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COMPANY REGISTRATION NUMBER: 10552724
Tallview Properties Limited
Filleted Unaudited Financial Statements
30 September 2023
Tallview Properties Limited
Financial Statements
Year ended 30 September 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Tallview Properties Limited
Officers and Professional Advisers
Director
S B Spitz
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Tallview Properties Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Tallview Properties Limited
Year ended 30 September 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 September 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Tallview Properties Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
5,416,868
4,948,775
Current assets
Debtors
5
123,014
99,844
Cash at bank and in hand
2,751
22,615
---------
---------
125,765
122,459
Creditors: amounts falling due within one year
6
1,559
1,549
---------
---------
Net current assets
124,206
120,910
------------
------------
Total assets less current liabilities
5,541,074
5,069,685
Creditors: amounts falling due after more than one year
7
2,750,288
2,750,288
Provisions
8
165,216
75,916
------------
------------
Net assets
2,625,570
2,243,481
------------
------------
Capital and reserves
Called up share capital
3
3
Other reserves
2,754,038
2,284,035
Profit and loss account
( 128,471)
( 40,557)
------------
------------
Shareholders funds
2,625,570
2,243,481
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tallview Properties Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 23 August 2024 , and are signed on behalf of the board by:
S B Spitz
Director
Company registration number: 10552724
Tallview Properties Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts.
Tangible assets
Tangible 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
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:
Fixtures and fittings
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Investment property
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 October 2022
4,943,877
68,105
5,011,982
Fair value adjustments
470,000
470,000
------------
--------
------------
At 30 September 2023
5,413,877
68,105
5,481,982
------------
--------
------------
Depreciation
At 1 October 2022
63,207
63,207
Charge for the year
1,907
1,907
------------
--------
------------
At 30 September 2023
65,114
65,114
------------
--------
------------
Carrying amount
At 30 September 2023
5,413,877
2,991
5,416,868
------------
--------
------------
At 30 September 2022
4,943,877
4,898
4,948,775
------------
--------
------------
5. Debtors
2023
2022
£
£
Other debtors
123,014
99,844
---------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,559
1,549
-------
-------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
2,750,288
2,750,288
------------
------------
The company has provided security by way of mortgage deeds over all the properties owned in favour of OneSavings Bank plc and Paragon Bank plc.
8. Provisions
Deferred tax
£
At 1 October 2022
75,916
Additions
89,300
---------
At 30 September 2023
165,216
---------