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REGISTERED NUMBER: 12462006 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

True Blue Properties Limited

True Blue Properties Limited (Registered number: 12462006)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


True Blue Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N L Tzirki
S Tzirki





REGISTERED OFFICE: Leofric House
18B Binley Road
Coventry
West Midlands
CV3 1JN





REGISTERED NUMBER: 12462006 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

True Blue Properties Limited (Registered number: 12462006)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,478 3,005
Investments 5 2 -
Investment property 6 1,802,538 1,601,443
1,805,018 1,604,448

CURRENT ASSETS
Stocks - 141,015
Debtors 7 290,655 2,993
Cash at bank 63,589 16,473
354,244 160,481
CREDITORS
Amounts falling due within one year 8 2,090,108 1,763,149
NET CURRENT LIABILITIES (1,735,864 ) (1,602,668 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,154

1,780

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 69,054 1,680
SHAREHOLDERS' FUNDS 69,154 1,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

True Blue Properties Limited (Registered number: 12462006)

Balance Sheet - continued
31 March 2024


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 7 August 2024 and were signed on its behalf by:




N L Tzirki - Director



S Tzirki - Director


True Blue Properties Limited (Registered number: 12462006)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

True Blue Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Improvements to property - Straight line over 10 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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.

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 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.


True Blue Properties Limited (Registered number: 12462006)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 2,520 340 1,399 4,259
DEPRECIATION
At 1 April 2023 504 106 644 1,254
Charge for year 252 85 190 527
At 31 March 2024 756 191 834 1,781
NET BOOK VALUE
At 31 March 2024 1,764 149 565 2,478
At 31 March 2023 2,016 234 755 3,005

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 2
At 31 March 2024 2
NET BOOK VALUE
At 31 March 2024 2

True Blue Properties Limited (Registered number: 12462006)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,601,443
Additions 201,095
At 31 March 2024 1,802,538
NET BOOK VALUE
At 31 March 2024 1,802,538
At 31 March 2023 1,601,443

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed by group undertakings 270,168 -
Other debtors 11,432 -
Prepayments 9,055 2,993
290,655 2,993

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 181,500 -
Trade creditors 637 -
Taxation and social security 5,967 -
Other creditors 1,902,004 1,763,149
2,090,108 1,763,149

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 181,500 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
3,000 Ordinary A 0.01 30 30
3,000 Ordinary B 0.01 30 30
4,000 Ordinary C 0.01 40 40
100 100

True Blue Properties Limited (Registered number: 12462006)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
N L Tzirki and S Tzirki
Balance outstanding at start of year (1,760,355 ) (1,147,286 )
Amounts advanced 53,983 15,712
Amounts repaid (192,135 ) (628,781 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,898,507 ) (1,760,355 )

Interest has been charged on the above and has no set terms of repayment.

12. POST BALANCE SHEET EVENTS

During the year True Blue Properties Limited owned a 50% shareholding in Dias Capital Limited.

In the following financial year True Blue Properties Limited acquired the remaining 50% shareholding in Dias Capital Limited, meaning that they are now the sole shareholder and ultimate controlling party.