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REGISTERED NUMBER: 11227516 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

TGOP LIMITED

TGOP LIMITED (REGISTERED NUMBER: 11227516)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TGOP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr N G Kephalas
Mr R Soltanie





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 11227516 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

TGOP LIMITED (REGISTERED NUMBER: 11227516)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 17 1
Investment property 5 2,504,285 2,366,977
2,504,302 2,366,978

CURRENT ASSETS
Debtors 6 1,293,804 1,196,191
Cash at bank and in hand 25,526 59,760
1,319,330 1,255,951
CREDITORS
Amounts falling due within one year 7 272,183 209,373
NET CURRENT ASSETS 1,047,147 1,046,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,551,449

3,413,556

CREDITORS
Amounts falling due after more than one
year

8

(1,021,571

)

(1,043,057

)

PROVISIONS FOR LIABILITIES 10 (330,600 ) (225,300 )
NET ASSETS 2,199,278 2,145,199

CAPITAL AND RESERVES
Called up share capital 2 2
Non-distributable reserves 991,931 959,923
Retained earnings 1,207,345 1,185,274
SHAREHOLDERS' FUNDS 2,199,278 2,145,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

TGOP LIMITED (REGISTERED NUMBER: 11227516)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


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 2 October 2024 and were signed on its behalf by:




Mr R Soltanie - Director



Mr N G Kephalas - Director


TGOP LIMITED (REGISTERED NUMBER: 11227516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

TGOP 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.

Preparation of consolidated financial statements
The financial statements contain information about TGOP Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the value of rental income chargeable in respect of the company's investment properties. Turnover is recognised evenly over the period of the rental agreement.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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.

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.

TGOP LIMITED (REGISTERED NUMBER: 11227516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 June 2023 1
Additions 16
At 31 May 2024 17
NET BOOK VALUE
At 31 May 2024 17
At 31 May 2023 1


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,366,977
Revaluations 137,308
At 31 May 2024 2,504,285
NET BOOK VALUE
At 31 May 2024 2,504,285
At 31 May 2023 2,366,977

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 137,308
Cost 2,366,977
2,504,285

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,006,144 1,084,371
Amounts owed by participating interests 270,000 111,391
Other debtors 17,660 429
1,293,804 1,196,191

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 114,935 93,448
Amounts owed to participating interests 84,240 34,240
Taxation and social security 7,201 4,492
Other creditors 65,807 77,193
272,183 209,373

TGOP LIMITED (REGISTERED NUMBER: 11227516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,021,571 1,043,057

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,136,506 1,136,505

Bank loans are secured by way of fixed charge on the investment properties held in the entity.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 330,600 225,300

Deferred
tax
£   
Balance at 1 June 2023 225,300
Provided during year 105,300
Balance at 31 May 2024 330,600

11. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, are interest free amounts of £34,249 (2023: £36,579) owed to R Soltanie and £9 (2023: £2,339) owed to N G Kephalas, directors of the company.