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Registered number: 13564158
TDO Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Directors Mr Gavin Callaghan
Mr Richard Callaghan
Company Number 13564158
Registered Office Ivy Cottage Wilkin Hill
Barlow
Dronfield
Derbyshire
S18 7TE
Accountants Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Page 1
Page 2
Statement of Financial Position
Registered number: 13564158
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 457,153 457,213
457,153 457,213
CURRENT ASSETS
Cash at bank and in hand 11,655 7,937
11,655 7,937
Creditors: Amounts Falling Due Within One Year 5 (438,262 ) (450,232 )
NET CURRENT ASSETS (LIABILITIES) (426,607 ) (442,295 )
TOTAL ASSETS LESS CURRENT LIABILITIES 30,546 14,918
PROVISIONS FOR LIABILITIES
Deferred Taxation (23 ) (34 )
NET ASSETS 30,523 14,884
CAPITAL AND RESERVES
Called up share capital 6 100 100
Income Statement 30,423 14,784
SHAREHOLDERS' FUNDS 30,523 14,884
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Page 3
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Gavin Callaghan
Director
Mr Richard Callaghan
Director
20/01/2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
TDO Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13564158 . The registered office is Ivy Cottage Wilkin Hill, Barlow, Dronfield, Derbyshire, S18 7TE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Zero
Fixtures & Fittings 20% straight line
2.4. Financial Instruments
The company only enters into basic financial instruments 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.
2.5. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 457,033 300 457,333
As at 31 August 2024 457,033 300 457,333
Depreciation
As at 1 September 2023 - 120 120
Provided during the period - 60 60
As at 31 August 2024 - 180 180
Net Book Value
As at 31 August 2024 457,033 120 457,153
As at 1 September 2023 457,033 180 457,213
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 434,582 447,718
Taxation and social security 3,680 2,514
438,262 450,232
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Directors Advances, Credits and Guarantees
At the balance sheet date, the directors were owed £1,524 (2023: £1,160) by the company.
Page 5