REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
Telford Housing Company Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves | 9 |
Fair value reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
Impairments | (334,998 | ) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
Other debtors |
Due from Peter Starbuck Limited | 192,158 | 308,086 |
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 |
Tax |
Other creditors |
Directors' loan accounts | 189,761 | 238,597 |
8. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 304,251 | 388,000 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Utilised during year | ( |
) |
Balance at 31 March 2024 |
9. | RESERVES |
Fair |
Retained | Other | value |
earnings | reserves | reserve | Totals |
£ | £ | £ | £ |
At 1 April 2023 | 2,257,789 |
Deficit for the year | ( |
) | ( |
) |
Dividends | ( |
) | ( |
) |
Revaluation adjustment | 344,516 | - | (344,516 | ) | - |
Revaluation adjustment - tax | (83,750 | ) | - | 83,750 | - |
At 31 March 2024 | 1,995,609 |