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Registration number: 14844197

TNFT PROP 32 LTD

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

TNFT PROP 32 LTD

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

iXBRL Detailed Profit and Loss Account

13

 

TNFT PROP 32 LTD

Company Information

Director

Mr Jagpal Singh

Registered office

Office 20, West Midlands House
Gipsy Lane
Willenhall
West Midlands
WV13 2HA

Accountants

Mr Bhupinder Singh
142 Portland Road
Smethwick
Birmingham
B16 9SS

 

TNFT PROP 32 LTD

Director's Report for the Year Ended 31 May 2024

The director presents his report and the financial statements for the year ended 31 May 2024.

Director of the company

The director who held office during the year was as follows:

Mr Jagpal Singh

Principal activity

The principal activity of the company is Buying and selling of own real estate

Small companies provision statement

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.

Approved and authorised by the director on 2 April 2025
 

.........................................
Mr Jagpal Singh
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
TNFT PROP 32 LTD
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TNFT PROP 32 LTD for the year ended 31 May 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of TNFT PROP 32 LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of TNFT PROP 32 LTD and state those matters that we have agreed to state to the Board of Directors of TNFT PROP 32 LTD. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TNFT PROP 32 LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that TNFT PROP 32 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 results of TNFT PROP 32 LTD. You consider that TNFT PROP 32 LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of TNFT PROP 32 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 statutory accounts.

......................................

Mr Bhupinder Singh
142 Portland Road
Smethwick
Birmingham
B16 9SS

2 April 2025

 

TNFT PROP 32 LTD

Profit and Loss Account for the Year Ended 31 May 2024

Note

2024
£

Turnover

 

-

Gross profit/(loss)

 

-

Operating profit/(loss)

 

-

Profit/(loss) before tax

-

Profit/(loss) for the financial year

 

-

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

TNFT PROP 32 LTD

Statement of Comprehensive Income for the Year Ended 31 May 2024

2024
£

Profit/(loss) for the year

-

Total comprehensive income for the year

-

 

TNFT PROP 32 LTD

(Registration number: 14844197)
Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

97,170

Current assets

 

Debtors

5

100

Total assets less current liabilities

 

97,270

Creditors: Amounts falling due after more than one year

6

(97,170)

Net assets

 

100

Capital and reserves

 

Called up share capital

7

100

Shareholders' funds

 

100

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

Approved and authorised by the director on 2 April 2025
 

.........................................
Mr Jagpal Singh
Director

 

TNFT PROP 32 LTD

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Total
£

At 1 June 2023

100

100

At 31 May 2024

100

100

 

TNFT PROP 32 LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Office 20, West Midlands House
Gipsy Lane
Willenhall
West Midlands
WV13 2HA
United Kingdom

These financial statements were authorised for issue by the director on 2 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

TNFT PROP 32 LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0.

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

97,170

97,170

At 31 May 2024

97,170

97,170

Depreciation

Carrying amount

At 31 May 2024

97,170

97,170

Included within the net book value of land and buildings above is £97,170 in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

Other debtors

100

 

100

 

TNFT PROP 32 LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Creditors

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

97,170

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Shares of £100 each

1

100

   

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

97,170

9

Transition to FRS 102

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

TNFT PROP 32 LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

TNFT PROP 32 LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial year

-

-

-

-

 

TNFT PROP 32 LTD

iXBRL Detailed Profit and Loss Account for the Year Ended 31 May 2024

Cost of sales

Opening stock/inventories

Closing stock/inventories

Gross profit/(loss)

Distribution costs

Administrative expenses

Other operating income

Other items

Profit/(loss) for the financial year