| TEJANI PROPERTIES (UK) LIMITED |
| Registered number: |
07282855 |
| Balance Sheet |
| as at 30 September 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,500,000 |
|
|
1,500,000 |
|
| Current assets |
| Debtors |
4 |
|
3,852 |
|
|
8,202 |
| Cash at bank and in hand |
|
|
71,601 |
|
|
42,375 |
|
|
|
75,453 |
|
|
50,577 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,377,323) |
|
|
(118,419) |
|
| Net current liabilities |
|
|
|
(1,301,870) |
|
|
(67,842) |
|
| Total assets less current liabilities |
|
|
|
198,130 |
|
|
1,432,158 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
- |
|
|
(1,290,221) |
|
|
|
| Net assets |
|
|
|
198,130 |
|
|
141,937 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
198,129 |
|
|
141,936 |
|
| Shareholders' funds |
|
|
|
198,130 |
|
|
141,937 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Karim Sharif Tejani |
| Director |
| Approved by the board on 2 June 2025 |
|
| TEJANI PROPERTIES (UK) LIMITED |
| Notes to the Accounts |
| for the year ended 30 September 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The disclosure requirements of section 1A of FRS 102 has been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is revenue earned from the letting of commercial and residential properties and is recognised by reference to occupation in line with contract. |
|
|
Investment properties |
|
Investment properties, which are held to earn rentals and/or capital appreciation, are initially recognised at cost which includes purchase costs and directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
6 |
|
6 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Investment property |
| £ |
|
Cost |
|
At 1 October 2023 |
1,500,000 |
|
At 30 September 2024 |
1,500,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 September 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2024 |
1,500,000 |
|
At 30 September 2023 |
1,500,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2024 |
|
2023 |
| £ |
£ |
|
Historical cost |
708,666 |
|
708,666 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
708,666 |
|
708,666 |
|
Investment property is valued at fair value based on market assessments carried out in the year to 30 September 2024 by the directors based on recent professional valuations that took place prior to 30 September 2024. |
|
|
| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
2,446 |
|
6,250 |
|
Accrued income |
|
|
|
|
1,398 |
|
- |
|
Prepayments |
|
|
|
|
8 |
|
- |
|
Taxes recoverable |
|
|
|
|
- |
|
173 |
|
Other debtors |
- |
|
1,779 |
|
|
|
|
|
|
3,852 |
|
8,202 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Other borrowings |
1,160,921 |
|
- |
|
Trade creditors |
13,425 |
|
19,076 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
134,854 |
|
59,278 |
|
Taxation and social security costs |
21,892 |
|
- |
|
Accruals and deferred income |
21,327 |
|
18,460 |
|
Deposits held |
14,370 |
|
6,570 |
|
Other creditors |
10,534 |
|
15,035 |
|
|
|
|
|
|
1,377,323 |
|
118,419 |
|
|
|
|
|
|
|
|
|
|
Other borrowings are loan notes owed to the shareholders of the company's parent company, Tejani (Property Investment Holdings) Limited. |
|
| 6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Accruals and deferred income |
|
|
|
|
- |
|
461,311 |
|
Other creditors |
- |
|
828,910 |
|
|
|
|
|
|
- |
|
1,290,221 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Operating leases |
|
|
Lessor The operating leases represent leases to third parties on the rental of commercial and residential leases. These leases are negotiated over terms of 1 – 12 years. At the yearend date, the company had contracted with tenants £312,063 under non-cancellable operating leases. |
|
|
| 8 |
Related party transactions |
|
|
The company is a wholly owned subsidiary of Tejani (Property Investment Holdings) Limited, a company incorporated in England under company number 02188696. The parent company is dormant and has availed itself of the exemption under Section 399 of the Companies Act 2006, which permits it not to prepare consolidated financial statements on the basis that the group qualifies as a small group. For the financial year ended 30 September 2024, the company incurred interest expenses of £18,000 in respect of loan notes held by shareholders of its parent company. The outstanding balance on these loan notes as at the year-end was £1,160,921 (2023: £1,290,221). |
|
|
| 9 |
Other information |
|
|
TEJANI PROPERTIES (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
c/o SNK Investments LLP |
|
Unit 3 Nursery Court |
|
Kibworth Business Park |
|
Kibworth, Leicestershire |
|
LE8 0EX |