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REGISTERED NUMBER: 10623402 (England and Wales)














TJ Assets Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






TJ Assets Limited (Registered number: 10623402)






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


TJ Assets Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: T J Bratty
Mrs J Bratty





REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA





REGISTERED NUMBER: 10623402 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

TJ Assets Limited (Registered number: 10623402)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 770,000 800,000

CURRENT ASSETS
Debtors 5 91,603 84,903
Cash at bank 1,649 1,889
93,252 86,792
CREDITORS
Amounts falling due within one year 6 162,954 158,483
NET CURRENT LIABILITIES (69,702 ) (71,691 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

700,298

728,309

CREDITORS
Amounts falling due after more than one year 7 540,228 546,184
NET ASSETS 160,070 182,125

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 250,429 220,429
Retained earnings 9 (90,459 ) (38,404 )
SHAREHOLDERS' FUNDS 160,070 182,125

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.

TJ Assets Limited (Registered number: 10623402)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





T J Bratty - Director


TJ Assets Limited (Registered number: 10623402)

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

1. STATUTORY INFORMATION

TJ Assets 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.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 NIL (2023 - NIL).

TJ Assets Limited (Registered number: 10623402)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 800,000
Revaluations (30,000 )
At 29 February 2024 770,000
NET BOOK VALUE
At 29 February 2024 770,000
At 28 February 2023 800,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2023 60,000
Valuation in 2022 50,000
Valuation in 2021 110,429
Valuation in 2024 (30,000 )
Cost 579,571
770,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 91,603 84,903

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1 ) -
Other creditors 450 450
Due to related company 72,005 72,005
Directors' current accounts 89,864 84,864
Accrued expenses 636 1,164
162,954 158,483

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 37,228 43,184
Bank loans more 5 yrs non-inst 503,000 503,000
540,228 546,184

TJ Assets Limited (Registered number: 10623402)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 503,000 503,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 (38,404 ) 220,429 182,025
Deficit for the year (22,055 ) (22,055 )
Reserves transfer (30,000 ) 30,000 -
At 29 February 2024 (90,459 ) 250,429 159,970

10. RELATED PARTY DISCLOSURES

Mr T Bratty is a director and shareholder of Gunwharf News Limited. As at 29 February 2024, the company owed Gunwharf News Limited £72,005 (2023: £72,005).

Mr T Bratty is a director and shareholder of TJ Events Limited. As at 29 February 2024 TJ Events Ltd owed the company £77,900 (2023: £75,400).