Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01falsebuying and selling of own real estate11truetruefalse 12389304 2023-02-01 2024-01-31 12389304 2022-02-01 2023-01-31 12389304 2024-01-31 12389304 2023-01-31 12389304 c:Director1 2023-02-01 2024-01-31 12389304 d:FreeholdInvestmentProperty 2024-01-31 12389304 d:FreeholdInvestmentProperty 2023-01-31 12389304 d:CurrentFinancialInstruments 2024-01-31 12389304 d:CurrentFinancialInstruments 2023-01-31 12389304 d:Non-currentFinancialInstruments 2024-01-31 12389304 d:Non-currentFinancialInstruments 2023-01-31 12389304 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12389304 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12389304 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 12389304 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 12389304 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-01-31 12389304 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-01-31 12389304 d:ShareCapital 2024-01-31 12389304 d:ShareCapital 2023-01-31 12389304 d:OtherMiscellaneousReserve 2023-02-01 2024-01-31 12389304 d:OtherMiscellaneousReserve 2024-01-31 12389304 d:OtherMiscellaneousReserve 2023-01-31 12389304 d:RetainedEarningsAccumulatedLosses 2024-01-31 12389304 d:RetainedEarningsAccumulatedLosses 2023-01-31 12389304 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 12389304 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 12389304 c:FRS102 2023-02-01 2024-01-31 12389304 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12389304 c:FullAccounts 2023-02-01 2024-01-31 12389304 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12389304 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 12389304









TW11 PROPERTY SERVICES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
TW11 PROPERTY SERVICES LTD
REGISTERED NUMBER: 12389304

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
730,000
730,000

  
730,000
730,000

Current assets
  

Cash at bank and in hand
  
558,744
565,003

  
558,744
565,003

Creditors: amounts falling due within one year
 5 
(272,710)
(271,212)

Net current assets
  
 
 
286,034
 
 
293,791

Total assets less current liabilities
  
1,016,034
1,023,791

Creditors: amounts falling due after more than one year
 6 
(545,000)
(545,000)

Provisions for liabilities
  

Deferred tax
  
(116,250)
(116,250)

  
 
 
(116,250)
 
 
(116,250)

Net assets
  
354,784
362,541


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
318,750
318,750

Profit and loss account
  
35,934
43,691

  
354,784
362,541


Page 1

 
TW11 PROPERTY SERVICES LTD
REGISTERED NUMBER: 12389304
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2024.




A Dervisholli
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TW11 PROPERTY SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

TW11 Property Sevices is a private company, limited by shares and incorporated in England and Wales (registered no 12389304).Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
TW11 PROPERTY SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
TW11 PROPERTY SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
730,000



At 31 January 2024
730,000

The valuation of the investment property was made 15th July 2022 by The Mortgage Works, on an open market value for an existing use basis and represents the right of 108 Shacklegate Lane, Twickenham, TW11 8SH.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
265,000
265,000

265,000
265,000

Page 5

 
TW11 PROPERTY SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
3,212
3,212

Other creditors
266,500
266,500

Accruals and deferred income
2,998
1,500

272,710
271,212



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
545,000
545,000

545,000
545,000



7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
545,000
545,000

545,000
545,000

545,000
545,000


Page 6

 
TW11 PROPERTY SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Deferred taxation




2024


£






Charged to profit or loss
(116,250)



At end of year
(116,250)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investment property
(116,250)
(116,250)

(116,250)
(116,250)


9.


Reserves

Other reserves

Non-distributable reserves represent the unrealised gains/losses that occur on the annual revaluation of he residential holding of the units in Investment Properties for the year under review, net of their attributable annual deferred tax effect.

 
Page 7