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REGISTERED NUMBER: 03874677 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

TRUSTEE PROPERTIES LTD

TRUSTEE PROPERTIES LTD (REGISTERED NUMBER: 03874677)






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


TRUSTEE PROPERTIES LTD

COMPANY INFORMATION
for the Year Ended 30 NOVEMBER 2023







DIRECTOR: G Bolton





REGISTERED OFFICE: 291 Railway Arches
Cambridge Heath Road
London
E2 9HA





REGISTERED NUMBER: 03874677 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

TRUSTEE PROPERTIES LTD (REGISTERED NUMBER: 03874677)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,016 26,085
Investment property 5 3,575,706 3,511,706
3,597,722 3,537,791

CURRENT ASSETS
Debtors 6 675,000 676,233
Cash at bank 23,918 21,063
698,918 697,296
CREDITORS
Amounts falling due within one year 7 2,772,180 2,867,436
NET CURRENT LIABILITIES (2,073,262 ) (2,170,140 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,524,460

1,367,651

CREDITORS
Amounts falling due after more than one
year

8

(500,543

)

(526,394

)

PROVISIONS FOR LIABILITIES (541,500 ) (541,500 )
NET ASSETS 482,417 299,757

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 482,415 299,755
SHAREHOLDERS' FUNDS 482,417 299,757

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 director acknowledges his 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.

TRUSTEE PROPERTIES LTD (REGISTERED NUMBER: 03874677)

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 by the director and authorised for issue on 29 August 2024 and were signed by:





G Bolton - Director


TRUSTEE PROPERTIES LTD (REGISTERED NUMBER: 03874677)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Trustee Properties Ltd 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
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

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.

TRUSTEE PROPERTIES LTD (REGISTERED NUMBER: 03874677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 13,877 19,465 27,061 60,403
DEPRECIATION
At 1 December 2022 - 8,516 25,802 34,318
Charge for year - 3,650 419 4,069
At 30 November 2023 - 12,166 26,221 38,387
NET BOOK VALUE
At 30 November 2023 13,877 7,299 840 22,016
At 30 November 2022 13,877 10,949 1,259 26,085

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 3,511,706
Additions 64,000
At 30 November 2023 3,575,706
NET BOOK VALUE
At 30 November 2023 3,575,706
At 30 November 2022 3,511,706

TRUSTEE PROPERTIES LTD (REGISTERED NUMBER: 03874677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2010 747,989
Valuation in 2011 60,000
Valuation in 2012 450,000
Valuation in 2016 692,011
Valuation in 2018 82,950
Valuation in 2019 231,098
Valuation in 2020 585,952
Valuation in 2021 614,793
Valuation in 2022 46,913
Valuation in 2023 64,000
3,575,706

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 675,000 675,000
Other debtors - 1,233
675,000 676,233

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,700 29,700
Amounts owed to group undertakings 1,430,000 1,510,000
Taxation and social security 7,896 1
Other creditors 1,304,584 1,327,735
2,772,180 2,867,436

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 500,543 526,394

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the year ending 30th November 2022, there was a directors loan account balance of £1,307,397 (2021: £1,292,557) owed to Mr J Bolton. No interest was charged in respect of this loan and all transactions took place at an arms length basis.

TRUSTEE PROPERTIES LTD (REGISTERED NUMBER: 03874677)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 NOVEMBER 2023

10. RELATED PARTY DISCLOSURES

Intercompany loans were made in the year ending 30 November 2023 to and from the company from Look Sharp Properties Limited, Bolton Property Group Limited, Bolton Partnership and Phoenix Properties.

The Board Resolutions granted the loans on the following terms;
2.5% interest, floating £500,000 loan facility available to be drawn down at any time in any amounts over a period of ten years, repayment in full on tenth year.
All interest is to be charged annually in arrears and added to the capital balance. Final repayment at the end of term of capital balance and all accrued interest.

As at the year end 30 November 2023, the company had a balance of £1,510,000 owed to Look Sharp Properties Limited and Bolton Property Group Limited. At the same time the company was owed £40,000 from Phoenix Properties and £675,000 from Bolton Partnership.

11. ULTIMATE CONTROLLING PARTY

The controlling party is J P Bolton.