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Registered number: 11101570
To Live Property Ltd
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors Mr C G McMurray
Dr V L Hards
Company Number 11101570
Registered Office 14 Bracey Rise
West Bridgford
Nottingham
NG2 7AX
Accountants RWB CA Limited
Northgate House
North Gate
New Basford
NG7 7BQ
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2024.
Principal Activity
The principal activity of the company is property rental.
Directors
The directors who held office during the year were as follows:
Mr C G McMurray
Dr V L Hards
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr C G McMurray
Director
21/03/2025
Page 2
Page 3
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of To Live Property Ltd for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of To Live Property Ltd for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of To Live Property Ltd , as a body, in accordance with the terms of our latest engagement letter dated 23 February 2025. Our work has been undertaken solely to prepare for your approval the accounts of To Live Property Ltd and state those matters that we have agreed to state to the directors of To Live Property Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than To Live Property Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that To Live Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of To Live Property Ltd . You consider that To Live Property Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of To Live Property Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
21/03/2025
RWB CA Limited
Northgate House
North Gate
New Basford
NG7 7BQ
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Profit and Loss Account
31 December 2024 31 December 2023
Notes £ £
TURNOVER 19,712 20,282
GROSS PROFIT 19,712 20,282
Administrative expenses (10,338 ) (10,797 )
OPERATING PROFIT 9,374 9,485
Loss on disposal of fixed assets (51 ) -
Interest payable and similar charges (6,122 ) (3,793 )
PROFIT FOR THE FINANCIAL YEAR 3,201 5,692
The notes on pages 7 to 9 form part of these financial statements.
Page 4
Page 5
Balance Sheet
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,034 1,194
Investment Properties 5 280,000 280,000
281,034 281,194
CURRENT ASSETS
Debtors 6 999 1,842
Cash at bank and in hand 30,421 28,802
31,420 30,644
Creditors: Amounts Falling Due Within One Year 7 (174,362 ) (176,947 )
NET CURRENT ASSETS (LIABILITIES) (142,942 ) (146,303 )
TOTAL ASSETS LESS CURRENT LIABILITIES 138,092 134,891
Creditors: Amounts Falling Due After More Than One Year 8 (91,254 ) (91,254 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,775 ) (9,775 )
NET ASSETS 37,063 33,862
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 37,061 33,860
SHAREHOLDERS' FUNDS 37,063 33,862
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For the year ending 31 December 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 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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr C G McMurray
Director
21/03/2025
The notes on pages 7 to 9 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
To Live Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11101570 . The registered office is 14 Bracey Rise, West Bridgford, Nottingham, NG2 7AX.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. 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
2.5. 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.
2.6. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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 (2023: 2)
2 2
Page 7
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2024 4,915
Additions 254
Disposals (288 )
As at 31 December 2024 4,881
Depreciation
As at 1 January 2024 3,721
Provided during the period 362
Disposals (236 )
As at 31 December 2024 3,847
Net Book Value
As at 31 December 2024 1,034
As at 1 January 2024 1,194
5. Investment Property
31 December 2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 280,000
6. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Other debtors 999 1,842
7. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Bank loans and overdrafts 263 -
Other creditors 174,099 176,947
174,362 176,947
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
£ £
Bank loans 91,254 91,254
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9. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 2 2
Page 9