2023-01-012023-12-312023-12-31false10520016TEULU ALLEN 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TEULU ALLEN LIMITED

Registered Number
10520016
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

TEULU ALLEN LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

James Guy Allen

Registered Address

111 Whitchurch Road
Cardiff
CF14 3JQ

Registered Number

10520016 (England and Wales)
TEULU ALLEN LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,5274,595
Investment property42,641,3683,175,750
2,643,8953,180,345
Current assets
Debtors516,6614,509
Cash at bank and on hand7,20719,676
23,86824,185
Creditors amounts falling due within one year6(816,347)(1,306,640)
Net current assets (liabilities)(792,479)(1,282,455)
Total assets less current liabilities1,851,4161,897,890
Provisions for liabilities7(120,420)(142,546)
Net assets1,730,9961,755,344
Capital and reserves
Called up share capital1,195,1001,195,100
Other reserves359,040427,638
Profit and loss account176,856132,606
Shareholders' funds1,730,9961,755,344
The financial statements were approved and authorised for issue by the Director on 4 October 2024, and are signed on its behalf by:
James Guy Allen
Director
Registered Company No. 10520016
TEULU ALLEN LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

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.
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 rent receivable in the period. Income is recognised in the period to which it relates.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Investment property
Investment property which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit and loss account.
Financial instruments
Valuation of financial instruments policy The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year23
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 January 233,6543,5627,216
Additions196-196
Disposals(1,720)-(1,720)
At 31 December 232,1303,5625,692
Depreciation and impairment
At 01 January 231,1851,4362,621
Charge for year6174161,033
On disposals(489)-(489)
At 31 December 231,3131,8523,165
Net book value
At 31 December 238171,7102,527
At 31 December 222,4692,1264,595
4.Investment property
In the opinion of the director, the market value of the other property is not materially different to the carrying value in the accounts as the balance sheet date.

£
Fair value at 01 January 233,175,750
Additions10,618
Disposals(545,000)
At 31 December 232,641,368
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables16,520250
Other debtors-3,850
Prepayments and accrued income141409
Total16,6614,509
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables4,535227
Taxation and social security22,84216,412
Other creditors787,7701,288,201
Accrued liabilities and deferred income1,2001,800
Total816,3471,306,640
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)120,420142,546
Total120,420142,546
8.Related party transactions
Included in other creditors due with in one year at the year end is an amount of £778,895(2022:£1,285,548) due to the directors. Included in creditors falling due within one year is due to companies connected to the director. Teulu Vets Limited £2,695 (2022: £3,850 debtor balance)