2023-03-012024-02-292024-02-29false05318942Theori Property Management Limited2024-08-29iso4217:GBPxbrli:pure053189422023-03-01053189422024-02-29053189422023-03-012024-02-29053189422022-03-01053189422023-02-28053189422022-03-012023-02-2805318942bus:SmallEntities2023-03-012024-02-2905318942bus:AuditExempt-NoAccountantsReport2023-03-012024-02-2905318942bus:FullAccounts2023-03-012024-02-2905318942bus:PrivateLimitedCompanyLtd2023-03-012024-02-2905318942core:WithinOneYear2024-02-2905318942core:AfterOneYear2024-02-2905318942core:WithinOneYear2023-02-2805318942core:AfterOneYear2023-02-2805318942core:ShareCapital2024-02-2905318942core:SharePremium2024-02-2905318942core:RevaluationReserve2024-02-2905318942core:OtherReservesSubtotal2024-02-2905318942core:RetainedEarningsAccumulatedLosses2024-02-2905318942core:ShareCapital2023-02-2805318942core:SharePremium2023-02-2805318942core:RevaluationReserve2023-02-2805318942core:OtherReservesSubtotal2023-02-2805318942core:RetainedEarningsAccumulatedLosses2023-02-2805318942core:LandBuildings2024-02-2905318942core:PlantMachinery2024-02-2905318942core:Vehicles2024-02-2905318942core:FurnitureFittings2024-02-2905318942core:OfficeEquipment2024-02-2905318942core:NetGoodwill2024-02-2905318942core:IntangibleAssetsOtherThanGoodwill2024-02-2905318942core:ListedExchangeTraded2024-02-2905318942core:UnlistedNon-exchangeTraded2024-02-2905318942core:LandBuildings2023-02-2805318942core:PlantMachinery2023-02-2805318942core:Vehicles2023-02-2805318942core:FurnitureFittings2023-02-2805318942core:OfficeEquipment2023-02-2805318942core:NetGoodwill2023-02-2805318942core:IntangibleAssetsOtherThanGoodwill2023-02-2805318942core:ListedExchangeTraded2023-02-2805318942core:UnlistedNon-exchangeTraded2023-02-2805318942core:LandBuildings2023-03-012024-02-2905318942core:PlantMachinery2023-03-012024-02-2905318942core:Vehicles2023-03-012024-02-2905318942core:FurnitureFittings2023-03-012024-02-2905318942core:OfficeEquipment2023-03-012024-02-2905318942core:NetGoodwill2023-03-012024-02-2905318942core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2905318942core:ListedExchangeTraded2023-03-012024-02-2905318942core:UnlistedNon-exchangeTraded2023-03-012024-02-2905318942core:MoreThanFiveYears2023-03-012024-02-2905318942core:Non-currentFinancialInstruments2024-02-2905318942core:Non-currentFinancialInstruments2023-02-2805318942dpl:CostSales2023-03-012024-02-2905318942dpl:DistributionCosts2023-03-012024-02-2905318942core:LandBuildings2023-03-012024-02-2905318942core:PlantMachinery2023-03-012024-02-2905318942core:Vehicles2023-03-012024-02-2905318942core:FurnitureFittings2023-03-012024-02-2905318942core:OfficeEquipment2023-03-012024-02-2905318942dpl:AdministrativeExpenses2023-03-012024-02-2905318942core:NetGoodwill2023-03-012024-02-2905318942core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2905318942dpl:GroupUndertakings2023-03-012024-02-2905318942dpl:ParticipatingInterests2023-03-012024-02-2905318942dpl:GroupUndertakingscore:ListedExchangeTraded2023-03-012024-02-2905318942core:ListedExchangeTraded2023-03-012024-02-2905318942dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-03-012024-02-2905318942core:UnlistedNon-exchangeTraded2023-03-012024-02-2905318942dpl:CostSales2022-03-012023-02-2805318942dpl:DistributionCosts2022-03-012023-02-2805318942core:LandBuildings2022-03-012023-02-2805318942core:PlantMachinery2022-03-012023-02-2805318942core:Vehicles2022-03-012023-02-2805318942core:FurnitureFittings2022-03-012023-02-2805318942core:OfficeEquipment2022-03-012023-02-2805318942dpl:AdministrativeExpenses2022-03-012023-02-2805318942core:NetGoodwill2022-03-012023-02-2805318942core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-2805318942dpl:GroupUndertakings2022-03-012023-02-2805318942dpl:ParticipatingInterests2022-03-012023-02-2805318942dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-2805318942core:ListedExchangeTraded2022-03-012023-02-2805318942dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-2805318942core:UnlistedNon-exchangeTraded2022-03-012023-02-2805318942core:NetGoodwill2024-02-2905318942core:IntangibleAssetsOtherThanGoodwill2024-02-2905318942core:LandBuildings2024-02-2905318942core:PlantMachinery2024-02-2905318942core:Vehicles2024-02-2905318942core:FurnitureFittings2024-02-2905318942core:OfficeEquipment2024-02-2905318942core:AfterOneYear2024-02-2905318942core:WithinOneYear2024-02-2905318942core:ListedExchangeTraded2024-02-2905318942core:UnlistedNon-exchangeTraded2024-02-2905318942core:ShareCapital2024-02-2905318942core:SharePremium2024-02-2905318942core:RevaluationReserve2024-02-2905318942core:OtherReservesSubtotal2024-02-2905318942core:RetainedEarningsAccumulatedLosses2024-02-2905318942core:NetGoodwill2023-02-2805318942core:IntangibleAssetsOtherThanGoodwill2023-02-2805318942core:LandBuildings2023-02-2805318942core:PlantMachinery2023-02-2805318942core:Vehicles2023-02-2805318942core:FurnitureFittings2023-02-2805318942core:OfficeEquipment2023-02-2805318942core:AfterOneYear2023-02-2805318942core:WithinOneYear2023-02-2805318942core:ListedExch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Theori Property Management Limited

