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Company Registration No. 10569288 (England and Wales)
Tolcarn Property Ltd Unaudited accounts for the year ended 31 January 2024
Tolcarn Property Ltd Unaudited accounts Contents
Page
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Tolcarn Property Ltd Company Information for the year ended 31 January 2024
Director
CARR, Nigel James
Company Number
10569288 (England and Wales)
Registered Office
Unit 3 47 Knightsdale Road Ipswich IP1 4JJ United Kingdom
Accountants
Together Accounting Limited 17-19 St Georges Street Norwich Norfolk NR3 1AB
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Tolcarn Property Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
27,717 
28,165 
Investment property
915,929 
15,929 
943,646 
44,094 
Current assets
Debtors
16,643 
100 
Cash at bank and in hand
7,589 
80,960 
24,232 
81,060 
Creditors: amounts falling due within one year
(179,520)
(115,016)
Net current liabilities
(155,288)
(33,956)
Total assets less current liabilities
788,358 
10,138 
Creditors: amounts falling due after more than one year
(20,957)
(29,996)
Provisions for liabilities
Deferred tax
(176,266)
- 
Net assets/(liabilities)
591,135 
(19,858)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
591,035 
(19,958)
Shareholders' funds
591,135 
(19,858)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 October 2024 and were signed on its behalf by
CARR, Nigel James Director Company Registration No. 10569288
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Tolcarn Property Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Tolcarn Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 10569288. The registered office is Unit 3 47 Knightsdale Road, Ipswich, IP1 4JJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Nil
Plant & machinery
25% - Reducing Balance
Motor vehicles
25% - Reducing Balance
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Tolcarn Property Ltd Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
- 
28,165 
28,165 
Additions
7,970 
- 
7,970 
At 31 January 2024
7,970 
28,165 
36,135 
Depreciation
Charge for the year
1,328 
7,090 
8,418 
At 31 January 2024
1,328 
7,090 
8,418 
Net book value
At 31 January 2024
6,642 
21,075 
27,717 
At 31 January 2023
- 
28,165 
28,165 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
15,929 
Net gain from fair value adjustments
900,000 
At 31 January 2024
915,929 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,393 
- 
Trade debtors
4,250 
- 
Other debtors
10,000 
100 
16,643 
100 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,710 
10,716 
Loans from directors
168,810 
104,300 
179,520 
115,016 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
20,957 
29,996 
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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