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REGISTERED NUMBER: 10786800 (England and Wales)














Thirteen Property Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024






Thirteen Property Ltd (Registered number: 10786800)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thirteen Property Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: I R Storey
Mrs T L Storey





SECRETARY:





REGISTERED OFFICE: 13 Grove Road South
Southsea
Hampshire
PO5 3QR





REGISTERED NUMBER: 10786800 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Thirteen Property Ltd (Registered number: 10786800)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 740,316 711,842

CURRENT ASSETS
Cash at bank 36,406 25,276

CREDITORS
Amounts falling due within one year 5 128,676 132,479
NET CURRENT LIABILITIES (92,270 ) (107,203 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

648,046

604,639

CREDITORS
Amounts falling due after more than one year 6 441,490 441,490
NET ASSETS 206,556 163,149

CAPITAL AND RESERVES
Called up share capital 26 26
Revaluation reserve 8 178,847 150,373
Retained earnings 27,683 12,750
206,556 163,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Thirteen Property Ltd (Registered number: 10786800)

Balance Sheet - continued
31 May 2024


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 8 August 2024 and were signed on its behalf by:





I R Storey - Director


Thirteen Property Ltd (Registered number: 10786800)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Thirteen Property 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.

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

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 NIL (2023 - NIL).

Thirteen Property Ltd (Registered number: 10786800)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 711,842
Revaluations 28,474
At 31 May 2024 740,316
NET BOOK VALUE
At 31 May 2024 740,316
At 31 May 2023 711,842

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2021 74,843
Valuation in 2022 63,631
Valuation in 2023 11,899
Valuation in 2024 28,474
Cost 561,469
740,316

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1
Taxation 3,503 3,120
Other creditors - 4,185
Directors' current accounts 125,173 125,173
128,676 132,479

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 441,490 441,490

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 441,490 441,490

Thirteen Property Ltd (Registered number: 10786800)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 441,490 441,490

The bank loans are secured by a fixed charge over the investment property.

8. RESERVES
Revaluation
reserve
£   
At 1 June 2023 150,373
Revaluation 28,474

At 31 May 2024 178,847