Registered Number:09074599 |
For the year ended 30 June 2024
England and Wales
Unaudited Financial Statements
For the year ended 30 June 2024
Tekle Properties Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Tekle Properties Ltd
Statement of Financial Position
2023
2024
Property, plant and equipment |
12,112,728
11,916,190
2
12,112,728
11,916,190
27,316
Cash and cash equivalents |
409,892
409,892
27,316
Trade and other payables: amounts falling due within one year |
(7,989,738)
(7,947,054)
3
(7,962,422)
(7,537,162)
Net current liabilities
Total assets less current liabilities |
4,575,566
3,953,768
Trade and other payables: amounts falling due after more than one |
year |
(3,651,680)
(3,813,618)
4
761,948
Net assets
302,088
100
100
761,848
301,988
761,948
302,088
Shareholders' funds
For the year ended 30 June 2024 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 of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Sanchay Tekle Director |
These financial statements were approved and authorised for issue by the Board on 21 March 2025 and were signed by: |
The notes form part of these financial statements |
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For the year ended 30 June 2024
Tekle Properties Ltd
Notes to the Financial Statements
Statutory Information
Tekle Properties Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
09074599. |
45 Boundaries Road
Balham
London
SW12 8EU
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard |
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The |
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Motor vehicles
Fixtures and fittings
2. Property, plant and equipment |
Motor vehicles
11,955,922
203,083
-
11,752,839
271,058
-
271,058
-
11,752,839
271,058
203,083
12,226,980
Provision for depreciation and impairment |
39,732
39,732
-
-
Charge for year
74,520
47,414
27,106
-
114,252
87,146
27,106
-
11,752,839
243,952
115,937
12,112,728
11,752,839
-
163,351
11,916,190
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For the year ended 30 June 2024
Tekle Properties Ltd
Notes to the Financial Statements Continued
3. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
209,169
213,839
115,451
90,213
Taxation and social security |
140,879
-
2,282,277
2,557,083
5,199,278
5,128,603
7,947,054
7,989,738
4. Trade and other payables: amounts falling due after more than one year |
2023
2024
Bank loans and overdraft (secured) |
3,580,536
3,651,680
233,082
-
3,813,618
3,651,680
The bank loans and overdrafts are secured against the assets of the company. The company has the following three loans with Cynergy Bank:1.Loan of £1,040,000:Taken out on 14 November 2022.Repayable over 60 months.The interest rate on the loan is fixed at 4.9%.2.Loan of £2,325,000:Taken out on 4 March 2023.Repayable over 60 months.The interest rate on the loan is fixed at 5.55%.3.Loan of £520,000:Taken out on 9 March 2023.Repayable over 60 months.·he interest rate on the loan is fixed at 5.55%. |
5. Average number of persons employed |
During the year the average number of employees was 1 (2023 : 1)
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