Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01truefalseNo description of principal activity44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04886405 2023-05-01 2024-04-30 04886405 2022-05-01 2023-04-30 04886405 2024-04-30 04886405 2023-04-30 04886405 2022-05-01 04886405 c:CompanySecretary1 2023-05-01 2024-04-30 04886405 c:Director1 2023-05-01 2024-04-30 04886405 c:Director2 2023-05-01 2024-04-30 04886405 c:Director3 2023-05-01 2024-04-30 04886405 c:RegisteredOffice 2023-05-01 2024-04-30 04886405 d:Buildings 2023-05-01 2024-04-30 04886405 d:Buildings 2024-04-30 04886405 d:Buildings 2023-04-30 04886405 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04886405 d:MotorVehicles 2023-05-01 2024-04-30 04886405 d:MotorVehicles 2024-04-30 04886405 d:MotorVehicles 2023-04-30 04886405 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04886405 d:FurnitureFittings 2023-05-01 2024-04-30 04886405 d:FurnitureFittings 2024-04-30 04886405 d:FurnitureFittings 2023-04-30 04886405 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04886405 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04886405 d:CurrentFinancialInstruments 2024-04-30 04886405 d:CurrentFinancialInstruments 2023-04-30 04886405 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04886405 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04886405 d:UKTax 2023-05-01 2024-04-30 04886405 d:UKTax 2022-05-01 2023-04-30 04886405 d:ShareCapital 2024-04-30 04886405 d:ShareCapital 2023-04-30 04886405 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 04886405 d:RetainedEarningsAccumulatedLosses 2024-04-30 04886405 d:RetainedEarningsAccumulatedLosses 2023-04-30 04886405 d:OtherDeferredTax 2024-04-30 04886405 d:OtherDeferredTax 2023-04-30 04886405 c:FRS102 2023-05-01 2024-04-30 04886405 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04886405 c:FullAccounts 2023-05-01 2024-04-30 04886405 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04886405 2 2023-05-01 2024-04-30 04886405 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 04886405






TEE JAY PROPERTY CO LIMITED
 
FINANCIAL STATEMENTS
 
FOR THE YEAR ENDED 30 APRIL 2024

 
TEE JAY PROPERTY CO LIMITED
 

COMPANY INFORMATION


Directors
T. H. Jennings 
J. H. Jennings 
J. Dormon 




Company secretary
J. H. Jennings



Registered number
04886405



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

London

EC3M 6BN





 
TEE JAY PROPERTY CO LIMITED
 

CONTENTS



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


 
TEE JAY PROPERTY CO LIMITED
REGISTERED NUMBER: 04886405

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
15,076,733
14,916,462

Current assets
  

Debtors
 6 
14,412
18,949

Cash at bank
  
253,985
150,059

  
268,397
169,008

Creditors: amounts falling due within one year
 7 
(10,383,322)
(10,442,925)

Net current liabilities
  
 
 
(10,114,925)
 
 
(10,273,917)

Total assets less current liabilities
  
4,961,808
4,642,545

Deferred tax
 8 
(946,270)
(906,201)

  
 
 
(946,270)
 
 
(906,201)

Net assets
  
4,015,538
3,736,344


Capital and reserves
  

Allotted, called up and fully paid share capital
  
1
1

Profit and loss account
 9 
4,015,537
3,736,343

Equity shareholders' funds
  
4,015,538
3,736,344


Page 1

 
TEE JAY PROPERTY CO LIMITED
REGISTERED NUMBER: 04886405

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 Director's 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 16 January 2025.



J. Dormon
Director

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

Page 2

 
TEE JAY PROPERTY CO LIMITED
 

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

1.


General information

Tee Jay Property Co Limited (registered number 04886405), having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company incorporated in England and Wales. There is no principal place of business. 

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 exemptions in Financial Reporting Standard 102, Section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

Turnover

Turnover comprises rental income from property investment. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding Value Added Tax where applicable. 

 
2.4

Interest income

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

Page 3

 
TEE JAY PROPERTY CO LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Investment properties
-
not depreciated
Motor vehicles
-
25%
reducing-balance
Fixtures & fittings
-
25%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statement of Income and Retained Earnings.

  
2.6

Investment property

Investment property is carried at fair value determined annually by either Directors' valuations or external valuers 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.

 
2.7

Debtors

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

 
2.8

Cash

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

  
2.9

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.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. 

Page 4

 
TEE JAY PROPERTY CO LIMITED
 

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

2.Accounting policies (continued)

 
2.11

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 4 (2023 - 4).


4.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
52,221
16,280

Deferred tax


Origination and reversal of timing differences
40,069
(23,914)


Taxation on profit on ordinary activities
92,290
(7,634)
Page 5

 
TEE JAY PROPERTY CO LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
371,484
202,149


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
92,871
50,537

Effects of:


Depreciation for the year in excess of capital allowancs
1
1

Deferred taxation
40,069
(23,914)

Non taxable income
(40,069)
(6,250)

Unrelieved tax loss utilised
-
(23,149)

Other differences due to change in tax rate in year
-
(4,656)

Marginal relief
(582)
(203)

Total tax charge for the year
92,290
(7,634)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 6

 
TEE JAY PROPERTY CO LIMITED
 

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

5.


Tangible fixed assets





Investment properties
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 May 2023
14,916,447
4,900
23,688
14,945,035


Revaluations
160,275
-
-
160,275



At 30 April 2024

15,076,722
4,900
23,688
15,105,310



Depreciation


At 1 May 2023
-
4,885
23,688
28,573


Charge for the year on owned assets
-
4
-
4



At 30 April 2024

-
4,889
23,688
28,577



Net book value



At 30 April 2024
15,076,722
11
-
15,076,733



At 30 April 2023
14,916,447
15
-
14,916,462

The fair value of investment properties has been determined both with reference to independent reviews and considered in detail by the directors.


6.


Debtors

2024
2023
£
£

Due within one year

Other debtors
504
1,882

Prepayments and accrued income
13,908
17,067

14,412
18,949


Page 7

 
TEE JAY PROPERTY CO LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
52,125
16,280

Other taxation and social security
11,978
11,076

Other creditors
10,292,877
10,399,307

Accruals and deferred income
22,742
16,262

Trade creditors
3,600
-

10,383,322
10,442,925



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(906,201)
(930,115)


Charged to profit or loss
(40,069)
23,914



At the end of the year
(946,270)
(906,201)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investment property
946,270
906,201


9.


Reserves

Profit and loss account

Included within profit and loss reserves are non-distributable reserves of £2,838,808 (2023: £2,718,602) and distributable reserves of £1,176,729 (2023: £1,017,741).


10.


Directors' personal guarantees

The Company's bank account is secured by a personal guarantee provided by T. H. Jennings, limited to £75,000 (2023: £75,000).


Page 8