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Registration number: 14228248

Tillett Property Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 12 July 2022 to 31 July 2023

 

Tillett Property Ltd

Directors' Report for the Period from 12 July 2022 to 31 July 2023

The directors present their report and the abridged financial statements for the period from 12 July 2022 to 31 July 2023.

Incorporation

The company was incorporated on 12 July 2022 and commenced trading on 17 October 2022

Directors of the company

The directors who held office during the period were as follows:

Mrs Grace Austwick (appointed 12 July 2022)

Miss Nancy Tillett (appointed 12 July 2022)

Mrs Melanie Tillett (appointed 12 July 2022)

The following director was appointed after the period end:

Mrs Jessica Tutill (appointed 1 December 2023)

Principal activity

The principal activity of the company is Letting and operations of own or leased real estate

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 11 April 2024 and signed on its behalf by:
 

.........................................
Mrs Jessica Tutill
Director

.........................................
Mrs Melanie Tillett
Director

 

Tillett Property Ltd

(Registration number: 14228248)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

Fixed assets

 

Tangible assets

5

259,117

Investments

6

5

 

259,122

Current assets

 

Cash at bank and in hand

 

30,096

Creditors: Amounts falling due within one year

(137,576)

Net current liabilities

 

(107,480)

Total assets less current liabilities

 

151,642

Creditors: Amounts falling due after more than one year

(149,567)

Net assets

 

2,075

Capital and reserves

 

Called up share capital

8

100

Retained earnings

1,975

Shareholders' funds

 

2,075

For the financial period ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 11 April 2024 and signed on its behalf by:
 

 

Tillett Property Ltd

(Registration number: 14228248)
Abridged Balance Sheet as at 31 July 2023

.........................................
Mrs Jessica Tutill
Director

.........................................
Mrs Melanie Tillett
Director

 

Tillett Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 4 Premier Business Units
Wilton Road
Grimsby
North East Lincolnshire
DN36 4AW
England

These financial statements were authorised for issue by the Board on 11 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

1% reducing balance

Plant and machinery

25% reducing balance

 

Tillett Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Tillett Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

Depreciation expense

5,466

Income from shares in group undertakings

(30,000)

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

246,583

18,000

264,583

At 31 July 2023

246,583

18,000

264,583

Depreciation

Charge for the period

-

5,466

5,466

At 31 July 2023

-

5,466

5,466

Carrying amount

At 31 July 2023

246,583

12,534

259,117

Included within the net book value of land and buildings above is £246,583 in respect of freehold land and buildings.
 

6

Investments

 

Tillett Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023

Total
£

Cost or valuation

Additions

5

Provision

Carrying amount

At 31 July 2023

5

2023
£

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

Subsidiary undertakings

G & N Country Leisure Limited

Unit 3 & 4 Premier Business Units, Wilton Road, Grimsby, DN36 4AN

England

Ordinary shares

100%

Subsidiary undertakings

G & N Country Leisure Limited

The principal activity of G & N Country Leisure Limited is Online sale of clothing. Its financial period end is 31 December.

7

Debtors

Debtors includes £Nil due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

Tillett Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 12 July 2022 to 31 July 2023

 

2023

 

No.

£

Ordinary shares of £1 each

100

100