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REGISTERED NUMBER: 04388504 (England and Wales)















TFIO Properties Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






TFIO Properties Limited (Registered number: 04388504)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


TFIO Properties Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs S J Moore
P J Moore



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 04388504 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Handelsbanken Bank Plc
3rd Floor, Upper Borough Court
Upper Borough Walls
Bath
BA1 1RG

TFIO Properties Limited (Registered number: 04388504)

Abridged Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 59,750 44,164
Investments 6 100 100
Investment property 7 10,456,947 10,077,775
10,516,797 10,122,039

CURRENT ASSETS
Debtors 1,583,635 1,506,582
Cash at bank 407,787 153,279
1,991,422 1,659,861
CREDITORS
Amounts falling due within one year 746,674 370,423
NET CURRENT ASSETS 1,244,748 1,289,438
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,761,545

11,411,477

CREDITORS
Amounts falling due after more than one year (355,229 ) (22,001 )

PROVISIONS FOR LIABILITIES (1,279,410 ) (1,251,516 )
NET ASSETS 10,126,906 10,137,960

TFIO Properties Limited (Registered number: 04388504)

Abridged Statement of Financial Position - continued
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 5,100 5,100
Share premium 1,591,762 1,591,762
Investment revaluation
reserve 9 5,439,568 5,439,568
Retained earnings 3,090,476 3,101,530
SHAREHOLDERS' FUNDS 10,126,906 10,137,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





P J Moore - Director


TFIO Properties Limited (Registered number: 04388504)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

TFIO 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Investment property is included at fair value. Gains are recognised in the income statement. Deferred tax is provided at the rate expected to apply when the property is sold.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

TFIO Properties Limited (Registered number: 04388504)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investment in shares are included at fair value.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 136,603
Additions 35,094
At 30 April 2024 171,697
DEPRECIATION
At 1 May 2023 92,439
Charge for year 19,508
At 30 April 2024 111,947
NET BOOK VALUE
At 30 April 2024 59,750
At 30 April 2023 44,164

TFIO Properties Limited (Registered number: 04388504)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 May 2023 36,790
Additions 35,094
At 30 April 2024 71,884
DEPRECIATION
At 1 May 2023 21,620
Charge for year 12,566
At 30 April 2024 34,186
NET BOOK VALUE
At 30 April 2024 37,698
At 30 April 2023 15,170

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 May 2023
and 30 April 2024 100
NET BOOK VALUE
At 30 April 2024 100
At 30 April 2023 100

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 10,077,775
Additions 379,172
At 30 April 2024 10,456,947
NET BOOK VALUE
At 30 April 2024 10,456,947
At 30 April 2023 10,077,775

TFIO Properties Limited (Registered number: 04388504)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2003 373,242
Valuation in 2016 3,430,532
Valuation in 2017 2,000,000
Valuation in 2018 356,083
Valuation in 2019 463,894
Cost 3,833,196
10,456,947

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

30.4.24 30.4.23
£    £   
Cost 3,833,196 3,454,024

Investment property was valued on a fair value basis on 30 April 2024 by the directors of the company .

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans - 100,000
Other loans 409,865 -
Hire purchase contracts 43,201 26,845
453,066 126,845

The bank overdraft is secured by a fixed and floating charge over all assets of the company.

The loan with Brunel Trustees Ltd, P J Moore, S J Moore and L J Moore as trustees of the Peter Moore Plastics Executive Pension Scheme is secured by a fixed charge over the freehold property known as 7 and 7A Princes Buildings, George Street and 12 Bartlett Street, Bath.

The bank loan is secured by a fixed charge over the freehold property known as 5 - 9 Bartlett Street, Land at 10 Bartlett Street, 9 Bartlett Street, and land and buildings at the rear of 8 Bartlett Street. The loan is also secured by a fixed and floating charge over all assets of the company.

The hire purchase contacts are secured against the asset to which they relate.

TFIO Properties Limited (Registered number: 04388504)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. RESERVES
Investment
revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 5,439,568