Titus House Management Ltd 12724629 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 12724629 2023-08-01 2024-07-31 12724629 2024-07-31 12724629 core:CurrentFinancialInstruments 2024-07-31 12724629 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 12724629 core:Non-currentFinancialInstruments 2024-07-31 12724629 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 12724629 core:LandBuildings 2024-07-31 12724629 bus:SmallEntities 2023-08-01 2024-07-31 12724629 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12724629 bus:FilletedAccounts 2023-08-01 2024-07-31 12724629 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12724629 bus:RegisteredOffice 2023-08-01 2024-07-31 12724629 bus:Director1 2023-08-01 2024-07-31 12724629 bus:Director2 2023-08-01 2024-07-31 12724629 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12724629 core:LandBuildings 2023-08-01 2024-07-31 12724629 countries:AllCountries 2023-08-01 2024-07-31 12724629 2022-08-01 2023-07-31 12724629 2023-07-31 12724629 core:CurrentFinancialInstruments 2023-07-31 12724629 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12724629 core:Non-currentFinancialInstruments 2023-07-31 12724629 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 12724629 core:LandBuildings 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 12724629

Titus House Management Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Titus House Management Ltd

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Titus House Management Ltd

Company Information
__________________________________________________________________________

Directors

S Gibbs

P Artemi

Registered office

Unit 20
Wrotham Business Park,
Wrotham Park,
Barnet
EN5 4SZ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Titus House Management Ltd

(Registration number: 12724629)
Balance Sheet as at 31 July 2024
__________________________________________________________________________

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

12,581,954

12,581,954

Current assets

 

Debtors

4

100

100

Cash at bank and in hand

 

9,770

9,796

 

9,870

9,896

Creditors: Amounts falling due within one year

5

(5,182,260)

(4,941,760)

Net current liabilities

 

(5,172,390)

(4,931,864)

Total assets less current liabilities

 

7,409,564

7,650,090

Creditors: Amounts falling due after more than one year

5

(8,150,000)

(8,198,000)

Net liabilities

 

(740,436)

(547,910)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(740,536)

(548,010)

Shareholders' deficit

 

(740,436)

(547,910)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 



P Artemi

Director

 

Titus House Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
__________________________________________________________________________

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Titus House Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
__________________________________________________________________________

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 and subsequently measured at amortised cost using the effective interest method.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

12,581,954

12,581,954

At 31 July 2024

12,581,954

12,581,954

Depreciation

Carrying amount

At 31 July 2024

12,581,954

12,581,954

At 31 July 2023

12,581,954

12,581,954

Included within the net book value of land and buildings above is £12,581,954 (2023 - £12,581,954) in respect of freehold land and buildings.
 

4

Debtors

Current

2024
£

2023
£

Other debtors

100

100

 

100

100

 

Titus House Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
__________________________________________________________________________

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,740

1,740

Other creditors

5,180,520

4,940,020

5,182,260

4,941,760

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

8,150,000

8,198,000

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,150,000

8,198,000