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REGISTERED NUMBER: 13352860 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Tepa Property Investment Ltd

Tepa Property Investment Ltd (Registered number: 13352860)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


Tepa Property Investment Ltd (Registered number: 13352860)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 610,000 519,417

CURRENT ASSETS
Debtors 5 29,418 1,500
Cash at bank 6,038 14,295
35,456 15,795
CREDITORS
Amounts falling due within one year 6 318,410 257,913
NET CURRENT LIABILITIES (282,954 ) (242,118 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,046

277,299

CREDITORS
Amounts falling due after more than
one year

7

353,175

309,825
NET LIABILITIES (26,129 ) (32,526 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (26,229 ) (32,626 )
SHAREHOLDERS' FUNDS (26,129 ) (32,526 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Tepa Property Investment Ltd (Registered number: 13352860)

Statement of Financial Position - continued
31 December 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 Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Mr Teunis Pasterkamp - Director


Tepa Property Investment Ltd (Registered number: 13352860)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Tepa Property Investment Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13352860

Registered office: 01 Meadlake Place
Thorpe Lea Road
Egham
Surrey
TW20 8HE

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 represents the fair value of rent received or receivable from the investment properties, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.


Tepa Property Investment Ltd (Registered number: 13352860)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The company has net liabilities of £26,129. The accounts have been prepared on going concern basis as the directors have confirmed that they will continue to provide financial support to the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2023 519,417
Additions 94,873
Impairments (4,290 )
At 31 December 2023 610,000
NET BOOK VALUE
At 31 December 2023 610,000
At 31 December 2022 519,417

Investment property situated at Flat 7, 3-15 Northumberland Avenue Blackpool, FY2 9SB and 10 Townsend Street Birkenhead Merseyside CH41 7BL is under a charge from Castle Trust Capital PLC. The charge was created on 7th April 2022.

Investment property situated at 98 King Street, New Brighton, CH44 8AN is under a charge from Castle Trust Capital PLC. The charge was created on 8th April 2022.

Tepa Property Investment Ltd (Registered number: 13352860)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY - continued

Cost or valuation at 31 December 2023 is represented by:
£   
Valuation in 2023 (4,290 )
Cost 614,290
610,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 29,418 1,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 318,410 257,913

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 309,825 309,825
Other creditors 43,350 -
353,175 309,825

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 309,825 309,825

Tepa Property Investment Ltd (Registered number: 13352860)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 309,825 309,825

The loan amounting to £122,400 is secured by the way of charge on the property situated at Flat 7, 3-15 Northumberland Avenue, Blackpool, FY2 9SB and 10 Townsend Street, Birkenhead Merseyside, CH41 7BL (disclosed as investment property). The charge was created in the name of Castle Trust Capital PLC on 7th April 2022.

The loan amounting to £187,425 is secured by the way of charge on the property situated at 98 King Street, New Brighton, CH44 8AN (disclosed as investment property). The charge was created in the name of on Castle Trust Capital PLC on 8th April 2022.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

The company owes £296,337 (2022: £245,943) to its director, Mr Teunis Pasterkamp who is also a 50% shareholder of the company as at accounting year end date.

The company owes £470 (2022: £470) to its director, Mrs Elisabeth Geertje Oost who is also a 50% shareholder of the company as at accounting year end date.

The company was owed £1,500 (2022: £1,500) as at accounting year end date from Tepa Group Holding Ltd, a company registered in United Kingdom (Company registered number: 13591316). Mr Teunis Pasterkamp and Mrs Elisabeth Geertje Oost are also directors and shareholders holding 50% each in this company.

The company was owed £27,375 as at accounting year end date from Heel Real Estate Ltd, a company registered in United Kingdom (Company registered number: 15015715). Mr Teunis Pasterkamp is also a director of this company.