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REGISTERED NUMBER: 13199461 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 February 2024

for

TEAG Property Limited

TEAG Property Limited (Registered number: 13199461)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TEAG Property Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: T Edney
Mrs D Edney





REGISTERED OFFICE: Spectrum House
2B Suttons Lane
Hornchurch
Essex
RM12 6RJ





REGISTERED NUMBER: 13199461 (England and Wales)





ACCOUNTANTS: Johal & Company
Chartered Certified Accountants
& Registered Auditors
Spectrum House
2B Suttons Lane
Hornchurch
Essex
RM12 6RJ

TEAG Property Limited (Registered number: 13199461)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 50,050 50,000
Investment property 5 634,142 420,561
684,192 470,561

CURRENT ASSETS
Debtors 6 401,210 11,350
Cash at bank 2,594 63,771
403,804 75,121
CREDITORS
Amounts falling due within one year 7 651,271 250,500
NET CURRENT LIABILITIES (247,467 ) (175,379 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,725

295,182

CREDITORS
Amounts falling due after more than one
year

8

446,850

306,025
NET LIABILITIES (10,125 ) (10,843 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (10,127 ) (10,845 )
(10,125 ) (10,843 )

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.

TEAG Property Limited (Registered number: 13199461)

Statement of Financial Position - 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 23 October 2024 and were signed on its behalf by:





T Edney - Director


TEAG Property Limited (Registered number: 13199461)

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

1. STATUTORY INFORMATION

TEAG Property 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.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Implications of covid-19 on our operations
Management has considered the consequences of COVID-19 and other events and conditions, and it has determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

Going concern
These accounts have been prepared on a going concern basis. The company is currently supported by the director's. The director's have agreed to provide their support for a period no less than twelve months, therefore, the director's consider it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

TEAG Property Limited (Registered number: 13199461)

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023 50,000
Additions 50
At 29 February 2024 50,050
NET BOOK VALUE
At 29 February 2024 50,050
At 28 February 2023 50,000

This company has acquired 50% of the shares of Edney Nunn Investments Ltd (15004094) consisting of 50 shares for £1 each.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 420,561
Additions 213,581
At 29 February 2024 634,142
NET BOOK VALUE
At 29 February 2024 634,142
At 28 February 2023 420,561

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,210 -
Other debtors 400,000 11,350
401,210 11,350

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 13 -
Other creditors 651,258 250,500
651,271 250,500

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 446,850 306,025

TEAG Property Limited (Registered number: 13199461)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
29.2.24 28.2.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 446,850 306,025