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REGISTERED NUMBER: 03583005 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

TRADITIONAL ENGLISH PROPERTIES LIMITED

TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Report of the Directors 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


TRADITIONAL ENGLISH PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr C Burnard
Mrs M Burnard





SECRETARY:





REGISTERED OFFICE: Fen House
Redgrave Road
South Lopham
Ipswich
Norfolk
IP22 2JN





REGISTERED NUMBER: 03583005 (England and Wales)





ACCOUNTANTS: Insight Accountancy Services Ltd
7A Alkmaar Way
Norwich Int Business Park
Norwich
Norfolk
NR6 6BF

TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of property developers, property rental and public house.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

Mr C Burnard
Mrs M Burnard

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr C Burnard - Director


25 April 2025

TRADITIONAL ENGLISH PROPERTIES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
TRADITIONAL ENGLISH PROPERTIES LIMITED


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2024 set out on pages four to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Insight Accountancy Services Ltd
7A Alkmaar Way
Norwich Int Business Park
Norwich
Norfolk
NR6 6BF


25 April 2025

TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

31.7.24 31.7.23
Notes £    £   

TURNOVER 337,909 308,391

Cost of sales 257,413 235,641
GROSS PROFIT 80,496 72,750

Administrative expenses 238,873 234,371
(158,377 ) (161,621 )

Other operating income 105,684 81,850
Gain/loss on revaluation of investment
property

323,541

90,000
OPERATING PROFIT 5 270,848 10,229

Interest receivable and similar income 98 113
270,946 10,342

Interest payable and similar expenses 68,810 39,434
PROFIT/(LOSS) BEFORE TAXATION 202,136 (29,092 )

Tax on profit/(loss) 61,473 22,544
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

140,663

(51,636

)

TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 6 416,751 160,337
Investment property 7 1,645,000 1,590,000
2,061,751 1,750,337

CURRENT ASSETS
Stocks 1,308,217 812,639
Debtors 8 34,856 36,042
Cash at bank 99,887 42,720
1,442,960 891,401
CREDITORS
Amounts falling due within one year 9 958,126 769,000
NET CURRENT ASSETS 484,834 122,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,546,585

1,872,738

CREDITORS
Amounts falling due after more than one
year

10

(1,097,785

)

(626,074

)

PROVISIONS FOR LIABILITIES (200,671 ) (139,198 )
NET ASSETS 1,248,129 1,107,466

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 12 876,350 614,282
Retained earnings 371,679 493,084
SHAREHOLDERS' FUNDS 1,248,129 1,107,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

BALANCE SHEET - continued
31 JULY 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mr C Burnard - Director


TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Traditional English Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

5. OPERATING PROFIT

The operating profit is stated after charging:

31.7.24 31.7.23
£    £   
Depreciation - owned assets 12,127 6,896

6. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2023 196,459 58,947 5,438 260,844
Revaluations 268,541 - - 268,541
At 31 July 2024 465,000 58,947 5,438 529,385
DEPRECIATION
At 1 August 2023 47,430 49,930 3,147 100,507
Charge for year 9,300 2,254 573 12,127
At 31 July 2024 56,730 52,184 3,720 112,634
NET BOOK VALUE
At 31 July 2024 408,270 6,763 1,718 416,751
At 31 July 2023 149,029 9,017 2,291 160,337

TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 July 2024 is represented by:

Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
Valuation in 2023 196,459 58,947 5,438 260,844
Valuation in 2024 268,541 - - 268,541
465,000 58,947 5,438 529,385

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 1,590,000
Revaluations 55,000
At 31 July 2024 1,645,000
NET BOOK VALUE
At 31 July 2024 1,645,000
At 31 July 2023 1,590,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2017 772,698
Valuation in 2018 587,302
Valuation in 2019 (40,000 )
Valuation in 2020 25,000
Valuation in 2021 130,000
Valuation in 2022 25,000
Valuation in 2023 90,000
Valuation in 2024 55,000
1,645,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 860 -
Amounts owed by group undertakings - 36,042
Other debtors 33,996 -
34,856 36,042

TRADITIONAL ENGLISH PROPERTIES LIMITED (REGISTERED NUMBER: 03583005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 66,410 66,650
Trade creditors 103,856 69,931
Amounts owed to group undertakings 306,876 2,600
Taxation and social security 2,048 7,474
Other creditors 478,936 622,345
958,126 769,000

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 1,097,785 626,074

11. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 1,164,195 692,724

12. RESERVES
Fair
value
reserve
£   
At 1 August 2023 614,282
Reserve transfer 262,068

At 31 July 2024 876,350

13. RELATED PARTY DISCLOSURES

At the balance sheet date the director was owed £ 456,575.28 (2023 - £618,318 Interest of Nil has been charged (2023- nil )and is included in other creditors

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Burnard.