| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Targetgrange Investments Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Targetgrange Investments Limited |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Targetgrange Investments Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants (ICAEW) |
| Brunel House |
| 11 The Promenade |
| Clifton Down |
| Bristol |
| BS8 3NG |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non distributable reserves | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Balance Sheet - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Targetgrange Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents gross rents receivable, excluding value added tax. |
| Tangible fixed assets |
| Investment property |
| In accordance with Section 16 of FRS 102, the investment properties are revalued annually and the aggregate surplus or deficit is recognised within the Income Statement and then transferred to non-distributable reserves. No depreciation is provided in respect of investment properties. |
| The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with Section 16 of FRS 102. The directors consider that, because this property is not held for consumption , but for its investment potential, to depreciate it would not give a true and fair view and that it is necessary to adopt Section 16 of FRS 102 in order to give a true and fair view. |
| If this departure from the Act had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified , because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Fair value at 31 December 2024 is represented by: |
| £ |
| Valuation in 2014 | 50,713 |
| Valuation in 2018 | 1,590,146 |
| Valuation in 2019 | 2,779,999 |
| Cost | 5,844,957 |
| 10,265,815 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 5,844,957 | 5,701,388 |
| The investment properties were valued on an open market basis on 12 March 2020 by an independent third party valuer . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Prepayments |
| Targetgrange Investments Limited (Registered number: 05466182) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Tax |
| Other creditors |
| Accruals |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 9) |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due between one and two years: |
| Bank loans |
| 10. | RESERVES |
| Non |
| distributable |
| reserves |
| £ |
| At 1 January 2024 |
| and 31 December 2024 |
| 11. | RELATED PARTY DISCLOSURES |
| Targetgrange Limited |
| A fellow subsidiary of Targetgrange (Holdings) Limited |
| At 31st December 2024, the balance of the loan from Targetgrange Limited amounted to £nil (2023: £nil). |
| 12. | ULTIMATE CONTROLLING PARTY |
| Targetgrange (Holdings) Limited is regarded by the directors as being the company's ultimate parent company. |
| Targetgrange (Holdings) Limited acquired the entire share capital of Targetgrange Investments Limited as part of a reorganisation carried out in 2014. |