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REGISTERED NUMBER: 10023909 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Tips 7 Properties Ltd

Tips 7 Properties Ltd (Registered number: 10023909)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tips 7 Properties Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: J C Tipuric
A P Tipuric





REGISTERED OFFICE: The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN





REGISTERED NUMBER: 10023909 (England and Wales)





ACCOUNTANTS: Ashmole & Co.
Chartered Certified Accountants
The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN

Tips 7 Properties Ltd (Registered number: 10023909)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 132,100

CURRENT ASSETS
Cash at bank and in hand 79,026 378

CREDITORS
Amounts falling due within one year 5 53,743 95,596
NET CURRENT ASSETS/(LIABILITIES) 25,283 (95,218 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,283

36,882

PROVISIONS FOR LIABILITIES - 10,678
NET ASSETS 25,283 26,204

CAPITAL AND RESERVES
Called up share capital 20 20
Revaluation reserve 6 - 48,923
Retained earnings 25,263 (22,739 )
25,283 26,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Tips 7 Properties Ltd (Registered number: 10023909)

Balance Sheet - continued
29 February 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 Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:




J C Tipuric - Director



A P Tipuric - Director


Tips 7 Properties Ltd (Registered number: 10023909)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Tips 7 Properties Ltd 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.

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.

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 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 132,100
Disposals (132,100 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 132,100

Tips 7 Properties Ltd (Registered number: 10023909)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 53,391
Taxation and social security 10,823 -
Other creditors 42,920 42,205
53,743 95,596

6. RESERVES
Revaluation
reserve
£   
At 1 March 2023 48,923
Transfer to distributable (48,923 )

At 29 February 2024 -

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
J C Tipuric and A P Tipuric
Balance outstanding at start of year 6,658 5,486
Amounts advanced 728 1,172
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,386 6,658