Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3022023-07-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04470670 2023-07-01 2024-06-30 04470670 2022-07-01 2023-06-30 04470670 2024-06-30 04470670 2023-06-30 04470670 2022-07-01 04470670 c:CompanySecretary1 2023-07-01 2024-06-30 04470670 c:Director1 2023-07-01 2024-06-30 04470670 c:Director2 2023-07-01 2024-06-30 04470670 c:RegisteredOffice 2023-07-01 2024-06-30 04470670 d:Buildings d:LongLeaseholdAssets 2024-06-30 04470670 d:Buildings d:LongLeaseholdAssets 2023-06-30 04470670 d:CurrentFinancialInstruments 2024-06-30 04470670 d:CurrentFinancialInstruments 2023-06-30 04470670 d:Non-currentFinancialInstruments 2024-06-30 04470670 d:Non-currentFinancialInstruments 2023-06-30 04470670 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04470670 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04470670 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 04470670 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 04470670 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 04470670 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 04470670 d:ShareCapital 2024-06-30 04470670 d:ShareCapital 2023-06-30 04470670 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 04470670 d:RetainedEarningsAccumulatedLosses 2024-06-30 04470670 d:RetainedEarningsAccumulatedLosses 2023-06-30 04470670 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 04470670 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 04470670 c:FRS102 2023-07-01 2024-06-30 04470670 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04470670 c:FullAccounts 2023-07-01 2024-06-30 04470670 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04470670 2 2023-07-01 2024-06-30 04470670 6 2023-07-01 2024-06-30 04470670 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 04470670






TAMITA ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
TAMITA ESTATES LIMITED
 

COMPANY INFORMATION


Directors
P. S. Sandhu 
S. K. Sandhu 




Company secretary
S. K. Sandhu



Registered number
04470670



Registered office
1st Floor Sackville House
143-149 Fenchurch Street

London

EC3M 6BL




Reporting accountants
Wilder Coe Ltd
Chartered Accountants

1st Floor, Sackville House

143-149 Fenchurch Street

London

EC3M 6BL





 
TAMITA ESTATES LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
TAMITA ESTATES LIMITED
REGISTERED NUMBER: 04470670

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£000
£000

Fixed assets
  

Tangible fixed assets
 4 
4,500.0
4,500.0

Investments
 5 
1,050.0
1,050.0

  
5,550.0
5,550.0

Current assets
  

Debtors
 6 
2.1
14.1

Cash at bank
  
47.9
107.3

  
50.0
121.4

Creditors: amounts falling due within one year
 7 
(3,343.9)
(1,212.3)

Net current liabilities
  
 
 
(3,293.9)
 
 
(1,090.9)

Total assets less current liabilities
  
2,256.1
4,459.1

Creditors: amounts falling due after more than one year
 8 
-
(2,245.0)

Provisions for liabilities
  

Deferred tax
 10 
(69.1)
(69.1)

Net assets
  
2,187.0
2,145.0


Capital and reserves
  

Allotted, called up and fully paid share capital
  
25.0
25.0

Profit and loss account
 11 
2,162.0
2,120.0

Equity shareholders' funds
  
2,187.0
2,145.0


Page 1

 
TAMITA ESTATES LIMITED
REGISTERED NUMBER: 04470670

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
27 November 2024.


P. S. Sandhu
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
TAMITA ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Tamita Estates Limited (company number: 04470670), having its principal place of business at 1st Floor, 4 Cork Street, London, W1S 3LG, is a private limited company incorporated in England and Wales. Its registered office is at 1st Floor, Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Statement of Cash Flows

The Company has taken advantage of the exemption in Section 1A.7 of Financial Reporting Standard 102 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

Turnover

Turnover comprises rental income from freehold investment property exclusive of Value Added Tax, and profits earned from fixed asset investments recognised on completion of each development project, to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be measured reliably.

 
2.4

Investment property

Investment property is carried at fair value determined annually by Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

Page 3

 
TAMITA ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

 
2.10

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.11

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

Page 4

 
TAMITA ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Balance Sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
TAMITA ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property





Freehold property

£000



Valuation


 At 1 July 2023 and at 30 June 2024

4,500.0






Net book value



At 30 June 2023 and at 30 June 2024
4,500.0




5.


Fixed asset investments





Member loans

£000



Cost


At 1 July 2023 and at 30 June 2024

1,050.0






Net book value



At 30 June 2023 and at 30 June 2024
1,050.0

Fixed asset investments comprised participation in mixed-use development projects in London and the South East of England, managed by PPR Estates LLP.



.


Member loans

Interest
2024
2023
%
£000
£000
PPR HL1 LLP (Lewisham)

16.0

400.0

400.0
 

 
PPR HG1 LLP (Guildford)

15.0

300.0

300.0
 

 
PPR HC1 LLP (Chelmsford & Watford)

10.6

350.0

350.0
 

 



1,050.0

1,050.0
 


 

Page 6

 
TAMITA ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£000
£000

Due within one year

Trade debtors
2.1
14.1



7.


Creditors: Amounts falling due within one year

2024
2023
£000
£000

Bank loans (secured - note 9)
2,245.0
110.0

Corporation tax
10.0
18.5

Other taxation and social security
16.3
17.7

Other creditors
1,050.3
1,050.3

Accruals and deferred income
16.8
15.8

Trade creditors
5.5
-

3,343.9
1,212.3



8.


Creditors: Amounts falling due after more than one year

2024
2023
£000
£000

Bank loans (secured - see below)
-
2,245.0


Secured loans
A bank loan is in place with National Westminster Bank for an 18 month period, secured by way of a fixed charge over the properties to which it relates.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£000
£000

Amounts falling due within one year

Bank loans
2,245.0
110.0

Amounts falling due 1-2 years

Bank loans
-
2,245.0

2,245.0
2,355.0


Page 7

 
TAMITA ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Deferred taxation




2024
2023


£000

£000






At the beginning and at the end of year
(69.1)
(69.1)

The provision for deferred taxation is made up as follows:

2024
2023
£000
£000


Revaluations of investment property
(69.1)
(69.1)


11.


Reserves

Profit and loss account

Included within the profit and loss account are non-distributable funds of £207,300 (2023: £207,300) which relate to revaluations of investment property and the deferred tax liability thereon.


12.


Related party transactions

Included within other creditors are amounts due to key management personnel of the Company of £1,050,328 (2023: £1,050,328)

Page 8