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REGISTERED NUMBER: NI675924 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2023 TO 30 NOVEMBER 2023

FOR

TOSA PROPERTIES LTD

TOSA PROPERTIES LTD (REGISTERED NUMBER: NI675924)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


TOSA PROPERTIES LTD

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 NOVEMBER 2023







DIRECTORS: Mr J Robinson
Mrs G Robinson





REGISTERED OFFICE: 114 High Street
Holywood
Co. Down
BT18 9HW





REGISTERED NUMBER: NI675924 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

TOSA PROPERTIES LTD (REGISTERED NUMBER: NI675924)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,704,883 3,682,952

CURRENT ASSETS
Debtors 5 30,665 20,017
Cash at bank 27,942 16,638
58,607 36,655
CREDITORS
Amounts falling due within one year 6 3,311,383 3,392,317
NET CURRENT LIABILITIES (3,252,776 ) (3,355,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

452,107

327,290

PROVISIONS FOR LIABILITIES 17,280 529
NET ASSETS 434,827 326,761

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 434,825 326,759
434,827 326,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 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.

TOSA PROPERTIES LTD (REGISTERED NUMBER: NI675924)

BALANCE SHEET - continued
30 NOVEMBER 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 18 August 2024 and were signed on its behalf by:





Mrs G Robinson - Director


TOSA PROPERTIES LTD (REGISTERED NUMBER: NI675924)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 NOVEMBER 2023


1. STATUTORY INFORMATION

TOSA Properties Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

The validity of this assumption depends on the continued support of the company's directors.

Based on the above, the directors believe it is appropriate to prepare accounts on the going concern basis.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

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 - not provided
Plant and machinery etc - 25% on reducing balance

TOSA PROPERTIES LTD (REGISTERED NUMBER: NI675924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

Taxation
Taxation for the period 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 4 ) .

TOSA PROPERTIES LTD (REGISTERED NUMBER: NI675924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
Investment machinery
property etc Totals
£    £    £   
COST
At 1 February 2023 3,635,765 50,387 3,686,152
Additions - 62,220 62,220
Disposals - (31,445 ) (31,445 )
At 30 November 2023 3,635,765 81,162 3,716,927
DEPRECIATION
At 1 February 2023 - 3,200 3,200
Charge for period - 13,853 13,853
Eliminated on disposal - (5,009 ) (5,009 )
At 30 November 2023 - 12,044 12,044
NET BOOK VALUE
At 30 November 2023 3,635,765 69,118 3,704,883
At 31 January 2023 3,635,765 47,187 3,682,952

Included in tangible fixed assets are the following assets held at valuation:


Investment
property
£
VALUATION
At 31 January 20213,635,765

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 31.1.23
£    £   
Trade debtors 14,645 2,591
Other debtors 16,020 17,426
30,665 20,017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 31.1.23
£    £   
Trade creditors 7,289 1,933
Taxation and social security 39,581 28,689
Other creditors 3,264,513 3,361,695
3,311,383 3,392,317