REGISTERED NUMBER: |
TANIAS PROPERTIES LIMITED |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
REGISTERED NUMBER: |
TANIAS PROPERTIES LIMITED |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
TANIAS PROPERTIES LIMITED (REGISTERED NUMBER: 02233647) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Balance Sheet | 3 | to | 4 |
Notes to the Financial Statements | 5 | to | 8 |
TANIAS PROPERTIES LIMITED |
Company Information |
for the year ended 31 March 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
CUBO Birmingham |
3rd Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
Bankers: |
P O Box 9 |
Dudley |
West Midlands |
DY1 1PP |
Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Tanias Properties Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tanias Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Tanias Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tanias Properties Limited and state those matters that we have agreed to state to the Board of Directors of Tanias Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tanias Properties Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Tanias Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Tanias Properties Limited. You consider that Tanias Properties Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Tanias Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
CUBO Birmingham |
3rd Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
TANIAS PROPERTIES LIMITED (REGISTERED NUMBER: 02233647) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 9 |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Share premium |
Revaluation reserve |
Retained earnings |
Shareholders' funds |
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. |
TANIAS PROPERTIES LIMITED (REGISTERED NUMBER: 02233647) |
Balance Sheet - continued |
31 March 2024 |
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 |
TANIAS PROPERTIES LIMITED (REGISTERED NUMBER: 02233647) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | Statutory information |
Tanias Properties Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Tangible fixed assets are initially recognised at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Motor Vehicles - 25% reducing balance basis |
Computer Equipment - 15% reducing balance basis |
Investment property |
Investment properties are included at market value. All gains and losses arising on revaluation are taken directly to the profit and loss account for the year. |
No depreciation or amortisation is provided in respect of freehold investment properties. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
TANIAS PROPERTIES LIMITED (REGISTERED NUMBER: 02233647) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | Accounting policies - continued |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Freehold |
investment | Computer |
property | equipment | Totals |
£ | £ | £ |
Cost or valuation |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Revaluations | ( |
) | ( |
) |
At 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
The company`s freehold investment properties are held for their investment potential, with rental income being negotiated at arm`s length. They are therefore treated as investment properties and are not subject to annual depreciation. |
Cost or valuation at 31 March 2024 is represented by: |
Freehold |
investment | Computer |
property | equipment | Totals |
£ | £ | £ |
Cost | 460,000 | 11,996 | 471,996 |
5. | Fixed asset investments |
The company`s investments at the Statement of Financial Position date in the share capital of companies include the following: |
Tania`s Properties (Solihull) Limited |
Registered office: 69 Links Drive, Solihull, West Midlands, B91 2DJ |
100% Ordinary shares |
100% Preference shares |
TANIAS PROPERTIES LIMITED (REGISTERED NUMBER: 02233647) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
6. | Stocks |
2024 | 2023 |
£ | £ |
Stocks |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Corporation tax repayable |
VAT |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Corporation tax |
Other creditors |
Directors' loan accounts | 213,361 | 195,154 |
Accruals and deferred income |
9. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans over 5 yr by |
instalments |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans over 5 yr by |
instalments | - | 23,347 |
- | 23,347 |
10. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
TANIAS PROPERTIES LIMITED (REGISTERED NUMBER: 02233647) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 498 | 498 |