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REGISTERED NUMBER: 05099895 (England and Wales)










TRIPLE A LETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






TRIPLE A LETS LIMITED (REGISTERED NUMBER: 05099895)

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










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


TRIPLE A LETS LIMITED (REGISTERED NUMBER: 05099895)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,852 13,536
Investment property 5 5,551,416 5,516,437
5,564,268 5,529,973

CURRENT ASSETS
Debtors 6 511,344 519,823
Cash at bank 195,310 196,238
706,654 716,061
CREDITORS
Amounts falling due within one year 7 170,449 250,444
NET CURRENT ASSETS 536,205 465,617
TOTAL ASSETS LESS CURRENT LIABILITIES 6,100,473 5,995,590

CREDITORS
Amounts falling due after more than one year 8 (2,279,851 ) (2,327,605 )

PROVISIONS FOR LIABILITIES (214,037 ) (214,037 )
NET ASSETS 3,606,585 3,453,948

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 1,450,342 1,450,342
Retained earnings 2,155,243 2,002,606
SHAREHOLDERS' FUNDS 3,606,585 3,453,948

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

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

TRIPLE A LETS LIMITED (REGISTERED NUMBER: 05099895)

BALANCE SHEET - continued
30TH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th March 2025 and were signed on its behalf by:





M A Parascandolo - Director


TRIPLE A LETS LIMITED (REGISTERED NUMBER: 05099895)

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


1. STATUTORY INFORMATION

Triple A Lets Limited 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: 05099895

Registered office: Vesper Lodge
Vesper Lane
Leeds
West Yorkshire
LS5 3NR

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and Fittings - 10% on cost
Motor Vehicles - 20 % on cost
Computer equipment - 20% on cost

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.The fair value as stated in the accounts has been determined by the directors.

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


TRIPLE A LETS LIMITED (REGISTERED NUMBER: 05099895)

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

Financial instruments
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st July 2023 175,417 5,890 - 181,307
Additions 2,717 - 180 2,897
At 30th June 2024 178,134 5,890 180 184,204
DEPRECIATION
At 1st July 2023 167,280 491 - 167,771
Charge for year 2,394 1,178 9 3,581
At 30th June 2024 169,674 1,669 9 171,352
NET BOOK VALUE
At 30th June 2024 8,460 4,221 171 12,852
At 30th June 2023 8,137 5,399 - 13,536

TRIPLE A LETS LIMITED (REGISTERED NUMBER: 05099895)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2023 5,516,437
Additions 34,979
At 30th June 2024 5,551,416
NET BOOK VALUE
At 30th June 2024 5,551,416
At 30th June 2023 5,516,437

Investment property is included in the financial statements at the historical cost of £3,560,396 (2023: £3,560,396) which, in the opinion of the directors, fairly represents the open market value at the balance sheet date.

Fair value at 30th June 2024 is represented by:
£   
Valuation in 2024 5,551,416

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

2024 2023
£    £   
Cost 3,560,396 3,560,396

Investment property was valued on a fair value basis on 30th June 2021 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,794 -
Other debtors 509,550 519,823
511,344 519,823

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 86,724 168,985
Taxation and social security 50,100 34,552
Other creditors 33,625 46,907
170,449 250,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,503,958 1,488,916
Other creditors 775,893 838,689
2,279,851 2,327,605

TRIPLE A LETS LIMITED (REGISTERED NUMBER: 05099895)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by
instalments 1,282,358 290,767
1,282,358 290,767

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,590,682 1,657,901

Security on the bank loans is held on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
334 Ordinary 'A' shares £1 334 334
333 Ordinary 'B' shares £1 333 333
333 Ordinary 'C' shares £1 333 333
1,000 1,000

The shares rank pari passu in respect of profits and assets of the Company.

11. RESERVES
Revaluation
reserve
£   
At 1st July 2023
and 30th June 2024 1,450,342