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REGISTERED NUMBER: 10187715 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 May 2024

for

TNRK Properties Limited

TNRK Properties Limited (Registered number: 10187715)

Contents of the Financial Statements
For The Year Ended 31 May 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


TNRK Properties Limited

Company Information
For The Year Ended 31 May 2024







Director: R J Kirk





Registered office: Crown House
Gretton Brook Road
Corby
Northamptonshire
NN17 4BA





Registered number: 10187715 (England and Wales)





Accountants: R Vann Ltd
Chartered Certified Accountants
Ironstone House
Ironstone Way
Brixworth
Northamptonshire
NN6 9UD

TNRK Properties Limited (Registered number: 10187715)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 - 822,233
Investment property 5 1,491,000 -
1,491,000 822,233

Current assets
Debtors 6 8,930 17,863
Cash at bank 42,047 20,874
50,977 38,737
Creditors
Amounts falling due within one year 7 643,176 129,714
Net current liabilities (592,199 ) (90,977 )
Total assets less current liabilities 898,801 731,256

Creditors
Amounts falling due after more than
one year

8

-

(573,523

)

Provisions for liabilities (167,192 ) -
Net assets 731,609 157,733

TNRK Properties Limited (Registered number: 10187715)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
Capital and reserves
Called up share capital 2 2
Revaluation reserve 9 501,575 -
Retained earnings 230,032 157,731
731,609 157,733

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 director acknowledges his 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.

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 director and authorised for issue on 13 February 2025 and were signed by:





R J Kirk - Director


TNRK Properties Limited (Registered number: 10187715)

Notes to the Financial Statements
For The Year Ended 31 May 2024


1. Statutory information

TNRK 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 as modified by the revaluation of certain assets.

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.

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.

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.


TNRK Properties Limited (Registered number: 10187715)

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 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 1 (2023 - 1 ) .

4. Tangible fixed assets
Land and
buildings
£   
Cost
At 1 June 2023 822,233
Reclassification/transfer (822,233 )
At 31 May 2024 -
Net book value
At 31 May 2024 -
At 31 May 2023 822,233

5. Investment property
Total
£   
Fair value
Revaluations 668,767
Reclassification/transfer 822,233
At 31 May 2024 1,491,000
Net book value
At 31 May 2024 1,491,000

TNRK Properties Limited (Registered number: 10187715)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


5. Investment property - continued

Included in fair value of investment property is freehold land of £ 1,491,000 which is not depreciated.

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 1,491,000

If investment property had not been revalued it would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 822,233 822,233

Investment property was valued on an open market basis on 13 March 2024 by Richardson Chartered Surveyors .

6. Debtors: amounts falling due within one year
31.5.24 31.5.23
£    £   
Trade debtors 8,750 8,750
Amounts owed by participating interests - 9,000
Other debtors 180 113
8,930 17,863

7. Creditors: amounts falling due within one year
31.5.24 31.5.23
£    £   
Bank loans and overdrafts - 27,932
Trade creditors (1 ) -
Amounts owed to participating interests 308,000 -
Taxation and social security 26,937 18,124
Other creditors 308,240 83,658
643,176 129,714

TNRK Properties Limited (Registered number: 10187715)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2024


8. Creditors: amounts falling due after more than one year
31.5.24 31.5.23
£    £   
Bank loans - 573,523

9. Reserves
Revaluatio
reserve
£   
Revaluation movements 668,767
Deferred tax (167,192 )

At 31 May 2024 501,575

10. Director's advances, credits and guarantees

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

31.5.24 31.5.23
£    £   
R J Kirk
Balance outstanding at start of year (71,000 ) -
Amounts advanced 114,000 19,000
Amounts repaid (351,000 ) (90,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (308,000 ) (71,000 )

11. Related party disclosures

Recycle Force Limited is the tenant of the company's freehold property.
Mr Kirk is a director and shareholder of both companies. Rent is charged on an arm's length basis.