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REGISTERED NUMBER: 11134260 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

TELEBAY LIMITED

TELEBAY LIMITED (REGISTERED NUMBER: 11134260)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TELEBAY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mrs C Grunfeld





REGISTERED OFFICE: 48 Fairholt Road
London
N16 5HW





REGISTERED NUMBER: 11134260 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

TELEBAY LIMITED (REGISTERED NUMBER: 11134260)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Investment property 4 255,000 255,000

CURRENT ASSETS
Cash at bank 5,311 1,624

CREDITORS
Amounts falling due within one year 5 (72,228 ) (206,070 )
NET CURRENT LIABILITIES (66,917 ) (204,446 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,083

50,554

CREDITORS
Amounts falling due after more than one
year

6

(149,745

)

(5,250

)

PROVISIONS FOR LIABILITIES (1,845 ) (1,845 )
NET ASSETS 36,493 43,459

CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 7,865 7,865
Retained earnings 9 28,627 35,593
SHAREHOLDERS' FUNDS 36,493 43,459

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

TELEBAY LIMITED (REGISTERED NUMBER: 11134260)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 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 director and authorised for issue on 28 October 2024 and were signed by:





Mrs C Grunfeld - Director


TELEBAY LIMITED (REGISTERED NUMBER: 11134260)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Telebay 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.

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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

TELEBAY LIMITED (REGISTERED NUMBER: 11134260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 255,000
NET BOOK VALUE
At 31 January 2024 255,000
At 31 January 2023 255,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2021 9,710
Cost 245,290
255,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Tax 1,192 1,192
Social security and other taxes - 843
Other creditors 43,463 175,892
Service charges 22,354 22,354
Sundry creditors 3,750 3,750
Directors' current accounts 809 809
Accrued expenses 660 1,230
72,228 206,070

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 3,770 5,250
Bank loans more 5 yrs non-inst 145,975 -
149,745 5,250

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 145,975 -

TELEBAY LIMITED (REGISTERED NUMBER: 11134260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 149,745 5,250

Under the bank loan, £6750 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 35,593 7,865 43,458
Deficit for the year (4,966 ) (4,966 )
Dividends (2,000 ) (2,000 )
At 31 January 2024 28,627 7,865 36,492

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs C Grunfeld.