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Registration number: 08731976

Tarry Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Tarry Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Tarry Properties Ltd

Company Information

Director

Ms A E Tarry

Registered office

Fountaindale House
Ricket Lane
Blidworth
Nottingham
NG21 0ND

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Tarry Properties Ltd

(Registration number: 08731976)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

1,381

843,503

Investment property

6

476,602

455,552

 

477,984

1,299,056

Current assets

 

Debtors

7

1,423,300

1,415,035

Cash at bank and in hand

 

2,506

756

 

1,425,806

1,415,791

Creditors: Amounts falling due within one year

8

(1,584,930)

(1,387,122)

Net current (liabilities)/assets

 

(159,124)

28,669

Net assets

 

318,860

1,327,725

Capital and reserves

 

Called up share capital

5,761,168

5,761,168

Retained earnings

(5,442,308)

(4,433,443)

Shareholders' funds

 

318,860

1,327,725

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 October 2024
 

.........................................
Ms A E Tarry
Director

 

Tarry Properties Ltd

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Retained earnings
£

Total
£

At 1 February 2023

5,761,168

(4,433,443)

1,327,725

Loss for the year

-

(1,008,865)

(1,008,865)

At 31 January 2024

5,761,168

(5,442,308)

318,860

Share capital
£

Retained earnings
£

Total
£

At 1 February 2022

5,761,168

(4,065,168)

1,696,000

Loss for the year

-

(368,275)

(368,275)

At 31 January 2023

5,761,168

(4,433,443)

1,327,725

 

Tarry Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fountaindale House
Ricket Lane
Blidworth
Nottingham
NG21 0ND

These financial statements were authorised for issue by the director on 28 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

Straight line over 20 years

Plant and machinery

Straight line over 10 years

 

Tarry Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Office equipment

Straight line over 4 years

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

0%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Tarry Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

1

1

At 31 January 2024

1

1

Amortisation

Carrying amount

At 31 January 2024

1

1

At 31 January 2023

1

1

 

Tarry Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

1,185,209

447,706

1,632,915

Additions

-

1,441

1,441

Disposals

(1,185,209)

(447,706)

(1,632,915)

At 31 January 2024

-

1,441

1,441

Depreciation

At 1 February 2023

434,557

354,855

789,412

Charge for the year

59,261

37,676

96,937

Eliminated on disposal

(493,818)

(392,471)

(886,289)

At 31 January 2024

-

60

60

Carrying amount

At 31 January 2024

-

1,381

1,381

At 31 January 2023

750,652

92,851

843,503

Included within the net book value of land and buildings above is £Nil (2023 - £750,652) in respect of long leasehold land and buildings.
 

6

Investment properties

2024
£

At 1 February

455,552

Additions

21,050

At 31 January

476,602

The property has been valued by the director based on current market value.

There has been no valuation of investment property by an independent valuer.

7

Debtors

2024
£

2023
£

Prepayments

1,758

6,276

Other debtors

1,421,542

1,408,759

1,423,300

1,415,035

 

Tarry Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

576,916

477,871

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

279,121

204,621

Accruals and deferred income

 

1,650

10,252

Other creditors

 

727,243

694,378

 

1,584,930

1,387,122

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

10

Related party transactions

Included within other debtors are the following balances, in respect of companies which are related by virtue of common ownership and directorship :

At the year end, an amount of £1,417,966 (2023: £1,406,475) was owed by Shoby Property Unit Trust.

Included within other crediors are the following balances, in respect of companies which are related by virtue of common ownership and directorship :

At the year end, an amount of £279,121 (2023: £204,261) was owed to Tarry Residential Ltd.

11

Parent and ultimate parent undertaking

The company's immediate parent is Tarry Holdings Limited, incorporated in England & Wales.

 The ultimate controlling party is Ms A E Tarry.