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REGISTERED NUMBER: 01848637 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Telford Investments Limited

Telford Investments Limited (Registered number: 01848637)






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


Telford Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr C W Evans
Miss M J Guy





SECRETARY: Mr C W Evans





REGISTERED OFFICE: International House
6 Market Street
Oakengates Telford
SHROPSHIRE TF2 6EF





REGISTERED NUMBER: 01848637 (England and Wales)





ACCOUNTANTS: Tranter Lowe (Oakengates) Limited
Chartered Accountants
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

Telford Investments Limited (Registered number: 01848637)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 3,000
Tangible assets 5 2,158,998 2,156,001
Fixed asset investments 6 1,635,324 1,635,324
Investment property 7 8,561,786 8,419,998
12,359,108 12,214,323

CURRENT ASSETS
Debtors 8 978,739 846,406
Investments 9 7,809,993 6,602,524
Cash at bank 640,282 725,724
9,429,014 8,174,654
CREDITORS
Amounts falling due within one year 10 530,681 414,488
NET CURRENT ASSETS 8,898,333 7,760,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,257,441

19,974,489

CREDITORS
Amounts falling due after more than one
year

11

(2,642,250

)

(2,970,397

)

PROVISIONS FOR LIABILITIES (962,686 ) (516,394 )
NET ASSETS 17,652,505 16,487,698

CAPITAL AND RESERVES
Called up share capital 13 100 100
Revaluation reserve 224,739 224,739
Retained earnings 17,427,666 16,262,859
SHAREHOLDERS' FUNDS 17,652,505 16,487,698

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.

Telford Investments Limited (Registered number: 01848637)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:





Mr C W Evans - Director


Telford Investments Limited (Registered number: 01848637)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Telford Investments Limited 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
Telford Investments Limited is a private company limited by shares incorporated in England. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the Company's operations and principal activities are given in the Directors' Report.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The company adopted FRS 102 in the current year and an explanation of how transition to FRS 102 has affected the reported financial position and performance is given in the notes to the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold property - 4% on cost
Security equipment - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 Statement of Income and Retained Earnings, 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.


Telford Investments Limited (Registered number: 01848637)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the charge in the accounts represents the amount paid to the pension company during the period.


Goodwill
Goodwill, relating to the acquisition of the motor fuel retail business in November 2002, was eliminated on its disposal on 26th November 2018.

Investments
Fixed asset investment properties and quoted investments are included in the financial statements at fair value with any revaluations going through the profit and loss account in accordance with Financial Reporting Standard 102.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. INTANGIBLE FIXED ASSETS
Domain Restrictive
names covenant Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 3,000 154,807 157,807
AMORTISATION
At 1 January 2023
and 31 December 2023 - 154,807 154,807
NET BOOK VALUE
At 31 December 2023 3,000 - 3,000
At 31 December 2022 3,000 - 3,000

Telford Investments Limited (Registered number: 01848637)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Long Fixtures
leasehold Security and
property equipment fittings
£    £    £   
COST OR VALUATION
At 1 January 2023 2,000,000 5,516 769,979
Additions - - -
Disposals - - -
At 31 December 2023 2,000,000 5,516 769,979
DEPRECIATION
At 1 January 2023 - 5,516 768,762
Charge for year - - 1,068
Eliminated on disposal - - -
At 31 December 2023 - 5,516 769,830
NET BOOK VALUE
At 31 December 2023 2,000,000 - 149
At 31 December 2022 2,000,000 - 1,217

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 213,713 4,883 2,994,091
Additions 65,124 2,229 67,353
Disposals (24,040 ) - (24,040 )
At 31 December 2023 254,797 7,112 3,037,404
DEPRECIATION
At 1 January 2023 59,076 4,736 838,090
Charge for year 56,968 310 58,346
Eliminated on disposal (18,030 ) - (18,030 )
At 31 December 2023 98,014 5,046 878,406
NET BOOK VALUE
At 31 December 2023 156,783 2,066 2,158,998
At 31 December 2022 154,637 147 2,156,001

Cost or valuation at 31 December 2023 is represented by:

Long Fixtures
leasehold Security and
property equipment fittings
£    £    £   
Valuation in 2020 732,309 - -
Cost 1,267,691 5,516 769,979
2,000,000 5,516 769,979

Telford Investments Limited (Registered number: 01848637)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2020 - - 732,309
Cost 254,797 7,112 2,305,095
254,797 7,112 3,037,404

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

31.12.23 31.12.22
£    £   
Cost 1,267,691 1,267,691
Aggregate depreciation 1,036,299 1,036,299

The leasehold property was valued on an open market value basis on 16 February 2024 by the directors of the Company .

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 1,635,324
NET BOOK VALUE
At 31 December 2023 1,635,324
At 31 December 2022 1,635,324

Cost or valuation at 31 December 2023 is represented by:

Shares in
group
undertakings
£   
Cost 1,635,324

Telford Investments Limited (Registered number: 01848637)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 8,419,998
Additions 141,788
At 31 December 2023 8,561,786
NET BOOK VALUE
At 31 December 2023 8,561,786
At 31 December 2022 8,419,998

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2003 406,034
Valuation in 2012 (196,072 )
Valuation in 2013 78,305
Valuation in 2016 172,573
Valuation in 2018 538,746
Valuation in 2020 446,036
Valuation in 2021 75,000
Valuation in 2022 1,391,378
Cost 5,649,786
8,561,786

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 3,134,160 3,134,160

The investment properties were valued on a fair value basis on 7 March 2024 by Me C W Evans, director of the Company. .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 54,928 21,946
Amounts owed by group undertakings 607,815 607,925
Amounts owed by associates 15,374 6,058
Other debtors 103,120 152,010
Directors' current accounts 175,002 34,736
Prepayments 22,500 23,731
978,739 846,406

Telford Investments Limited (Registered number: 01848637)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Listed investments 7,809,993 6,602,524

Current asset investments are traditionally valued on a fair value basis at the period end. At 6th January 2024 the valuation reported by the Company's stockbrokers was £7,809,993 and this is the basis of the valuation appearing in the financial statements.The value of these investments at their latest valuation, dated 31st March 2024, was £7,767,568.

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 267,500 200,000
Trade creditors 22,457 11,585
Tax 121,869 74,576
VAT 30,024 40,618
Other creditors 10,217 6,878
Accrued expenses 78,614 80,831
530,681 414,488

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 267,500 200,000
Bank loan 2 - 5 years 2,374,750 2,770,397
2,642,250 2,970,397

12. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 2,909,750 3,170,397

The lending facilities are secured by legal charges on the investment properties and investments, together with fixed and floating charges over the assets of the company and a personal guarantee provided by Mr C W Evans, director of the company.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

Telford Investments Limited (Registered number: 01848637)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr C W Evans
Balance outstanding at start of year (34,736 ) (73,106 )
Amounts advanced (140,829 ) (36,630 )
Amounts repaid 563 75,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (175,002 ) (34,736 )

15. RELATED PARTY DISCLOSURES

The company rented its motor fuel retail trading premises from the Telford Investments Limited Self Administered Pension Fund. Rent of £90,000 was paid during the period.