Registered Number
05318942
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

Theori Property Management Limited
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Mandeep Singh Binning
Andrea Demetri
Kyriakoulla Theori
Theoris Theori

Company Secretary

THEORI, Kyriakoulla

Registered Address

2nd Floor 10-12 Bourlet Close
London
W1W 7BR

Registered Number

05318942 (England and Wales)
Theori Property Management Limited
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets45,263,6875,250,000
Investments5100100
5,263,7875,250,100
Current assets
Debtors6333,925290,697
Cash at bank and on hand77,55939,584
411,484330,281
Creditors amounts falling due within one year7(1,075,159)(1,143,318)
Net current assets (liabilities)(663,675)(813,037)
Total assets less current liabilities4,600,1124,437,063
Creditors amounts falling due after one year8(1,236,583)(1,161,121)
Provisions for liabilities9(600,833)(600,833)
Net assets2,762,6962,675,109
Capital and reserves
Called up share capital120120
Profit and loss account2,762,5762,674,989
Shareholders' funds2,762,6962,675,109
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2024, and are signed on its behalf by:
Mandeep Singh Binning
Director
Registered Company No. 05318942
Theori Property Management Limited
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the net value of rent received as per rental agreement.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Vehicles5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Investment properties are stated at fair market valuations. Surplus or deficits arising on the revaluation are transferred to the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year44
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Vehicles

Total

£££
Cost or valuation
At 01 March 235,250,000-5,250,000
Additions7,6397,56015,199
At 29 February 245,257,6397,5605,265,199
Depreciation and impairment
Charge for year-1,5121,512
At 29 February 24-1,5121,512
Net book value
At 29 February 245,257,6396,0485,263,687
At 28 February 235,250,000-5,250,000
The valuation of the properties have been carried out by the directors and it reflects the fair value at the balance sheet date. The historical cost of the freehold building is 2024 - £2,854,304; 2023 - £2,846,666.
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 March 23100100
At 29 February 24100100
Net book value
At 29 February 24100100
At 28 February 23100100

Notes

1Investments in group undertakings and participating interests
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables30,42923,740
Other debtors292,598262,798
Prepayments and accrued income10,8984,159
Total333,925290,697
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables16,2611,576
Bank borrowings and overdrafts17,41984,807
Amounts owed to related parties86,20486,204
Taxation and social security24,09247,150
Other creditors923,181915,367
Accrued liabilities and deferred income8,0028,214
Total1,075,1591,143,318
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,236,5831,161,121
Total1,236,5831,161,121
The bank and bridging loans are secured against the properties and personal guaranties are given by the directors.
9.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

2024

2023

££
Net deferred tax liability (asset)600,833600,833
Total600,833600,833