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REGISTERED NUMBER: 00532580 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

TOWN FREEHOLD INVESTMENT PROPERTIES
LIMITED

TOWN FREEHOLD INVESTMENT PROPERTIES
LIMITED (REGISTERED NUMBER: 00532580)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOWN FREEHOLD INVESTMENT PROPERTIES
LIMITED

Company Information
for the year ended 31 March 2024







DIRECTOR: T Q Leigh





REGISTERED OFFICE: 172 Greenford Road
Harrow
Middlesex
HA1 3QZ





REGISTERED NUMBER: 00532580 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

TOWN FREEHOLD INVESTMENT PROPERTIES
LIMITED (REGISTERED NUMBER: 00532580)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 149,821 149,821

CREDITORS
Amounts falling due within one year 5 2,965 (28,185 )
NET CURRENT ASSETS/(LIABILITIES) 2,965 (28,185 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,786

121,636

CREDITORS
Amounts falling due after more than one
year

6

(14,950

)

-
NET ASSETS 137,836 121,636

CAPITAL AND RESERVES
Called up share capital 125 125
Capital reserve 24,427 24,427
Retained earnings 113,284 97,084
SHAREHOLDERS' FUNDS 137,836 121,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 7 November 2024 and were signed by:



T Q Leigh - Director


TOWN FREEHOLD INVESTMENT PROPERTIES
LIMITED (REGISTERED NUMBER: 00532580)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Town Freehold Investment Properties Limited 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.

Turnover
Turnover represents total ground rents receivable for the period.

Investment properties
Freehold investment properties are stated at cost less provision, where necessary, for permanent diminution in value. This is not in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) (''FRSSE'') which requires investment properties to be stated at their open market value. No valuations have been carried out and accordingly it is not possible to quantify the effect on the net assets at the current or previous balance sheet date, or the effect on the total recognised gains and losses for the current or previous period. The departure has no effect on the profit or loss for the current or previous period.

In accordance with the FRSSE no depreciation is provided in respect of freehold investment properties. This is not in accordance with the Companies Act 2006 which requires tangible fixed assets to be depreciated over their estimated useful lives, and is necessary to show a true and fair view. Depreciation is only one of many factors reflected in the value of investment properties and the amount which might otherwise have been shown cannot be separately identified or quantified.

Profits or losses arising on disposal of freehold ground rents are adjusted on the capital reserve after taking into account taxation arising thereon. This is in accordance with the company's Memorandum and Articles of Association.

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.

TOWN FREEHOLD INVESTMENT PROPERTIES
LIMITED (REGISTERED NUMBER: 00532580)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold
Freehold ground
property rents Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 141,346 8,475 149,821
NET BOOK VALUE
At 31 March 2024 141,346 8,475 149,821
At 31 March 2023 141,346 8,475 149,821

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to related undertakings 27,637 57,835
Corporation tax 3,944 2,752
Other creditors (34,546 ) (32,402 )
(2,965 ) 28,185

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Accruals and deferred income 14,950 -

7. RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £27,637 (2023: £57,835) was owed to Dennis Reed Limited, a company under common control. These balances are unsecured, interest-free and have no fixed repayment date.

8. ULTIMATE CONTROLLING PARTY

Mr T Q Leigh, the sole director, together with members of his close family control the company by virtue of a controlling interest (directly or indirectly) of 53.6% of the issued ordinary share capital.