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REGISTERED NUMBER: 04157959 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

T.M.G. Property Ltd

T.M.G. Property Ltd (Registered number: 04157959)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T.M.G. Property Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: C C Deakin
E Morse-Brown





SECRETARY: E Morse-Brown





REGISTERED OFFICE: Talbot House
Talbot Street
Brierley Hill
West Midlands
DY5 3DL





REGISTERED NUMBER: 04157959 (England and Wales)





ACCOUNTANTS: S R Higgs
Accountant
101 Dixons Green Road
Dudley
West Midlands
DY2 7DJ

T.M.G. Property Ltd (Registered number: 04157959)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 198,000 157,005

CURRENT ASSETS
Cash at bank 2,666 3,739

CREDITORS
Amounts falling due within one year 5 4,103 4,497
NET CURRENT LIABILITIES (1,437 ) (758 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,563

156,247

CREDITORS
Amounts falling due after more than one
year

6

124,365

124,365
NET ASSETS 72,198 31,882

CAPITAL AND RESERVES
Called up share capital 2 4
Revaluation reserve 8 86,591 -
Retained earnings (14,395 ) 31,878
SHAREHOLDERS' FUNDS 72,198 31,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

T.M.G. Property Ltd (Registered number: 04157959)

Balance Sheet - continued
29 February 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 18 September 2024 and were signed on its behalf by:




C C Deakin - Director



E Morse-Brown - Director


T.M.G. Property Ltd (Registered number: 04157959)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

T.M.G. Property Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - not provided

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 (2023 - 4 ) .

T.M.G. Property Ltd (Registered number: 04157959)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Short
leasehold
£   
COST OR VALUATION
At 1 March 2023 157,005
Disposals (45,596 )
Revaluations 86,591
At 29 February 2024 198,000
NET BOOK VALUE
At 29 February 2024 198,000
At 28 February 2023 157,005

Cost or valuation at 29 February 2024 is represented by:

Short
leasehold
£   
Valuation in 2023 157,005
Valuation in 2024 40,995
198,000

Leasehold land and buildings were valued on an open market basis on 14 July 2023 by Skitts Estate Agents .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 333 1,811
Other creditors 3,770 2,686
4,103 4,497

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 124,365 124,365

7. SECURED DEBTS

Paragon Mortgages Limited hold a first legal charge over ; 8 Bagleys Road, Stourbridge, West Midlands, 14 Bagleys Road, Stourbridge, West Midlands and 93 Victoria Road, Quarry Bank, West Midlands.
HSBC Bank Plc hold a first legal charge over ; 1 New Rowley Road, Dudley, West Midlands.
Paragon Mortgages Limited and HSBC Bank Plc both hold a personal guarantee from the directors in respect of any shortfall over and above the first legal charge.

T.M.G. Property Ltd (Registered number: 04157959)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. RESERVES
Revaluation
reserve
£   
Revaluation in year 86,591

At 29 February 2024 86,591

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.