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Registered number: 12103911
Tony Morgan Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Hammond Ford & Co Limited
Unit 6 Church Road
Barrow
Bury St. Edmunds
IP29 5AX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12103911
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 494,857 414,000
494,857 414,000
CURRENT ASSETS
Debtors 5 - 500
Cash at bank and in hand 2,424 884
2,424 1,384
Creditors: Amounts Falling Due Within One Year 6 (143,456 ) (112,336 )
NET CURRENT ASSETS (LIABILITIES) (141,032 ) (110,952 )
TOTAL ASSETS LESS CURRENT LIABILITIES 353,825 303,048
Creditors: Amounts Falling Due After More Than One Year 7 (378,668 ) (338,127 )
NET LIABILITIES (24,843 ) (35,079 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 9 41,970 29,970
Profit and Loss Account (66,814 ) (65,050 )
SHAREHOLDERS' FUNDS (24,843) (35,079)
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Anthony Morgan
Director
11th April 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tony Morgan Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12103911 . The registered office is Unit 6, Church Farm Church Road, Barrow, Bury St Edmunds, Suffolk, IP29 5AX.
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 August 2023 414,000
Additions 68,857
Revaluations 12,000
As at 31 July 2024 494,857
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 500
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 225 -
Accruals and deferred income 825 480
Director's loan account 142,406 111,856
143,456 112,336
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 378,668 338,127
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Reserves
Fair Value Reserve
£
As at 1 August 2023 29,970
Movements in fair value reserve 12,000
As at 31 July 2024 41,970
Page 4