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REGISTERED NUMBER: 10921191 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

TYMARIC PROPERTIES LTD

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TYMARIC PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J Elliott
G P Elliott





REGISTERED OFFICE: Tyburn House
Ely Grange Estate
Frant
TN3 9DZ





REGISTERED NUMBER: 10921191 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 417 118
Investments 5 100,050 100,050
Investment property 6 1,650,000 1,650,000
1,750,467 1,750,168

CURRENT ASSETS
Stocks 693,914 661,668
Debtors 7 3,419,020 3,274,815
Cash at bank and in hand 4,994 8,728
4,117,928 3,945,211
CREDITORS
Amounts falling due within one year 8 49,397 76,583
NET CURRENT ASSETS 4,068,531 3,868,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,818,998

5,618,796

CREDITORS
Amounts falling due after more than one
year

9

(4,666,116

)

(4,481,702

)

PROVISIONS FOR LIABILITIES (96,508 ) (96,508 )
NET ASSETS 1,056,374 1,040,586

CAPITAL AND RESERVES
Called up share capital 10 60 60
Revaluation reserve 11 289,522 289,522
Retained earnings 11 766,792 751,004
SHAREHOLDERS' FUNDS 1,056,374 1,040,586

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

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

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

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 and authorised for issue by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





J Elliott - Director


TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Tymaric Properties Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 10921191 and registered office address is at Tyburn House, Ely Grange Estate, Frant, United Kingdom, TN3 9DZ.

Principal activity

The principal activity of the company in the year under review was that of development of commercial building projects.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the sale of properties and profit share from company investments is recognised on completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33.3% on 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Going concern
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and the ongoing support of the directors, to whom the creditor due in more than one year is owed.

Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements and thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Rental income
Rental income is recognised on a straight line basis within other income in accordance with the terms of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 December 2022 1,756
Additions 441
At 30 November 2023 2,197
DEPRECIATION
At 1 December 2022 1,638
Charge for year 142
At 30 November 2023 1,780
NET BOOK VALUE
At 30 November 2023 417
At 30 November 2022 118

5. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 December 2022
and 30 November 2023 100,050
NET BOOK VALUE
At 30 November 2023 100,050
At 30 November 2022 100,050

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint ventures

Marda Developments Ltd
Registered office: Birch Corner, Fern Road, Storrington, West Sussex, England, RH20 4LW
Nature of business: Buying and selling of own real estate
%
Class of shares: holding
Ordinary 50.00

Lamberts Park (Management) Ltd
Registered office: Tyburn House, Ely Grange Estate, Frant, Tunbridge Wells, Kent, TN3 9DZ
Nature of business: Buying, selling and management of real estate
%
Class of shares: holding
Ordinary 50.00

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,650,000
NET BOOK VALUE
At 30 November 2023 1,650,000
At 30 November 2022 1,650,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2020 386,030
Cost 1,263,970
1,650,000

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 2,387 -
Other debtors 2,402,186 150,780
Tax 1,609 -
VAT 8,326 7,227
Prepayments and accrued income 495 495
2,415,003 158,502

Amounts falling due after more than one year:
Other debtors 843,354 2,962,526
Prepayments and accrued income 160,663 153,787
1,004,017 3,116,313

Aggregate amounts 3,419,020 3,274,815

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


7. DEBTORS - continued

Other debtors less than one year

As at the balance sheet date, there was a loan owing to the company included within other debtors of £Nil (2022: £150,000). Interest is charged on the loan at 0.89% per month.

As at the balance sheet date, there was a loan owing to the company included within other debtors of £749,425 (2022: £447,200). Interest is charged on the loan at 5% - 8.9% per annum.

As at the balance sheet date, there was a loan owing to the company included within other debtors of £1,045,000 (2022: £625,000). Interest is charged on the loan at 8% - 9.75% per annum.

As at the balance sheet date, there was a loan owing to the company included within other debtors of £198,131 (2022: £408,504). Interest is charged on the loan at 7.9% - 8.9% per annum.

As at the balance sheet date, there was a loan owing to the company included within other debtors of £473,757 (2022: £890,038). Interest is charged on the loan at 7.9% - 8.9% per annum. A provision of £65,000 has been provided against the balance above in the year (2022: £Nil).

Other debtors greater than one year

As at the balance sheet date, there was a loan owing to the company included within other debtors of £806,354 (2022: £588,884). Interest is charged on the loan at 6% - 7.25% per annum.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 27,086 15,580
Corporation tax - 38,503
Other creditors 8,310 8,500
Accruals and deferred income 14,001 14,000
49,397 76,583

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Directors' loan accounts 4,666,116 4,481,702

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number Class Nominal 2023 2022
Value £ £
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
10 Ordinary E £1 10 10
10 Ordinary F £1 10 10

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 December 2022 751,004 289,522 1,040,526
Profit for the year 15,788 15,788
At 30 November 2023 766,792 289,522 1,056,314

TYMARIC PROPERTIES LTD (REGISTERED NUMBER: 10921191)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


12. RELATED PARTY DISCLOSURES

As at the balance sheet date, there was an amount owed to the company directors included within creditors due after one year of £4,666,116 (2022: £4,481,702). The amount is interest free and has no repayment terms attached.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director John Elliott, by virtue of his majority shareholding of voting shares.