REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Team Green Property Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Team Green Property Ltd |
Team Green Property Ltd (Registered number: 12136437) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Team Green Property Ltd |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Kingfisher Court |
Bowesfield Park |
Stockton on Tees |
TS18 3EX |
Team Green Property Ltd (Registered number: 12136437) |
Balance Sheet |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
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. |
Team Green Property Ltd (Registered number: 12136437) |
Balance Sheet - continued |
31 August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Team Green Property Ltd (Registered number: 12136437) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
Team Green Property Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income receivable and is measured at the fair value of the consideration receivable, before deduction of agency fees. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is 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 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. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Team Green Property Ltd (Registered number: 12136437) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 September 2023 |
Additions |
Disposals | ( |
) |
At 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2023 |
Revaluations | 5,000 |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
Fair value at 31 August 2024 is represented by: |
£ |
Valuation in 2021 | 13,460 |
Valuation in 2022 | 10,000 |
Valuation in 2024 | 5,000 |
Cost | 121,540 |
150,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 121,540 | 121,540 |
Investment property was valued on an open market basis on 31 August 2024 by the directors . |
Team Green Property Ltd (Registered number: 12136437) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans | 89,495 | 89,495 |
The company's loans are secured by way of legal mortgage over the investment property. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Team Green Property Ltd (Registered number: 12136437) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 September 2023 |
Revaluation of property | 5,000 |
Deferred tax on property revaluation | (950 | ) |
At 31 August 2024 |