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REGISTERED NUMBER: 12462385 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

TASKER PROPERTY LTD

TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)






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


TASKER PROPERTY LTD

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: Mr N J Tasker
Mrs N J Tasker





REGISTERED OFFICE: 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 12462385 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 634 190
Investment property 5 298,000 360,000
298,634 360,190

CURRENT ASSETS
Debtors 6 1,042 1,030
Cash at bank and in hand 2,484 940
3,526 1,970
CREDITORS
Amounts falling due within one year 7 1,845 2,408
NET CURRENT ASSETS/(LIABILITIES) 1,681 (438 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,315

359,752

CREDITORS
Amounts falling due after more than one
year

8

(353,791

)

(343,392

)

PROVISIONS FOR LIABILITIES 9 (121 ) (36 )
NET (LIABILITIES)/ASSETS (53,597 ) 16,324

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 5,755 67,755
Retained earnings (59,452 ) (51,531 )
SHAREHOLDERS' FUNDS (53,597 ) 16,324

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.

TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





Mr N J Tasker - Director


TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Tasker 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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director, the shareholders and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

Turnover
Rental income from investment property leased out under operating leases is recognised in the profit and loss on a straight-line basis over the term of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
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,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.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023 1,499
Additions 671
At 29 February 2024 2,170
DEPRECIATION
At 1 March 2023 1,309
Charge for year 227
At 29 February 2024 1,536
NET BOOK VALUE
At 29 February 2024 634
At 28 February 2023 190

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 360,000
Revaluations (62,000 )
At 29 February 2024 298,000
NET BOOK VALUE
At 29 February 2024 298,000
At 28 February 2023 360,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 292,245
Valuation in 2023 67,755
Valuation in 2024 (62,000 )
298,000

The Investment Property was valued on an open market basis on 28 February 2024 by the Directors. .

TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 929 929
Prepayments 113 101
1,042 1,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors - 1,123
Directors' current accounts 947 386
Accruals 898 899
1,845 2,408

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other creditors 276,791 226,392
Directors' loan accounts 77,000 117,000
353,791 343,392

9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax
Accelerated capital allowances 121 36

Deferred
tax
£   
Balance at 1 March 2023 36
Provided during year 85
Balance at 29 February 2024 121

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

TASKER PROPERTY LTD (REGISTERED NUMBER: 12462385)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

11. RESERVES
Fair
value
reserve
£   
At 1 March 2023 67,755
Revaluation (62,000 )

At 29 February 2024 5,755