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REGISTERED NUMBER: 10291624 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 December 2024

for

Tangent Property Limited

Tangent Property Limited (Registered number: 10291624)






Contents of the Financial Statements
for the Year Ended 30 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tangent Property Limited

Company Information
for the Year Ended 30 December 2024







DIRECTORS: S Sutheran
Mrs L Sutheran





REGISTERED OFFICE: 6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU





REGISTERED NUMBER: 10291624 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

Tangent Property Limited (Registered number: 10291624)

Balance Sheet
30 December 2024

30.12.24 30.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 176,167 -
Investment property 6 501,138 501,138
677,305 501,138

CURRENT ASSETS
Debtors 7 65,847 -
Cash at bank and in hand 1,974 571
67,821 571
CREDITORS
Amounts falling due within one year 8 730,499 472,839
NET CURRENT LIABILITIES (662,678 ) (472,268 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,627

28,870

CREDITORS
Amounts falling due after more than one
year

9

14,479

27,794
NET ASSETS 148 1,076

Tangent Property Limited (Registered number: 10291624)

Balance Sheet - continued
30 December 2024

30.12.24 30.12.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 146 1,074
SHAREHOLDERS' FUNDS 148 1,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:





S Sutheran - Director


Tangent Property Limited (Registered number: 10291624)

Notes to the Financial Statements
for the Year Ended 30 December 2024

1. STATUTORY INFORMATION

Tangent Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

It is the intention of the directors to dispose of the investment property over the forthcoming period. Once the properties are sold off the company is likely to cease to trade.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Tangent Property Limited (Registered number: 10291624)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 232,100
Disposals (22,500 )
At 30 December 2024 209,600
DEPRECIATION
Charge for year 36,808
Eliminated on disposal (3,375 )
At 30 December 2024 33,433
NET BOOK VALUE
At 30 December 2024 176,167

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 December 2023
and 30 December 2024 501,138
NET BOOK VALUE
At 30 December 2024 501,138
At 30 December 2023 501,138

The directors reviewed the carrying value of the investment property at the year end and they are of the opinion that the carrying value at cost matches the current market value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.24 30.12.23
£    £   
Other debtors 65,847 -

Tangent Property Limited (Registered number: 10291624)

Notes to the Financial Statements - continued
for the Year Ended 30 December 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.12.24 30.12.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 195,265 195,265
Taxation and social security - 611
Other creditors 525,234 266,963
730,499 472,839

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.12.24 30.12.23
£    £   
Bank loans 14,479 27,794