REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Tiki Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Tiki Properties Limited |
Tiki Properties Limited (Registered number: 05798512) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Tiki Properties Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit 111, The Light Bulb |
1 Filament Walk |
London |
SW18 4GQ |
Tiki Properties Limited (Registered number: 05798512) |
Abridged Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Tiki Properties Limited (Registered number: 05798512) |
Abridged Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Tiki Properties Limited (Registered number: 05798512) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Tiki Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced rentals. |
Tangible fixed assets |
Plant and equipment | - |
Fixtures and fittings | - |
Computer equipment | - |
Investment property |
Investment property is shown at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Tiki Properties Limited (Registered number: 05798512) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2014 | 1,213,409 |
Valuation in 2015 | 40,000 |
Valuation in 2016 | 74,813 |
Valuation in 2018 | (200,000 | ) |
Valuation in 2019 | (295,000 | ) |
Valuation in 2023 | 59,778 |
893,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
30.4.24 | 30.4.23 |
£ | £ |
Cost | 893,000 | 792,916 |
The investment properties were valued on an open market basis basis on 30 April 2024 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
30.4.24 | 30.4.23 |
£ | £ |
Repayable otherwise than by instalments |
Mortgages | 611,803 | 609,953 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Mortgages | 611,803 | 609,953 |
The mortgages falling due after more than 1 year are secured on the freehold properties. |
Tiki Properties Limited (Registered number: 05798512) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
9. | RELATED PARTY DISCLOSURES |
The company is under the ultimate control of Mr ARC Champion and Mrs MP Champion. |
The investment properties were purchased for and on behalf of Tiki Properties Limited by the directors and shareholders by way of a bare trust relationship to the company, which is a beneficiary in accordance with S60 of the Taxes and Capital Gains Act 1992 to which tax guidance note CG34360 refers, such beneficial interest also having been registered at HM Land Registry. |