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REGISTERED NUMBER: 07969610 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

T FIVE PROPERTIES LIMITED

T FIVE PROPERTIES LIMITED (REGISTERED NUMBER: 07969610)

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


T FIVE PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: R F Turner
J E Turner





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ





REGISTERED NUMBER: 07969610 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

T FIVE PROPERTIES LIMITED (REGISTERED NUMBER: 07969610)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 36 171
Investment property 5 2,210,000 1,820,000
2,210,036 1,820,171

CURRENT ASSETS
Debtors 6 935 2,140
Cash at bank 68,124 65,683
69,059 67,823
CREDITORS
Amounts falling due within one year 7 (2,605 ) (3,712 )
NET CURRENT ASSETS 66,454 64,111
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,276,490

1,884,282

CREDITORS
Amounts falling due after more than one
year

8

(1,588,115

)

(1,587,866

)

PROVISIONS FOR LIABILITIES 9 (151,704 ) (48,990 )
NET ASSETS 536,671 247,426

CAPITAL AND RESERVES
Called up share capital 23 23
Retained earnings 536,648 247,403
SHAREHOLDERS' FUNDS 536,671 247,426

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.

T FIVE PROPERTIES LIMITED (REGISTERED NUMBER: 07969610)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





R F Turner - Director


T FIVE PROPERTIES LIMITED (REGISTERED NUMBER: 07969610)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

T Five Properties Limited is a private company, limited by shares and registered in England and Wales. The company's registered office address is Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ and its registered number is 07969610.

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.

The presentational currency of the financial statements is Sterling (£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable and recognises the sale of properties upon completion and rental income when it falls due.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Computer Equipment-33% straight line


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment property
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at
transaction price, unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


T FIVE PROPERTIES LIMITED (REGISTERED NUMBER: 07969610)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 3,448
DEPRECIATION
At 1 April 2023 3,277
Charge for year 135
At 31 March 2024 3,412
NET BOOK VALUE
At 31 March 2024 36
At 31 March 2023 171

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,820,000
Revaluations 390,000
At 31 March 2024 2,210,000
NET BOOK VALUE
At 31 March 2024 2,210,000
At 31 March 2023 1,820,000

T FIVE PROPERTIES LIMITED (REGISTERED NUMBER: 07969610)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. INVESTMENT PROPERTY - continued

In respect of investment properties stated at valuation, the comparable historical cost is £1,599.346.

The Directors consider the valuation of £2,210,000 to be an accurate reflection of fair value as at 31 March 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 935 2,140

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 172
Taxation and social security 205 205
Other creditors 2,400 3,335
2,605 3,712

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,588,115 1,587,866

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 151,704 48,990

Deferred
tax
£   
Balance at 1 April 2023 48,990
Charge to Profit and Loss Account during year 102,714
Balance at 31 March 2024 151,704