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REGISTERED NUMBER: 10753648 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2023

for

TOTNES PROPERTY 1 LTD

TOTNES PROPERTY 1 LTD (REGISTERED NUMBER: 10753648)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOTNES PROPERTY 1 LTD

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2023







Director: Mr T I Walker





Registered office: 1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ





Registered number: 10753648 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

TOTNES PROPERTY 1 LTD (REGISTERED NUMBER: 10753648)

Balance Sheet
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1

CURRENT ASSETS
Stocks - 161,546
Debtors 5 30 4,222
Cash at bank 785 12,246
815 178,014
CREDITORS
Amounts falling due within one year 6 129,423 129,515
NET CURRENT (LIABILITIES)/ASSETS (128,608 ) 48,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

(128,607

)

48,500

CREDITORS
Amounts falling due after more than one
year

7

415,445

422,445
NET LIABILITIES (544,052 ) (373,945 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (544,152 ) (374,045 )
SHAREHOLDERS' FUNDS (544,052 ) (373,945 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 March 2024 and were signed by:





Mr T I Walker - Director


TOTNES PROPERTY 1 LTD (REGISTERED NUMBER: 10753648)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Totnes Property 1 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - no depreciation charged in this period

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 October 2022
and 30 September 2023 1
NET BOOK VALUE
At 30 September 2023 1
At 30 September 2022 1

TOTNES PROPERTY 1 LTD (REGISTERED NUMBER: 10753648)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

The Company owns the Freehold for the Rainbow View Development. There is currently no valuation in the
accounts for this as the Company awaits a re-evaluation on the freehold.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other debtors 30 4,222

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 662 34
Other creditors 128,761 129,481
129,423 129,515

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Other creditors 415,445 422,445

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Ordinary 1 100 100