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REGISTERED NUMBER: 04333128 (England and Wales)















TARA PROPERTY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






TARA PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 04333128)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TARA PROPERTY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M Hari





REGISTERED OFFICE: 2nd Floor, One Hobbs House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 04333128 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

TARA PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 04333128)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 856,090 786,635

CURRENT ASSETS
Debtors 5 523 784
Cash at bank 1,247 32,208
1,770 32,992
CREDITORS
Amounts falling due within one year 6 96,910 127,721
NET CURRENT LIABILITIES (95,140 ) (94,729 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

760,950

691,906

CREDITORS
Amounts falling due after more than one year 7 (102,811 ) (110,278 )

PROVISIONS FOR LIABILITIES (13,300 ) -
NET ASSETS 644,839 581,628

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 526,339 469,639
Retained earnings 11 118,498 111,987
SHAREHOLDERS' FUNDS 644,839 581,628

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.

TARA PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 04333128)

BALANCE SHEET - continued
31 MARCH 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





M Hari - Director


TARA PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 04333128)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Tara Property Company 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 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
Tangible fixed assets include investment properties, which are valued annually by the director. The surplus or deficit on revaluation is transferred to revaluation reserve account. No depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their useful economic lives and is necessary to give a true and fair view. Depreciation is only one of the many factors reflected in the annual review and the amount which might otherwise have been shown cannot be separately identified or quantified.

Tangible fixed assets other than investment properties are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows

Plant and Machinery 5 years straight line

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 1 (2023 - 1 ) .

TARA PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 04333128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 785,000 3,910 788,910
Revaluations 70,000 - 70,000
At 31 March 2024 855,000 3,910 858,910
DEPRECIATION
At 1 April 2023 - 2,275 2,275
Charge for year - 545 545
At 31 March 2024 - 2,820 2,820
NET BOOK VALUE
At 31 March 2024 855,000 1,090 856,090
At 31 March 2023 785,000 1,635 786,635

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2012 315,361 - 315,361
Valuation in 2013 90,000 - 90,000
Valuation in 2016 92,000 - 92,000
Valuation in 2017 7,729 936 8,665
Valuation in 2020 253,910 249 254,159
Valuation in 2022 16,000 2,725 18,725
Valuation in 2023 10,000 - 10,000
Valuation in 2024 70,000 - 70,000
855,000 3,910 858,910

The investment properties were revalued at the year-end date to their fair value of £855,000 by the Director, based on his online research. If the investment properties were included in the balance sheet on an historical cost basis, then the carrying amount would be £785,000 (2023: £785,000). The director is of the opinion that, given the static nature of the property market in recent times, the difference between the fair value and the estimated fair value was not significant, therefore he has adopted the fair value based on their research.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 523 784

TARA PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 04333128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 7,466 109,026
Taxation and social security 1,578 7,114
Other creditors 87,866 11,581
96,910 127,721

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 22,811 30,278
Other creditors 80,000 80,000
102,811 110,278

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,466 109,026

Amounts falling due between one and two years:
Bank loans - 1-2 years 15,411 15,091

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,400 15,187

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 30,277 139,304

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary Shares £1 2 2

TARA PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 04333128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 111,987 469,639 581,626
Profit for the year 6,511 6,511
Revaluation during the year - 56,700 56,700
At 31 March 2024 118,498 526,339 644,837

12. RELATED PARTY DISCLOSURES

At the year-end date, included within creditors, amounts falling due within one year is an amount of £85,804 (2023: £8,982), and included within creditors, amounts falling due after more than one year is an amount of £80,000 (2023: £80,000). All amounts are due to M Hari.

The loans are unsecured and interest free.

13. ULTIMATE CONTROLLING PARTY

The controlling party is M Hari.