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Company No: 03238934 (England and Wales)

T W BETTS SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

T W BETTS SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

T W BETTS SERVICES LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2024
T W BETTS SERVICES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTORS Anne Marie Barber
Amy Leamontaine Olley
SECRETARY Anne Marie Barber
REGISTERED OFFICE Treviot House
186-192 High Road
Ilford
IG1 1LR
United Kingdom
COMPANY NUMBER 03238934 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
T W BETTS SERVICES LIMITED

BALANCE SHEET

As at 31 August 2024
T W BETTS SERVICES LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 26,146 34,860
Investment property 4 2,175,000 1,750,000
2,201,146 1,784,860
Current assets
Debtors 5 22,304 25,169
Cash at bank and in hand 145,469 103,392
167,773 128,561
Creditors: amounts falling due within one year 6 ( 61,333) ( 51,140)
Net current assets 106,440 77,421
Total assets less current liabilities 2,307,586 1,862,281
Provision for liabilities ( 310,082) ( 203,832)
Net assets 1,997,504 1,658,449
Capital and reserves
Called-up share capital 100 100
Fair value reserve 8 1,285,947 967,197
Profit and loss account 711,457 691,152
Total shareholders' funds 1,997,504 1,658,449

For the financial 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.

Directors' responsibilities:

The financial statements of T W Betts Services Limited (registered number: 03238934) were approved and authorised for issue by the Board of Directors on 07 May 2025. They were signed on its behalf by:

Anne Marie Barber
Director
T W BETTS SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
T W BETTS SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

T W Betts Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the total rent and insurance receivable during the year,

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost/Valuation
At 01 September 2023 938 39,989 40,927
At 31 August 2024 938 39,989 40,927
Accumulated depreciation
At 01 September 2023 235 5,832 6,067
Charge for the financial year 175 8,539 8,714
At 31 August 2024 410 14,371 14,781
Net book value
At 31 August 2024 528 25,618 26,146
At 31 August 2023 703 34,157 34,860

4. Investment property

Investment property
£
Valuation
As at 01 September 2023 1,750,000
Fair value movement 425,000
As at 31 August 2024 2,175,000

The investment properties were revalued by independent surveyors at fair value at the year end.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 578,971 578,971

5. Debtors

2024 2023
£ £
Trade debtors 18,500 22,000
Other debtors 3,804 3,169
22,304 25,169

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 265
Taxation and social security 16,349 476
Other creditors 44,984 50,399
61,333 51,140

7. Directors' advances, credits and guarantees

Director 1

2024 2023
£ £
Amounts Advanced 23,500 0
Amounts Repaid (7,000) (7,000)

As at the year end, the director's current account shows a debit balance of £1,315 (2023 : credit balance of £15,185)

8. Reserves

Fair value reserve

2024
£
At 1st September 2023 967,197
Property revaluation 318,750
1,285,947