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REGISTERED NUMBER: 12863974 (England and Wales)











TETRAD PROPERTIES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






TETRAD PROPERTIES LTD (REGISTERED NUMBER: 12863974)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


TETRAD PROPERTIES LTD (REGISTERED NUMBER: 12863974)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 660,000 590,707

CURRENT ASSETS
Debtors 5 290 -
Investments 6 107,850 106,500
Prepayments and accrued income 634 10,332
Cash at bank 5,877 10,434
114,651 127,266
CREDITORS
Amounts falling due within one year 7 317,268 320,169
NET CURRENT LIABILITIES (202,617 ) (192,903 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

457,383

397,804

CREDITORS
Amounts falling due after more than one
year

8

(367,965

)

(376,521

)

PROVISIONS FOR LIABILITIES (17,323 ) -

ACCRUALS AND DEFERRED INCOME (1,638 ) (1,560 )
NET ASSETS 70,457 19,723

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 51,970 -
Retained earnings 18,387 19,623
SHAREHOLDERS' FUNDS 70,457 19,723

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.

TETRAD PROPERTIES LTD (REGISTERED NUMBER: 12863974)

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 and authorised for issue by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:




Mr S J Poole - Director



Mr R D Hill - Director


TETRAD PROPERTIES LTD (REGISTERED NUMBER: 12863974)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Tetrad Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12863974

Registered office: 3 Weekley Wood Close
Kettering
Northamptonshire
NN14 1UQ

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts derived from rental income during the year.

Interest income
Revenue is recognised as interest accrues using the effective interest method.

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.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

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.


TETRAD PROPERTIES LTD (REGISTERED NUMBER: 12863974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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 4 (2023 - 4 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 590,707
Revaluations 69,293
At 29 February 2024 660,000
NET BOOK VALUE
At 29 February 2024 660,000
At 28 February 2023 590,707

Investment property was valued on a fair value basis on 29 February 2024 by the directors of the company.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 590,707
Valuation in 2024 69,293
660,000

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 590,707 590,707

The freehold property was valued on a fair value basis on 29 February 2024 by the directors .

TETRAD PROPERTIES LTD (REGISTERED NUMBER: 12863974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 290 -

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 107,850 106,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,536 8,230
Trade creditors 168 156
Taxation and social security - 3,719
Other creditors 308,564 308,064
317,268 320,169

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 367,965 376,521

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 330,539 340,436

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 376,501 384,751

The bank loans are secured by way of fixed charges over the company's investment properties.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

TETRAD PROPERTIES LTD (REGISTERED NUMBER: 12863974)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


11. RESERVES
Fair
value
reserve
£   
Changes in fair value 51,970

At 29 February 2024 51,970