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REGISTERED NUMBER: 09129985 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

TAFF VALE PRACTICE PROPERTIES LTD

TAFF VALE PRACTICE PROPERTIES LTD (REGISTERED NUMBER: 09129985)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


TAFF VALE PRACTICE PROPERTIES LTD (REGISTERED NUMBER: 09129985)

BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 559,492 559,492

CURRENT ASSETS
Debtors 5 3,904 7,104
Cash at bank and in hand 13,622 477
17,526 7,581
CREDITORS
Amounts falling due within one year 6 87,455 66,302
NET CURRENT LIABILITIES (69,929 ) (58,721 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

489,563

500,771

CREDITORS
Amounts falling due after more than one year 7 218,452 261,325
NET ASSETS 271,111 239,446

CAPITAL AND RESERVES
Called up share capital 9 70 70
Retained earnings 271,041 239,376
SHAREHOLDERS' FUNDS 271,111 239,446

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

TAFF VALE PRACTICE PROPERTIES LTD (REGISTERED NUMBER: 09129985)

BALANCE SHEET - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:




Dr G Lloyd - Director



Dr J Finnegan - Director


TAFF VALE PRACTICE PROPERTIES LTD (REGISTERED NUMBER: 09129985)

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

1. STATUTORY INFORMATION

Taff Vale Practice Properties LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09129985

Registered office: 14 Gelliwastad Road
Pontypridd
RCT
CF37 2BW

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.

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Therefore the financial statements have been prepared on a going concern basis.

Turnover
Turnover represents rents receivable during the year.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

TAFF VALE PRACTICE PROPERTIES LTD (REGISTERED NUMBER: 09129985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 559,492
NET BOOK VALUE
At 30 June 2024 559,492
At 30 June 2023 559,492

Investment property has to be revalued each year at fair value. The director consider there have been no movement since the last external valuation.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 3,904 7,104

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans and overdrafts 41,429 39,985
Taxation and social security 7,428 8,001
Other creditors 38,598 18,316
87,455 66,302

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans 218,452 261,325

Amounts falling due in more than five years:

Repayable by instalments
Bank Loan 1 Due After 5 Year 35,014 80,869

8. SECURED DEBTS

The following secured debts are included within creditors:

30/6/24 30/6/23
£    £   
Bank loans 259,881 301,310

National Westminster Bank plc hold the following legal charges over the company assets:

- A debenture over the fixed and floating assets of the business.

TAFF VALE PRACTICE PROPERTIES LTD (REGISTERED NUMBER: 09129985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/24 30/6/23
value: £    £   
100 Ordinary A Shares 10p 14 14
100 Ordinary B Shares 10p 14 14
100 Ordinary C Shares 10p 14 14
100 Ordinary D Shares 10p 14 14
100 Ordinary E Shares 10p 14 14
70 70

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have personally guaranteed the bank loans.