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Company No: 03477804 (England and Wales)

TASMAN HOUSE DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

TASMAN HOUSE DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

TASMAN HOUSE DEVELOPMENTS LIMITED

BALANCE SHEET

As at 30 April 2024
TASMAN HOUSE DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,899 2,895
Investment property 4 3,662,500 3,740,000
3,666,399 3,742,895
Current assets
Debtors 5 98,037 87,099
Cash at bank and in hand 94,618 66,041
192,655 153,140
Creditors: amounts falling due within one year 6 ( 1,126,667) ( 1,195,646)
Net current liabilities (934,012) (1,042,506)
Total assets less current liabilities 2,732,387 2,700,389
Creditors: amounts falling due after more than one year 7 ( 1,498,509) ( 1,450,000)
Provision for liabilities 8 ( 279,841) ( 274,611)
Net assets 954,037 975,778
Capital and reserves
Called-up share capital 100 100
Undistributable reserve 397,627 472,131
Profit and loss account 556,310 503,547
Total shareholder's funds 954,037 975,778

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Tasman House Developments Limited (registered number: 03477804) were approved and authorised for issue by the Director on 09 October 2024. They were signed on its behalf by:

Dina Wheatcroft
Director
TASMAN HOUSE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
TASMAN HOUSE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tasman House Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 21,725 21,725
Additions 1,583 1,583
At 30 April 2024 23,308 23,308
Accumulated depreciation
At 01 May 2023 18,830 18,830
Charge for the financial year 579 579
At 30 April 2024 19,409 19,409
Net book value
At 30 April 2024 3,899 3,899
At 30 April 2023 2,895 2,895

4. Investment property

Investment property
£
Valuation
As at 01 May 2023 3,740,000
Fair value movement (77,500)
As at 30 April 2024 3,662,500

Valuation

There has been no valuation of investment property by an independent valuer.

5. Debtors

2024 2023
£ £
Trade debtors 20,323 15,228
Other debtors 77,714 71,871
98,037 87,099

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Parent undertakings 0 2,000
Taxation and social security 30,467 37,985
Other creditors 1,096,200 1,155,661
1,126,667 1,195,646

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 1,498,509 1,450,000

The loans are secured against the freehold properties within the company.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 274,611) ( 220,784)
Charged to the Profit and Loss Account ( 5,230) ( 53,827)
At the end of financial year ( 279,841) ( 274,611)