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REGISTERED NUMBER: 00791944 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

TANKERTON PROPERTIES LIMITED

TANKERTON PROPERTIES LIMITED (REGISTERED NUMBER: 00791944)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TANKERTON PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P G C Valente
P J F Valente





SECRETARY: P G C Valente





REGISTERED OFFICE: Charlton House
Dour Street
DOVER
Kent
CT16 1BL





REGISTERED NUMBER: 00791944 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

TANKERTON PROPERTIES LIMITED (REGISTERED NUMBER: 00791944)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,958,003 3,418,003

CURRENT ASSETS
Debtors 5 113,559 130,107
Cash at bank 986,618 581,003
1,100,177 711,110
CREDITORS
Amounts falling due within one year 6 131,502 140,174
NET CURRENT ASSETS 968,675 570,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,926,678

3,988,939

PROVISIONS FOR LIABILITIES 7 81,812 113,652
NET ASSETS 3,844,866 3,875,287

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 1,101,950 1,085,710
Retained earnings 2,742,816 2,789,477
SHAREHOLDERS' FUNDS 3,844,866 3,875,287

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.

TANKERTON PROPERTIES LIMITED (REGISTERED NUMBER: 00791944)

BALANCE SHEET - 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 23 September 2024 and were signed on its behalf by:





P J F Valente - Director


TANKERTON PROPERTIES LIMITED (REGISTERED NUMBER: 00791944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Tankerton 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income relating to the year, excluding value added tax.

Tangible fixed assets
The company's freehold properties are let and are therefore held for investment. Investment properties are included at fair value. Gains are recognised in the Fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold and is charged to the Fair value reserve.

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.

3. EMPLOYEES AND DIRECTORS

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

TANKERTON PROPERTIES LIMITED (REGISTERED NUMBER: 00791944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 January 2023 3,418,003
Disposals (460,000 )
At 31 December 2023 2,958,003
NET BOOK VALUE
At 31 December 2023 2,958,003
At 31 December 2022 3,418,003

Cost or valuation at 31 December 2023 is represented by:

Freehold
property
£   
Valuation in 2023 1,055,245
Cost 1,902,758
2,958,003

If freehold properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,902,758 2,362,758

The freehold properties were valued on an open market value basis at 31 December 2023 by the directors.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,166 23,209
Sundry debtors 78,169 76,383
Prepayments and accrued income 9,784 11,075
Sundry loan 1,440 19,440
113,559 130,107

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 37,229 23,730
Sundry creditors and accruals 23,945 26,538
Rent invoiced in advance 39,124 44,263
Directors' current accounts 31,204 45,643
131,502 140,174

TANKERTON PROPERTIES LIMITED (REGISTERED NUMBER: 00791944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 81,812 113,652

Deferred
tax
£   
Balance at 1 January 2023 113,652
Movement in year (31,840 )
Balance at 31 December 2023 81,812

The above provision is in respect of revaluations of investment properties.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

During the year the company received repayments of £18,000 (2022 - £24,000) from Quality Amusements Limited, a company of which P G C Valente and P J F Valente are directors, in respect of a loan made to that company. At the year end £1,440 (2022 - £19,440) was owing from Quality Amusements Limited, no interest has been charged on this loan.