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REGISTERED NUMBER: 07238173 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Teague Estates Limited

Teague Estates Limited (Registered number: 07238173)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Teague Estates Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P A Teague
Mrs G Teague





REGISTERED OFFICE: 9 St George's Yard
Castle Street
Farnham
Surrey
GU9 7LW





REGISTERED NUMBER: 07238173 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Teague Estates Limited (Registered number: 07238173)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,400,000 1,760,000

CURRENT ASSETS
Cash at bank 9,221 36,442

CREDITORS
Amounts falling due within one year 5 283,537 377,085
NET CURRENT LIABILITIES (274,316 ) (340,643 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,125,684

1,419,357

PROVISIONS FOR LIABILITIES 126,231 164,336
NET ASSETS 999,453 1,255,021

CAPITAL AND RESERVES
Called up share capital 200 200
Other reserves 378,694 700,589
Retained earnings 620,559 554,232
SHAREHOLDERS' FUNDS 999,453 1,255,021

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

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

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by:





P A Teague - Director


Teague Estates Limited (Registered number: 07238173)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Teague Estates Limited 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 as modified by the revaluation of certain assets.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 1,760,000
Revaluations (360,000 )
At 30 June 2023 1,400,000
NET BOOK VALUE
At 30 June 2023 1,400,000
At 30 June 2022 1,760,000

The investment property was last valued by the directors on an open market basis at 30 June 2023.

Teague Estates Limited (Registered number: 07238173)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Taxation and social security 17,385 17,004
Other creditors 266,152 360,081
283,537 377,085

6. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £66,041 (2022 £66,041) to Oak Park Leisure Limited, a company in which a director holds a material interest.

At the balance sheet date the company owed an amount of £190,999 (2022 £289,263) to Paul's Plaice Limited, a company in which a director holds a material interest.