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Registered number: 13512613









THIRDIPROPERTY PTY (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
THIRDIPROPERTY PTY (UK) LIMITED
REGISTERED NUMBER: 13512613

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,238
23,090

  
28,238
23,090

Current assets
  

Debtors: amounts falling due within one year
 5 
84,343
175,696

Cash at bank and in hand
 6 
89,658
25,540

  
174,001
201,236

Creditors: amounts falling due within one year
 7 
(5,250,437)
(2,720,873)

Net current liabilities
  
 
 
(5,076,436)
 
 
(2,519,637)

Total assets less current liabilities
  
(5,048,198)
(2,496,547)

  

Net liabilities
  
(5,048,198)
(2,496,547)


Capital and reserves
  

Called up share capital 
  
240
240

Profit and loss account
  
(5,048,438)
(2,496,787)

  
(5,048,198)
(2,496,547)


Page 1

 
THIRDIPROPERTY PTY (UK) LIMITED
REGISTERED NUMBER: 13512613
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Gareth Hardy
Director

Date: 29 April 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THIRDIPROPERTY PTY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Thirdiproperty PTY (UK) Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales (registered number: 13512613). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The primary activity of the Company continued to be that of management consultancy and other financial management activities.
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The Company is dependent on the directors and shareholders for financial support, which they are confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 31 July 2024, the Company had net liabilities of £222,789. The directors and shareholders have indicated their present intention to provide adequate finance to enable the Company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

Page 3

 
THIRDIPROPERTY PTY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
THIRDIPROPERTY PTY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over the life of the lease
Office equipment
-
4 years straight line
Computer equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
THIRDIPROPERTY PTY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 5).

Page 6

 
THIRDIPROPERTY PTY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Short-term leasehold property
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2023
18,119
4,190
8,318
30,627


Additions
-
825
13,824
14,649



At 31 July 2024

18,119
5,015
22,142
45,276



Depreciation


At 1 August 2023
3,624
1,331
2,582
7,537


Charge for the year on owned assets
-
1,151
6,538
7,689


Charge for the year on financed assets
1,812
-
-
1,812



At 31 July 2024

5,436
2,482
9,120
17,038



Net book value



At 31 July 2024
12,683
2,533
13,022
28,238

Page 7

 
THIRDIPROPERTY PTY (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
31,311
-

Other debtors
10,753
95,575

Called up share capital not paid
240
240

Prepayments and accrued income
42,039
79,881

84,343
175,696



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
89,658
25,540

89,658
25,540



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
200,000
-

Trade creditors
629,946
237,506

Corporation tax
15,522
13,201

Other taxation and social security
37,008
6,761

Other creditors
4,284,352
2,415,747

Accruals and deferred income
83,609
47,658

5,250,437
2,720,873


 
Page 8