Registered number
10846315
Tote Properties Limited
Filleted Accounts
31 December 2024
Tote Properties Limited
Company Information
Director
B A Davies
Registered office
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered number
10846315
Tote Properties Limited
Registered number: 10846315
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,132,500 1,650,000
Current assets
Debtors 4 16,214 -
Cash at bank and in hand 36,130 302,478
52,344 302,478
Creditors: amounts falling due within one year 5 (5,368) (5,018)
Net current assets 46,976 297,460
Total assets less current liabilities 3,179,476 1,947,460
Creditors: amounts falling due after more than one year 6 (2,577,326) (1,516,749)
Net assets 602,150 430,711
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 468,825 320,274
Profit and loss account 133,225 110,337
Shareholder's funds 602,150 430,711
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B A Davies
Director
Approved by the board on 31 January 2025
Tote Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings nil
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Freehold buildings
£
Cost
At 1 January 2024 1,650,000
Additions 1,333,949
Surplus on revaluation 148,551
At 31 December 2024 3,132,500
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 3,132,500
At 31 December 2023 1,650,000
4 Debtors 2024 2023
£ £
Trade debtors 9,839 -
Other debtors 6,375 -
16,214 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,368 5,018
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,193 9,406
Directors loan 280,137 264,282
Intercompany loan 1,064,620 340,000
Secured mortgages 1,227,376 903,061
2,577,326 1,516,749
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 320,274 265,274
Gain on revaluation of land and buildings 148,551 55,000
At 31 December 2024 468,825 320,274
8 Controlling party
The company is controlled by the director.
9 Other information
Tote Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
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