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REGISTERED NUMBER: 03998066 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

T O PROPERTIES LIMITED

T O PROPERTIES LIMITED (REGISTERED NUMBER: 03998066)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


T O PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: T D J O'Connor
Mrs J O'Connor





REGISTERED OFFICE: 100A Hall Lane
Cronton
Widnes
Cheshire
WA8 5DQ





REGISTERED NUMBER: 03998066 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

T O PROPERTIES LIMITED (REGISTERED NUMBER: 03998066)

STATEMENT OF FINANCIAL POSITION
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,947 35,929
Investment property 5 2,054,721 1,989,788
2,081,668 2,025,717

CURRENT ASSETS
Debtors 6 75,210 106,788
Cash at bank 95,546 97,760
170,756 204,548
CREDITORS
Amounts falling due within one year 7 545,737 527,962
NET CURRENT LIABILITIES (374,981 ) (323,414 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,706,687

1,702,303

CREDITORS
Amounts falling due after more than one
year

8

(24,219

)

(114,363

)

PROVISIONS FOR LIABILITIES (11,260 ) (13,213 )
NET ASSETS 1,671,208 1,574,727

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 175,219 175,219
Retained earnings 1,495,987 1,399,506
SHAREHOLDERS' FUNDS 1,671,208 1,574,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

T O PROPERTIES LIMITED (REGISTERED NUMBER: 03998066)

STATEMENT OF FINANCIAL POSITION - continued
31 May 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:




Mrs J O'Connor - Director



T D J O'Connor - Director


T O PROPERTIES LIMITED (REGISTERED NUMBER: 03998066)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

T O 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.

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 principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents the net invoice value of rental income earned during the year.

Turnover is recognised in accordance with the time period which tenants occupies investment property. Any rents received in the advance are treated as deferred income within creditors.

Investment property
In accordance with the transitional exemption available in FRS 102 section 35 the company has elected to treat the fair value of investment property at the date of transition to FRS 102 as deemed cost.

Financial instruments
The directors have elected to apply the provisions of FRS 102 section 11 "Basic financial instruments" to all its financial instruments.

The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts, trade creditors, accruals and bank loans.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors' loan accounts, trade creditors and accruals, are measured initially and subsequently at the discounted amount of the cash or other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


T O PROPERTIES LIMITED (REGISTERED NUMBER: 03998066)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 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 statement of financial position 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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 66,114
DEPRECIATION
At 1 June 2023 30,185
Charge for year 8,982
At 31 May 2024 39,167
NET BOOK VALUE
At 31 May 2024 26,947
At 31 May 2023 35,929

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 June 2023 1,989,788
Additions 64,933
At 31 May 2024 2,054,721
NET BOOK VALUE
At 31 May 2024 2,054,721
At 31 May 2023 1,989,788

T O PROPERTIES LIMITED (REGISTERED NUMBER: 03998066)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,584 (1,199 )
Other debtors 72,626 107,987
75,210 106,788

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,955
Trade creditors 547 1,367
Taxation and social security 34,116 25,214
Other creditors 511,074 490,426
545,737 527,962

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 88,615
Other creditors 24,219 25,748
24,219 114,363

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable in more
than five years by instalments - 45,604
- 45,604

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 99,570
Other loans 28,983 33,748
28,983 133,318

T O PROPERTIES LIMITED (REGISTERED NUMBER: 03998066)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
T D J O'Connor and Mrs J O'Connor
Balance outstanding at start of year 64,204 65,874
Amounts advanced 35,874 64,204
Amounts repaid (64,204 ) (65,874 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,874 64,204

Interest has been charged on the above at 3%. The loan has been repaid within 9 months of the reporting date.