Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 11226944 Mr Gareth Coker Mr Richard Thomas Mr Lee Davies iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11226944 2023-02-28 11226944 2024-02-28 11226944 2023-03-01 2024-02-28 11226944 frs-core:CurrentFinancialInstruments 2024-02-28 11226944 frs-core:Non-currentFinancialInstruments 2024-02-28 11226944 frs-core:ShareCapital 2024-02-28 11226944 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 11226944 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 11226944 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 11226944 frs-bus:SmallEntities 2023-03-01 2024-02-28 11226944 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 11226944 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 11226944 frs-bus:Director1 2023-03-01 2024-02-28 11226944 frs-bus:Director2 2023-03-01 2024-02-28 11226944 frs-bus:Director3 2023-03-01 2024-02-28 11226944 frs-countries:EnglandWales 2023-03-01 2024-02-28 11226944 2022-02-28 11226944 2023-02-28 11226944 2022-03-01 2023-02-28 11226944 frs-core:CurrentFinancialInstruments 2023-02-28 11226944 frs-core:Non-currentFinancialInstruments 2023-02-28 11226944 frs-core:ShareCapital 2023-02-28 11226944 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11226944
TCD RENTALS LTD
Unaudited Financial Statements
For The Year Ended 28 February 2024
CACD LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 11226944
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 120,000 339,193
120,000 339,193
CURRENT ASSETS
Cash at bank and in hand 88,745 86,920
88,745 86,920
Creditors: Amounts Falling Due Within One Year 5 (12,927 ) (13,701 )
NET CURRENT ASSETS (LIABILITIES) 75,818 73,219
TOTAL ASSETS LESS CURRENT LIABILITIES 195,818 412,412
Creditors: Amounts Falling Due After More Than One Year 6 (179,603 ) (370,935 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,000 ) (11,348 )
NET ASSETS 13,215 30,129
CAPITAL AND RESERVES
Called up share capital 8 3 3
Income Statement 13,212 30,126
SHAREHOLDERS' FUNDS 13,215 30,129
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Gareth Coker
Director
Mr Richard Thomas
Director
Mr Lee Davies
Director
01/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TCD RENTALS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11226944 . The registered office is 1 High Street, Pontardawe, Swansea, SA8 4HU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Income is derived from rental of properties.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Taxation
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. 
Deferred tax liabilities is measured at the tax rates that are expected to apply in the period in which the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities.  The measurement of deferred tax liabilities  reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its liabilities.
Deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 339,193
Disposals (183,034 )
Fair value adjustments (36,159 )
As at 28 February 2024 120,000
The directors did not carry out a professional valuation of the Investment Properties at the period end, however they carried out their own valuation of the properties and are satisfied with the amount stated in the note above.
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5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,310 -
Bank loans and overdrafts 2,702 7,943
Accruals 765 675
Directors' loan accounts 7,150 5,083
12,927 13,701
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 89,603 280,935
Other creditors 90,000 90,000
179,603 370,935
7. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 92,305 288,878
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
9. Reserves
Within the retained reserves there are non-distributable reserves of £23,568 in relation to the revaluation gain on the investment properties.
Page 4