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REGISTERED NUMBER: 13086101 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

TROOPS PROPERTIES LTD

TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TROOPS PROPERTIES LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R L Andrews
S M Butcher





REGISTERED OFFICE: Bath House
6-8 Bath Street
Bristol
BS1 6HL





REGISTERED NUMBER: 13086101 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 299 449
Investments 5 1 1
Investment property 6 360,000 340,000
360,300 340,450

CURRENT ASSETS
Debtors 7 224,999 224,999
Cash at bank 5,457 2,050
230,456 227,049
CREDITORS
Amounts falling due within one year 8 (312,303 ) (285,922 )
NET CURRENT LIABILITIES (81,847 ) (58,873 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,453

281,577

CREDITORS
Amounts falling due after more than one
year

9

(260,079

)

(260,079

)

PROVISIONS FOR LIABILITIES (4,479 ) (5,223 )
NET ASSETS 13,895 16,275

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 93,000 78,000
Retained earnings (79,205 ) (61,825 )
SHAREHOLDERS' FUNDS 13,895 16,275

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Balance Sheet - continued
31 DECEMBER 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 4 August 2024 and were signed on its behalf by:




R L Andrews - Director



S M Butcher - Director


TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. COMPANY INFORMATION

Troops Properties Ltd 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.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.


Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 599
DEPRECIATION
At 1 January 2023 150
Charge for year 150
At 31 December 2023 300
NET BOOK VALUE
At 31 December 2023 299
At 31 December 2022 449

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 340,000
Revaluations 20,000
At 31 December 2023 360,000
NET BOOK VALUE
At 31 December 2023 360,000
At 31 December 2022 340,000

TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2021 is represented by:

£
Valuation in 2023 20,000
Valuation in 2021 104,000
Cost 236,000
360,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by joint ventures 224,999 224,999

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
CT61 liability 254 3,089
Other creditors 240,000 240,000
Directors' current accounts 27,719 21,373
Accruals and deferred income 44,330 21,460
312,303 285,922

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Loans include aggregate amounts of £260,079 which fall due after five years and which are payable otherwise than by instalments.

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 260,079 260,079

At the balance sheet date, fixed and floating charges were held by Synergy Capital Investments Limited and Foundation Home Loans Limited, over all undertakings and property of the company, including the residential property, being 1 Home Ground, Shirehampton, Bristol, BS11 0HN.

TROOPS PROPERTIES LTD (REGISTERED NUMBER: 13086101)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. RESERVES
Fair
value
reserve
£   
At 1 January 2023 78,000
Transfer of fair value 15,000

At 31 December 2023 93,000