REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Tepa Property Investment Ltd |
REGISTERED NUMBER: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
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 |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
Impairments | (4,290 | ) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
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 |
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: | £ | £ |
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. |