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REGISTERED NUMBER: 13454165 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Terraspan Properties Ltd

Terraspan Properties Ltd (Registered number: 13454165)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Terraspan Properties Ltd (Registered number: 13454165)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 14,641 81,198

CURRENT ASSETS
Debtors 5 58,085 116,647
Cash at bank 851 21,562
58,936 138,209
CREDITORS
Amounts falling due within one year 6 394,004 410,333
NET CURRENT LIABILITIES (335,068 ) (272,124 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(320,427

)

(190,926

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (320,527 ) (191,026 )
SHAREHOLDERS' FUNDS (320,427 ) (190,926 )

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.

Terraspan Properties Ltd (Registered number: 13454165)

Statement of Financial Position - continued
30 June 2023


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 12 March 2024 and were signed on its behalf by:





Mr Jelle Smeulders - Director


Terraspan Properties Ltd (Registered number: 13454165)

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

1. STATUTORY INFORMATION

Terraspan Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13454165

Registered office: 01 Meadlake Place
Thorpe Lea Road
Egham
Surrey
TW20 8HE

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 represents the fair value of rent received or receivable from the leasehold properties, 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.
Short leasehold - straight line over 3 years
Fixtures and fittings - 33% on cost

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 statement of financial position date.


Terraspan Properties Ltd (Registered number: 13454165)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The company has net liabilities of £320,427. The accounts have been prepared on going concern basis as the directors have confirmed that they will continue to provide financial support to the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 July 2022 75,318 46,472 121,790
Disposals (20,497 ) (57,383 ) (77,880 )
Reclassification/transfer (30,019 ) 30,019 -
At 30 June 2023 24,802 19,108 43,910
DEPRECIATION
At 1 July 2022 25,103 15,489 40,592
Charge for year 8,266 6,369 14,635
Eliminated on disposal (6,832 ) (19,126 ) (25,958 )
Reclassification/transfer (10,005 ) 10,005 -
At 30 June 2023 16,532 12,737 29,269
NET BOOK VALUE
At 30 June 2023 8,270 6,371 14,641
At 30 June 2022 50,215 30,983 81,198

Terraspan Properties Ltd (Registered number: 13454165)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 58,085 116,647

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 394,004 410,333

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

The company owes £368,143 to its director, Mr Danny Paul Molenaar who is also a 50% shareholder of the company as at accounting year end date.

The company owes £25,686 to its director, Mr Jelle Smeulders who is also a 50% shareholder of the company as at accounting year end date.