Tm Townsley Properties Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: SC074876

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	5		8,697,895		8,871,421

			8,697,895		8,871,421
CURRENT ASSETS
Debtors	6	456,653		363,201
Cash at bank and in hand		568,999		190,427

		1,025,652		553,628
Creditors: Amounts Falling Due Within One Year	7	(455,577 )		(405,570 )

NET CURRENT ASSETS (LIABILITIES)			570,075		148,058

TOTAL ASSETS LESS CURRENT LIABILITIES			9,267,970		9,019,479

Creditors: Amounts Falling Due After More Than One Year	8		(1,630,004 )		(1,769,570 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(52,531 )		(52,531 )

NET ASSETS			7,585,435		7,197,378

CAPITAL AND RESERVES
Called up share capital	9		2,000		2,000
Profit and Loss Account			7,583,435		7,195,378

SHAREHOLDERS' FUNDS			7,585,435		7,197,378

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Tm Townsley Properties Limited

Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Chris Townsley

Director

31/03/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Tm Townsley Properties Limited is a private company, limited by shares, incorporated in Scotland, registered number SC074876 . The registered office is 3 Bishops Hill Court, Tornagrain, Inverness, IV2 8AQ.

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. 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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. 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:

Motor Vehicles

25% Reducing Balance

2.4. 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.

2.5. 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.

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Tm Townsley Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 1)

4. Tangible Assets

	Motor Vehicles
	£
Cost
As at 1 March 2024	-
Additions	21,175
Disposals	(21,175 )

As at 28 February 2025	-

Net Book Value
As at 28 February 2025	-

As at 1 March 2024	-

5. Investment Property

	2025
	£
Fair Value
As at 1 March 2024	8,871,421
Additions	448,114
Disposals	(621,640 )

As at 28 February 2025	8,697,895

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	35,214	23,908
Amounts owed by group undertakings	291,842	-
Other debtors	32,892	221,177

	359,948	245,085
Due after more than one year
Other debtors	96,705	118,116

	456,653	363,201

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Tm Townsley Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	12,875	52,704
Bank loans and overdrafts	140,400	140,400
Amounts owed to group undertakings	46,476	20,059
Other creditors	98,856	87,600
Taxation and social security	156,970	104,807

	455,577	405,570

The bank loans are secured by way of a standard security over certain investment properties held by the company.

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	1,630,004	1,769,570

The bank loans are secured by way of a standard security over certain investment properties held by the company.

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2,000	2,000

10. Related Party Transactions

The following amounts were outstanding at the reporting end date:

Amounts due from related parties

CRAN Properties Limited, an entity with control, joint control or significant influence over the company was owed £46,476 (2024 - owed £20,059). The above loan is interest free, unsecured and has no fixed terms of repayment.

At the year end the company was owed £291,841 (2024 - £2,225) to C&K Culloden Limited, a company in which the directors have significant influence over. The loan is interest free, unsecured and has no fixed terms of repayment.

During the year the company paid professional fees of £18,020 to Leitch Accountancy Services Limited, a company in which director Kevin Leitch is also a director.

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