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REGISTERED NUMBER: 10458481 (England and Wales)










Tir Prince Properties Limited

Financial Statements

for the Year Ended 29 February 2024






Tir Prince Properties Limited (Registered number: 10458481)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tir Prince Properties Limited

Company Information
for the year ended 29 February 2024







DIRECTORS: Mr A J Williams
Mrs A Williams





REGISTERED OFFICE: Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN





REGISTERED NUMBER: 10458481 (England and Wales)





AUDITORS: Salisbury & Company Business Solutions Limited
Statutory Auditors
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Tir Prince Properties Limited (Registered number: 10458481)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 160,000 160,000

CURRENT ASSETS
Debtors 5 100,971 87,992

CREDITORS
Amounts falling due within one year 6 163,336 160,470
NET CURRENT LIABILITIES (62,365 ) (72,478 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,635

87,522

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 46,989 -
Retained earnings 50,546 87,422
97,635 87,522

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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr A J Williams - Director


Tir Prince Properties Limited (Registered number: 10458481)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Tir Prince 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company's ultimate parent undertaking, Tir Prince Raceway Limited, includes the company in its consolidated financial statements. In these financial statements, the company is considered to be a qualifying entity (for the purpose of FRS) and has applied the exemptions available under FRS 102 in respect of the Cash Flow Statements and related notes.

Going concern
The company's liabilities exceed it's assets.

The director considers that the company is profitable and will be able to meet it's liabilities as they fall due.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 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 2 (2023 - 2 ) .

Tir Prince Properties Limited (Registered number: 10458481)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 160,000
NET BOOK VALUE
At 29 February 2024 160,000
At 28 February 2023 160,000

Fair value at 29 February 2024 is represented by:
£   
Cost 160,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 100,627 87,992
Other debtors 344 -
100,971 87,992

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 160,356 160,356
Taxation and social security 2,980 114
163,336 160,470

7. RESERVES
Revaluation
reserve
£   
Transfer 46,989

At 29 February 2024 46,989

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aled Roberts FCA (Senior Statutory Auditor)
for and on behalf of Salisbury & Company Business Solutions Limited