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REGISTERED NUMBER: 06736893 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 October 2023

for


Tosca Properties Limited



Tosca Properties Limited (Registered number: 06736893)








Contents of the Financial Statements

for the Year Ended 31 October 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

3





Tosca Properties Limited



Company Information

for the Year Ended 31 October 2023









DIRECTOR:

N Ainscough







REGISTERED OFFICE:

Suite 1


19 Aviation Way


Southend Airport


Southend on Sea


Essex


SS2 6UN







REGISTERED NUMBER:

06736893 (England and Wales)







ACCOUNTANTS:

Anser Solutions!


Chartered Accountants


Suite 1


19 Aviation Way


Southend Airport


Southend on Sea


Essex


SS2 6UN



Tosca Properties Limited (Registered number: 06736893)



Balance Sheet

31 October 2023



31.10.23

31.10.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Investment property

4

710,000


710,000




CURRENT ASSETS

Cash at bank

34,657


22,391




CREDITORS

Amounts falling due within one year

5

229,121


228,286



NET CURRENT LIABILITIES

(194,464

)

(205,895

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

515,536


504,105




PROVISIONS FOR LIABILITIES

56,058


56,058



NET ASSETS

459,478


448,047




CAPITAL AND RESERVES

Called up share capital

100


100



Non distributable reserve

6

337,236


337,236



Retained earnings

6

122,142


110,711



SHAREHOLDERS' FUNDS

459,478


448,047




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.


The financial statements were approved by the director and authorised for issue on 10 April 2024 and were signed by:






N Ainscough - Director




Tosca Properties Limited (Registered number: 06736893)



Notes to the Financial Statements

for the Year Ended 31 October 2023


1.

STATUTORY INFORMATION



Tosca Properties 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 property is initially recognised at cost. The cost of a purchased investment property comprises it's purchase price and any directly attributable expenditure. Subsequently, investment property whose value can be measured without undue cost or effort is measured at fair value at each reporting date with changes in fair value being recognised in the income statement.



Deferred tax is provided on these fair value changes at the rate expected to apply when the property is sold.



Fair value is determined by the directors based on their knowledge of the properties, taking into account location, condition and prevailing market values at the reporting date.



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 1 (2022 - 1 ) .



Tosca Properties Limited (Registered number: 06736893)



Notes to the Financial Statements - continued

for the Year Ended 31 October 2023


4.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 November 2022


and 31 October 2023

710,000




NET BOOK VALUE


At 31 October 2023

710,000




At 31 October 2022

710,000





Fair value at 31 October 2023 is represented by:

£   



Valuation in 2009

26,725




Valuation in 2010

(5,000

)



Valuation in 2013

51,864




Valuation in 2014

29,704




Valuation in 2015

35,000




Valuation in 2017

75,000




Valuation in 2018

60,000




Valuation in 2021

120,000




Cost

316,707



710,000




5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.10.23


31.10.22

£   

£   



Taxation and social security

2,681


2,366




Other creditors

226,440


225,920



229,121


228,286




6.

RESERVES


Non



Retained


distributable



earnings


reserve


Totals

£   

£   

£   




At 1 November 2022

110,711


337,236


447,947




Profit for the year

11,431


11,431




At 31 October 2023

122,142


337,236


459,378