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REGISTERED NUMBER: 02559807 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Tud Developments Ltd

Tud Developments Ltd (Registered number: 02559807)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Tud Developments Ltd (Registered number: 02559807)

Balance Sheet
31 January 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 792 898
Investment property 5 430,000 308,395
430,792 309,293

Current assets
Debtors 6 2,344 3,385
Cash at bank and in hand 285,066 267,474
287,410 270,859
Creditors
Amounts falling due within one year 7 (31,390 ) (34,199 )
Net current assets 256,020 236,660
Total assets less current liabilities 686,812 545,953

Provisions for liabilities (29,316 ) (170 )
Net assets 657,496 545,783

Capital and reserves
Called up share capital 160,000 160,000
Fair value reserve 8 92,487 -
Retained earnings 405,009 385,783
657,496 545,783

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

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

Tud Developments Ltd (Registered number: 02559807)

Balance Sheet - continued
31 January 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 7 August 2024 and were signed on its behalf by:





Mr D Perkins - Director


Tud Developments Ltd (Registered number: 02559807)

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


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

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.

Tud Developments Ltd (Registered number: 02559807)

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


2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Tud Developments Ltd (Registered number: 02559807)

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


2. Accounting policies - continued
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 2 (2023 - 2 ) .

4. Tangible fixed assets
Fixtures Property
Plant and and fixtures &
machinery fittings fittings Totals
£ £ £ £
Cost
At 1 February 2023
and 31 January 2024 5,810 1,910 1,034 8,754
Depreciation
At 1 February 2023 5,641 1,630 585 7,856
Charge for year 42 42 22 106
At 31 January 2024 5,683 1,672 607 7,962
Net book value
At 31 January 2024 127 238 427 792
At 31 January 2023 169 280 449 898

5. Investment property
Total
£
Fair value
At 1 February 2023 308,395
Revaluations 121,605
At 31 January 2024 430,000
Net book value
At 31 January 2024 430,000
At 31 January 2023 308,395

Tud Developments Ltd (Registered number: 02559807)

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


5. Investment property - continued

The investment properties are held by the company for use in operating leases.

Fair value at 31 January 2024 is represented by:
£
Valuation in 2024 430,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£ £
Cost 308,395 -

The investment property was valued on an open market basis on 31 January 2024 by the directors .

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 2,344 3,385

7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors - 3,250
Amounts owed to group undertakings 5,826 5,826
Taxation and social security 4,548 3,119
Other creditors 21,016 22,004
31,390 34,199

8. Reserves
Fair value
reserve
£
Unrealised surplus 92,487

At 31 January 2024 92,487

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

Tud Developments Ltd (Registered number: 02559807)

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


9. Related party disclosures

TUD Developments Limited is a subsidiary of Rogers Farm Limited, a company under the control of the directors. At the year end TUD Developments Limited owed £5,825 to Rogers Farm Limited (2023: £5,825).

At the year end £9,946 (2023 £10,946) was owed to the directors.

10. Ultimate controlling party

The company is controlled jointly by D Perkins and Mrs J A Perkins.