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Registered number: 11214461
Tell Property Management Ltd
ABRIDGED Financial Statements
For The Year Ended 28 February 2025
RITA HOLDINGS LIMITED
Chartered Tax Advisers
310 Lakes Innovation Centre
Lakes Road
Braintree
CM7 3AN
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 11214461
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,035 2,713
Investment Properties 5 247,551 199,474
249,586 202,187
CURRENT ASSETS
Debtors 200 200
Cash at bank and in hand 10,573 3,851
10,773 4,051
Creditors: Amounts Falling Due Within One Year (333,507 ) (335,594 )
NET CURRENT ASSETS (LIABILITIES) (322,734 ) (331,543 )
TOTAL ASSETS LESS CURRENT LIABILITIES (73,148 ) (129,356 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,020 ) (2,280 )
NET LIABILITIES (84,168 ) (131,636 )
CAPITAL AND RESERVES
Called up share capital 6 400 400
Fair Value Reserve 7 46,980 9,720
Profit and Loss Account (131,548 ) (141,756 )
SHAREHOLDERS' FUNDS (84,168) (131,636)
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 28 February 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Timothy Peacock
Director
14th March 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Tell Property Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11214461 . The registered office is 4 Lindop Close, Knutsford, WA16 8AY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 letting of investment property.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Total
£
Cost or Valuation
As at 1 March 2024 4,708
As at 28 February 2025 4,708
Depreciation
As at 1 March 2024 1,995
Provided during the period 678
As at 28 February 2025 2,673
Net Book Value
As at 28 February 2025 2,035
As at 1 March 2024 2,713
5. Investment Property
2025
£
Fair Value
As at 1 March 2024 199,474
Additions 2,077
Revaluations 46,000
As at 28 February 2025 247,551
6. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 400 400
7. Reserves
Fair Value Reserve
£
As at 1 March 2024 9,720
Movements in fair value reserve 37,260
As at 28 February 2025 46,980
Page 4