IRIS Accounts Production v24.3.2.46 14182718 Board of Directors 1.7.23 30.6.24 30.6.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh141827182023-06-30141827182024-06-30141827182023-07-012024-06-30141827182022-06-19141827182022-06-202023-06-30141827182023-06-3014182718ns15:EnglandWales2023-07-012024-06-3014182718ns14:PoundSterling2023-07-012024-06-3014182718ns10:Director12023-07-012024-06-3014182718ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3014182718ns10:SmallEntities2023-07-012024-06-3014182718ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3014182718ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3014182718ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3014182718ns10:FullAccounts2023-07-012024-06-3014182718ns5:CurrentFinancialInstruments2024-06-3014182718ns5:CurrentFinancialInstruments2023-06-3014182718ns5:Non-currentFinancialInstruments2024-06-3014182718ns5:Non-currentFinancialInstruments2023-06-3014182718ns5:ShareCapital2024-06-3014182718ns5:ShareCapital2023-06-3014182718ns5:RetainedEarningsAccumulatedLosses2024-06-3014182718ns5:RetainedEarningsAccumulatedLosses2023-06-3014182718ns10:RegisteredOffice2023-07-012024-06-3014182718ns5:ComputerEquipment2023-07-012024-06-3014182718ns5:ComputerEquipment2024-06-3014182718ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3014182718ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3014182718ns5:OtherTransactionType12023-07-012024-06-30
REGISTERED NUMBER: 14182718 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

TOUCH INVESTMENTS LIMITED

TOUCH INVESTMENTS LIMITED (REGISTERED NUMBER: 14182718)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


TOUCH INVESTMENTS LIMITED (REGISTERED NUMBER: 14182718)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,199 -
Investment property 5 368,096 -
369,295 -

CURRENT ASSETS
Debtors 6 - 500
Cash at bank and in hand 52,169 72,181
52,169 72,681
CREDITORS
Amounts falling due within one year 7 92,150 63,104
NET CURRENT (LIABILITIES)/ASSETS (39,981 ) 9,577
TOTAL ASSETS LESS CURRENT
LIABILITIES

329,314

9,577

CREDITORS
Amounts falling due after more than one year 8 287,263 -
NET ASSETS 42,051 9,577

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 42,049 9,575
42,051 9,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TOUCH INVESTMENTS LIMITED (REGISTERED NUMBER: 14182718)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:





Mr A T Philippou - Director


TOUCH INVESTMENTS LIMITED (REGISTERED NUMBER: 14182718)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Touch Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14182718

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


The accounts have been prepared for a period of 12 months whereas the comparatives are for a period of 13 months.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the
purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


TOUCH INVESTMENTS LIMITED (REGISTERED NUMBER: 14182718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
Additions 1,199
At 30 June 2024 1,199
NET BOOK VALUE
At 30 June 2024 1,199

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 368,096
At 30 June 2024 368,096
NET BOOK VALUE
At 30 June 2024 368,096

Investment property was valued on an open market basis on 30 June 2024 by the directors of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 500

TOUCH INVESTMENTS LIMITED (REGISTERED NUMBER: 14182718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,224 360
Taxation and social security 7,942 2,302
Other creditors 82,984 60,442
92,150 63,104

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 287,263 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 287,263 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loan 287,263 -

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

10. RELATED PARTY DISCLOSURES

Included in the other creditors due within one year is an amount of £71,993 (2023:£59,362) due to the director of the company. The loan remains interest free and repayable on demand.