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REGISTERED NUMBER: 10476007 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 November 2024

for

TBN Properties Limited

TBN Properties Limited (Registered number: 10476007)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TBN Properties Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mrs N J Bull
A A Bull
Mrs W E Bull





REGISTERED OFFICE: The Stables
London Road
Hook
Hampshire
RG27 9EQ





REGISTERED NUMBER: 10476007 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

TBN Properties Limited (Registered number: 10476007)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,000 35,000
Investment property 5 1,021,716 750,000
1,056,716 785,000

CURRENT ASSETS
Debtors 6 - 525
Cash at bank 7,204 804
7,204 1,329
CREDITORS
Amounts falling due within one year 7 898,864 640,715
NET CURRENT LIABILITIES (891,660 ) (639,386 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,056

145,614

PROVISIONS FOR LIABILITIES 9 10,835 10,835
NET ASSETS 154,221 134,779

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 63,726 63,726
Retained earnings 90,395 70,953
SHAREHOLDERS' FUNDS 154,221 134,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

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.

TBN Properties Limited (Registered number: 10476007)

Balance Sheet - continued
30 November 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:





Mrs N J Bull - Director


TBN Properties Limited (Registered number: 10476007)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

TBN Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 0% on land

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


TBN Properties Limited (Registered number: 10476007)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 December 2023
and 30 November 2024 35,000
NET BOOK VALUE
At 30 November 2024 35,000
At 30 November 2023 35,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 750,000
Additions 271,716
At 30 November 2024 1,021,716
NET BOOK VALUE
At 30 November 2024 1,021,716
At 30 November 2023 750,000


TBN Properties Limited (Registered number: 10476007)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other debtors - 525

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Taxation and social security 5,838 3,821
Other creditors 893,026 636,894
898,864 640,715

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Directors' loan accounts 312,404 325,204

The Directors' loans are secured against the shares issued in the company.

9. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 10,835 10,835

Deferred
tax
£   
Balance at 1 December 2023 10,835
Property revaluation
Balance at 30 November 2024 10,835

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
100 ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 December 2023
and 30 November 2024 63,726

TBN Properties Limited (Registered number: 10476007)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


12. RELATED PARTY DISCLOSURES

Included in other creditors at the year end is £312,404 (2023: £325,204) which is owed to the directors A A Bull and Mrs W E Bull.