Registered number
12489775
Trafalgar Property Ltd
Unaudited Filleted Accounts
For The Year Ended
29 February 2024
Trafalgar Property Ltd
Registered number: 12489775
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 905,392 909,979
Current assets
Debtors 4 256 908
Cash at bank and in hand 22,494 2,536
22,750 3,444
Creditors: amounts falling due within one year 5 (472,659) (453,610)
Net current liabilities (449,909) (450,166)
Total assets less current liabilities 455,483 459,813
Creditors: amounts falling due after more than one year 6 (448,817) (457,230)
Net assets 6,666 2,583
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,566 2,483
Shareholder's funds 6,666 2,583
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robert Webb
Director
Approved by the board on 27 November 2024
Trafalgar Property Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured by the rents received.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0.005% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2023 917,314
At 29 February 2024 917,314
Depreciation
At 1 March 2023 7,335
Charge for the year 4,587
At 29 February 2024 11,922
Net book value
At 29 February 2024 905,392
At 28 February 2023 909,979
4 Debtors 2024 2023
£ £
Other debtors 256 908
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,800 4,800
Taxation and social security costs 2,034 -
Other creditors 462,825 448,810
472,659 453,610
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 392,817 401,230
Other creditors 56,000 56,000
448,817 457,230
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 371,830 379,630
Secured bank loans 400,617 406,030
Mortgages are secured on the properties.
8 Controlling party
R Webb controls the company by virtue of his 100% holding of the issued share capital.
9 Other information
Trafalgar Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
55 Lakeside Crescent
Barnet
Hertfordshire
EN4 8QH
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