REGISTERED NUMBER: |
TORENIA LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
REGISTERED NUMBER: |
TORENIA LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
TORENIA LIMITED (REGISTERED NUMBER: 12132082) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TORENIA LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor, One Hobbs House, |
Harrovian Business Village |
Bessborough Road |
Harrow |
Middlesex |
HA1 3EX |
TORENIA LIMITED (REGISTERED NUMBER: 12132082) |
BALANCE SHEET |
31 JULY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the director and authorised for issue on |
TORENIA LIMITED (REGISTERED NUMBER: 12132082) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Torenia Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 is recognised when the rental properties are occupied by tenants. |
Tangible fixed assets |
Tangible fixed assets include investment properties, which are valued annually by the director. The surplus or deficit on revaluation is transferred to revaluation reserve account. No depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their useful economic lives and is necessary to give a true and fair view. Depreciation is only one of the many factors reflected in the annual review and the amount which might otherwise have been shown cannot be separately identified or quantified. |
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 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. |
Cash at bank and in hand |
Cash at bank and in hand is represented by cash in hand and deposits held with financial institutions repayable without penalty or a notice of not less than 24 hour's. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
TORENIA LIMITED (REGISTERED NUMBER: 12132082) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1 August 2023 |
Disposals | ( |
) |
Revaluations |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Cost or valuation at 31 July 2024 is represented by: |
Land and |
buildings |
£ |
Valuation in 2023 | 462,255 |
Cost | (22,357 | ) |
439,898 |
Freehold properties were revalued at the year-end date to their fair value of £439,898 by the Directors, based on their online research. If the freehold properties were included in the balance sheet on an historical cost basis, then the carrying amount would be £462,255 (2023 - £462,255). The directors are of the opinion that, given the static nature of the property market in recent times, the difference between the fair value and the estimated fair value was not significant, therefore they have adopted the fair value based on their research. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
TORENIA LIMITED (REGISTERED NUMBER: 12132082) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary Share A | £1 | 10 | 10 |
Ordinary Share B | £1 | 10 | 10 |
Ordinary Share C | £1 | 10 | 10 |
Ordinary Share D | £1 | 10 | 10 |
40 | 40 |
The issued share capital rank Pari Passu in all respects. |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 August 2023 |
Deficit for the year | ( |
) |
Dividends | ( |
) |
Revaluation during the year |
At 31 July 2024 |
9. | RELATED PARTY DISCLOSURES |
At the year-end date, included within creditors, amounts falling due within one year is £418,583 (2023: £445,383) owed to the director Mrs N Shah. This amount is unsecured, interest-free and repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |