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REGISTERED NUMBER: 01607109 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TARGET PERFORMANCE LIMITED

TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TARGET PERFORMANCE LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: K A Okines
A F C Okines





SECRETARY: Company Secretaries Limited





REGISTERED OFFICE: 5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 01607109 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 172,289 172,289
Investments 6 119,260 115,157
291,549 287,446

CURRENT ASSETS
Debtors 7 1,592 529
Investments 8 3,649 4,238
Cash at bank 87,961 102,103
93,202 106,870
CREDITORS
Amounts falling due within one year 9 (33,281 ) (50,690 )
NET CURRENT ASSETS 59,921 56,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,470

343,626

PROVISIONS FOR LIABILITIES 10 (46,600 ) (45,600 )
NET ASSETS 304,870 298,026

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 145,507 142,404
Retained earnings 11 159,263 155,522
SHAREHOLDERS' FUNDS 304,870 298,026

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 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.

TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





K A Okines - Director


TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Target Performance 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.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including explanations of future events that are believed to be reasonable under the circumstances.

Key accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are the fair value of investment properties and the fair value of listed equity investments.

Revenue
Revenue is the total amount receivable in the ordinary course of business for property and related income, excluding value added tax. Property and related income principally comprises grants for leasehold extensions, disposals of freehold interests and ground rents receivable.

Grants for leasehold extensions and disposals of freehold interests are recognised on contract completion.

Ground rents receivable are recognised on a straight line basis over the period of the lease.

The principal source of other income comprises dividends from listed equity investments which are recognised on the ex-dividend date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office furniture & equipment - 33% on reducing balance

Investment properties, which consist of freehold reversionary interests, are initially measured at transaction price and subsequently carried at fair value.

Fair value is determined by the director taking account of current market conditions and recent transactions undertaken by the company.


TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. ACCOUNTING POLICIES - continued
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.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

a) Basic financial assets

Listed equity investment are initially measured at transaction price and subsequently carried at fair value.

Fair value of equities which are traded on an active market are included at the quoted price on the relevant day or, if that is not a business day, on the immediately preceding business day. Equities are valued at mid-market price.

Trade and other debtors, current asset investments and bank balances are initially measured at transaction price and subsequently carried at amortised cost, being the transaction price less any amounts settled and any impairment losses.

A financial asset is derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

b) Basic financial liabilities

Trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost, being the transaction price less any amounts settled.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable.

TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Term deposits with an original maturity date of more than three months are classified as current asset investments in the balance sheet.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Office
Investment furniture
properties & equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 172,288 3,959 176,247
DEPRECIATION
At 1 April 2023
and 31 March 2024 - 3,958 3,958
NET BOOK VALUE
At 31 March 2024 172,288 1 172,289
At 31 March 2023 172,288 1 172,289

Cost or valuation at 31 March 2024 is represented by:

Office
Investment furniture
properties & equipment Totals
£    £    £   
Valuation in 2024 169,939 - 169,939
Cost 2,349 3,959 6,308
172,288 3,959 176,247

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,349 2,349

Investment properties were valued on a fair value basis basis on 31 March 2024 by the director .

TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 115,157
Revaluations 4,103
At 31 March 2024 119,260
NET BOOK VALUE
At 31 March 2024 119,260
At 31 March 2023 115,157

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 22,168
Cost 97,092
119,260

If listed investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 97,092 97,092

Listed investments were valued on a fair value basis on 31 March 2024 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 499 529
Other debtors 1,093 -
1,592 529

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Short term deposit 3,649 4,238

TARGET PERFORMANCE LIMITED (REGISTERED NUMBER: 01607109)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 260 410
Corporation tax - 17,184
Unclaimed dividend 26,000 26,000
Accruals 7,021 7,096
33,281 50,690

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax on revaluation 46,600 45,600

Deferred
tax
£   
Balance at 1 April 2023 45,600
Provided during year 1,000
Balance at 31 March 2024 46,600

The deferred tax provision is based on a tax rate 25% effective from 1 April 2023 ( 2023: 25%).

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 155,522 142,404 297,926
Profit for the year 6,844 - 6,844
Transfer (3,103 ) 3,103 -
At 31 March 2024 159,263 145,507 304,770