| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st August 2024 |
| for |
| TOWN LANE INDUSTRIAL ESTATE LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st August 2024 |
| for |
| TOWN LANE INDUSTRIAL ESTATE LIMITED |
| TOWN LANE INDUSTRIAL ESTATE LIMITED (REGISTERED NUMBER: 12145085) |
| Contents of the Financial Statements |
| for the Year Ended 31st August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TOWN LANE INDUSTRIAL ESTATE LIMITED |
| Company Information |
| for the Year Ended 31st August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 41 St Thomas's Road |
| Chorley |
| Lancashire |
| PR7 1JE |
| TOWN LANE INDUSTRIAL ESTATE LIMITED (REGISTERED NUMBER: 12145085) |
| Balance Sheet |
| 31st August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| 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. |
| TOWN LANE INDUSTRIAL ESTATE LIMITED (REGISTERED NUMBER: 12145085) |
| Balance Sheet - continued |
| 31st August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| TOWN LANE INDUSTRIAL ESTATE LIMITED (REGISTERED NUMBER: 12145085) |
| Notes to the Financial Statements |
| for the Year Ended 31st August 2024 |
| 1. | STATUTORY INFORMATION |
| Town Lane Industrial Estate Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue recognition |
| Revenue is derived from investment property rents receivable excluding value added tax. Revenue is recognised as it falls due based upon property occupancy. |
| 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. |
| Investment properties are held to earn rentals. They are initially measured at cost, including transaction costs. Subsequently, they are measured at fair value and are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair values are included in the Statement of Income in the period in which they arise. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Other financial liabilities: |
| All the companies financial liabilities fall to be classified as basic financial liabilities under Section 11 of FRS 102 and the company therefore has no other financial instruments. |
| TOWN LANE INDUSTRIAL ESTATE LIMITED (REGISTERED NUMBER: 12145085) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st September 2023 |
| and 31st August 2024 |
| NET BOOK VALUE |
| At 31st August 2024 |
| At 31st August 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Related Party |
| Trade creditors |
| Tax |
| VAT | 45,016 | 15,101 |
| Directors' current accounts | 1,096 | 96 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Related party |
| TOWN LANE INDUSTRIAL ESTATE LIMITED (REGISTERED NUMBER: 12145085) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 31.8.24 | 31.8.23 |
| value: | £ | £ |
| Share capital 1 | 1 | 1,000 | 1,000 |
| 9. | RELATED PARTY DISCLOSURES |
| The balance of the loan owed to the related party at the balance sheet date was £423,922 (2023: £624,690); of this balance £400,000 (2023: £500,000) is due in more than one year. No interest has been charged on this loan. |