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Registered number: 14504731
Terrence Ltd
Unaudited Financial Statements
For the Period 24 November 2022 to 30 November 2023
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14504731
30 November 2023
Notes £ £
CURRENT ASSETS
Stocks 4 956,954
Debtors 5 8,784
Cash at bank and in hand 348
966,086
Creditors: Amounts Falling Due Within One Year 6 (978,344 )
NET CURRENT ASSETS (LIABILITIES) (12,258 )
TOTAL ASSETS LESS CURRENT LIABILITIES (12,258 )
NET LIABILITIES (12,258 )
CAPITAL AND RESERVES
Called up share capital 8 1
Profit and Loss Account (12,259 )
SHAREHOLDERS' FUNDS (12,258)
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Oliver Robert Partington
Director
14 August 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Terrence Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14504731 . The registered office is Flat C, 12 Peckham Hill Street, London, SE15 6BN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Stocks
30 November 2023
£
Stock - Properties under development 956,954
5. Debtors
30 November 2023
£
Due within one year
Prepayments and accrued income 8,784
6. Creditors: Amounts Falling Due Within One Year
30 November 2023
£
Bank loans and overdrafts 626,976
Other creditors 155,000
Credit Cards 232
Accruals and deferred income 11,305
Director's loan account 144,387
Amounts owed to related parties 40,444
978,344
7. Secured Creditors
Of the creditors the following amounts are secured.
30 November 2023
£
Bank loans and overdrafts 626,976
Page 2
Page 3
8. Share Capital
30 November 2023
£
Allotted, Called up and fully paid 1
9. Related Party Transactions
Included in creditors due within one year is an amount of £144,387 that is owed to the director of the company. The amount is unsecured, interest-free and repayable on demand.
Included in creditor due within one year is an amount of £40,444 that is owed to the related party. The amount is unsecured, interest-free and repayable on demand.
10. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of the ownership of 100% of the issued share capital in the company.
Page 3