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Registered number: 12826320
Tianxia Properties Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12826320
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 838,434 838,434
838,434 838,434
CURRENT ASSETS
Debtors 5 23,043 11,691
Cash at bank and in hand 2,997 3,054
26,040 14,745
Creditors: Amounts Falling Due Within One Year 6 (7,260 ) (10,016 )
NET CURRENT ASSETS (LIABILITIES) 18,780 4,729
TOTAL ASSETS LESS CURRENT LIABILITIES 857,214 843,163
Creditors: Amounts Falling Due After More Than One Year 7 (872,863 ) (874,003 )
NET LIABILITIES (15,649 ) (30,840 )
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account (15,659 ) (30,850 )
SHAREHOLDERS' FUNDS (15,649) (30,840)
Page 1
Page 2
For the year ending 31 August 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
Mr Jeremy Crampin
Director
14th May 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
Tianxia Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12826320 . The registered office is 30 Wood Street Green, Guildford, Surrey, GU3 3EU.
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: 1 (2023: 1)
1 1
4. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 838,434
5. Debtors
2024 2023
£ £
Due within one year
TSX Retail 4,574 1,000
Trendsnare 10,791 10,691
TSX Homes 7,239 -
Ain't No Barista 439 -
23,043 11,691
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
VAT 2,220 2,429
Other creditors (1) - 500
Accruals and deferred income 1,680 1,680
Director's loan account 3,361 5,407
7,260 10,016
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 520,000 520,000
TSX Holdings 352,863 354,003
872,863 874,003
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 4