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REGISTERED NUMBER: 02802523 (England and Wales)



















Financial Statements

for the Year Ended 31 March 2024

for

Telford Housing Company Limited

Telford Housing Company Limited (Registered number: 02802523)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Telford Housing Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs H I G Starbuck





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 02802523 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Telford Housing Company Limited (Registered number: 02802523)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 461,000 431,727
Investment property 5 2,080,002 2,415,000
2,541,002 2,846,727

CURRENT ASSETS
Debtors 6 207,124 321,751
Cash at bank 9,667 65,330
216,791 387,081
CREDITORS
Amounts falling due within one year 7 207,933 338,019
NET CURRENT ASSETS 8,858 49,062
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,549,860

2,895,789

PROVISIONS FOR LIABILITIES 8 304,251 388,000
NET ASSETS 2,245,609 2,507,789

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Other reserves 9 552,000 552,000
Fair value reserve 9 1,317,560 1,578,326
Retained earnings 9 126,049 127,463
SHAREHOLDERS' FUNDS 2,245,609 2,507,789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Telford Housing Company Limited (Registered number: 02802523)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:





Dr H P Starbuck - Director


Telford Housing Company Limited (Registered number: 02802523)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Telford Housing Company 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 represents the rental income receivable during the year. Rental income receivable is accounted for in the year in which the property is rented.

Investment property
Investment property is not depreciated but revalued annually at its fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss and is transferred to a fair value reserve.

Deferred tax is provided on gains at the rate expected to apply when the properties are sold.

Deferred tax
Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

Fixed asset investments
Listed investments are stated at fair value and any gains or losses are taken to the profit and loss account. Any unrecognised gains are transferred to the fair value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 431,727
Additions 97,419
Disposals (59,568 )
Revaluations (8,578 )
At 31 March 2024 461,000
NET BOOK VALUE
At 31 March 2024 461,000
At 31 March 2023 431,727

Telford Housing Company Limited (Registered number: 02802523)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 461,000

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 460,736 421,945

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,415,000
Impairments (334,998 )
At 31 March 2024 2,080,002
NET BOOK VALUE
At 31 March 2024 2,080,002
At 31 March 2023 2,415,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 2,080,002

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 458,494 458,494
Aggregate depreciation (237,653 ) (228,478 )

Investment properties were valued on a fair value basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,094 12,203
Other debtors 1,872 1,462
Due from Peter Starbuck Limited 192,158 308,086
207,124 321,751

Telford Housing Company Limited (Registered number: 02802523)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,745 81,475
Tax 7,041 13,195
Other creditors 4,386 4,752
Directors' loan accounts 189,761 238,597
207,933 338,019

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 304,251 388,000

Deferred
tax
£   
Balance at 1 April 2023 388,000
Utilised during year (83,749 )
Balance at 31 March 2024 304,251

9. RESERVES
Fair
Retained Other value
earnings reserves reserve Totals
£    £    £    £   

At 1 April 2023 127,463 552,000 1,578,326 2,257,789
Deficit for the year (178,908 ) (178,908 )
Dividends (83,272 ) (83,272 )
Revaluation adjustment 344,516 - (344,516 ) -
Revaluation adjustment - tax (83,750 ) - 83,750 -
At 31 March 2024 126,049 552,000 1,317,560 1,995,609