Company registration number 02777338 (England and Wales)
TABLEY PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
TABLEY PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr A J Joseph
Mr J M Joseph
Mr M A Joseph
Secretary
Mr J Ward
Company number
02777338
Registered office
1 Tabley Mews
Off Stamford Street
ALTRINCHAM
WA14 1DA
Accountants
Lopian Gross Barnett & Co
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
Business address
1 Tabley Mews
Off Stamford Street
ALTRINCHAM
WA14 1DA
Bankers
National Westminster Bank plc
Spinningfields Square
182 Deansgate
Manchester
M3 3LY
TABLEY PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
TABLEY PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
6,000,000
6,000,000
Current assets
Debtors
4
301,016
207,629
Cash at bank and in hand
3,320
10,059
304,336
217,688
Creditors: amounts falling due within one year
5
(5,461,578)
(5,393,485)
Net current liabilities
(5,157,242)
(5,175,797)
Net assets
842,758
824,203
Capital and reserves
Called up share capital
2
2
Non-distributable profits reserve
(1,494,261)
(1,429,650)
Distributable profit and loss reserves
2,337,017
2,253,851
Total equity
842,758
824,203

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 30 January 2025 and are signed on its behalf by:
Mr J M Joseph
Director
Company registration number 02777338 (England and Wales)
TABLEY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Tabley Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Tabley Mews, Off Stamford Street, ALTRINCHAM, WA14 1DA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rent receivable for the period (net of VAT). Operating lease incentives are taken into accounts and spread across the term of the lease.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date on the basis of Open Market Value. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TABLEY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

TABLEY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 May 2023
6,000,000
Additions
64,611
Revaluations
(64,611)
At 30 April 2024
6,000,000

The company's investment property is stated at the Directors' opinion of its fair value as at the year end.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been £7,494,261 (2023: £7,429,650).
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
95,795
5,286
Other debtors
205,221
128,169
301,016
133,455
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
74,174
Total debtors
301,016
207,629
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
25,833
4,715
Amounts owed to group undertakings
5,283,515
5,217,488
Taxation and social security
3,300
13,946
Other creditors
148,930
157,336
5,461,578
5,393,485
6
Related party transactions

There were no related party transactions outside the normal course of business.

TABLEY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
7
Parent company

The parent company is Pugh Davies & Co Limited (company number 00076344, registered office 1 Tabley Mews, Off Stamford Street, Altrincham, WA14 1DA). No consolidation accounts are prepared, as the group falls below the threshold required to do so.

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