Company registration number 04895912 (England and Wales)
T C I PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
T C I PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
T C I PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,939
-
0
Investment property
4
1,247,103
1,247,103
1,249,042
1,247,103
Current assets
Debtors
5
1,090
-
0
Cash at bank and in hand
242,296
183,485
243,386
183,485
Creditors: amounts falling due within one year
6
(38,491)
(41,970)
Net current assets
204,895
141,515
Total assets less current liabilities
1,453,937
1,388,618
Creditors: amounts falling due after more than one year
7
(779,091)
(776,622)
Provisions for liabilities
(75,000)
(75,000)
Net assets
599,846
536,996
Capital and reserves
Called up share capital
8
99
99
Other reserves
225,000
225,000
Profit and loss reserves
374,747
311,897
Total equity
599,846
536,996

The notes on pages 3 to 7 form part of these financial statements.

T C I PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 June 2025 and are signed on its behalf by:
2025-06-26
C Constantinides
Director
Company registration number 04895912 (England and Wales)
T C I PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

T C I Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Chequers Court, Brown Street, Salisbury, Wiltshire, SP1 2AS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have 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 £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis.true

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Rent receivable is recognised when earned.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
T C I PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

T C I PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.11

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

 

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
-
0
Additions
2,012
At 30 September 2024
2,012
Depreciation and impairment
At 1 October 2023
-
0
Depreciation charged in the year
73
At 30 September 2024
73
Carrying amount
At 30 September 2024
1,939
At 30 September 2023
-
0
4
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
1,247,103
T C I PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
4
Investment property
(Continued)
- 6 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
947,103
947,103
Accumulated depreciation
-
-
Carrying amount
947,103
947,103

The company's investment properties were revalued by the directors on 30 September 2022. The directors consider that this value is still appropriate at the year end.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,090
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,844
2,844
Taxation and social security
17,541
14,126
Other creditors
18,106
25,000
38,491
41,970

Creditors include bank loans and overdraft which are secured on a fixed and floating charge over the property of £2,844 (2023 - £2,844).

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
36,505
34,036
Other creditors
742,586
742,586
779,091
776,622

Creditors include bank loans and overdraft which are secured on a fixed and floating charge over the property of £36,505 (2023 - £34,036).

T C I PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
99
99
99
99
2024-09-302023-10-01falsefalsefalse23 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityC ConstantinidesI ConstantinidesS Constantinides048959122023-10-012024-09-30048959122024-09-30048959122023-09-3004895912core:OtherPropertyPlantEquipment2024-09-3004895912core:OtherPropertyPlantEquipment2023-09-3004895912core:ShareCapital2024-09-3004895912core:ShareCapital2023-09-3004895912core:OtherMiscellaneousReserve2024-09-3004895912core:OtherMiscellaneousReserve2023-09-3004895912core:RetainedEarningsAccumulatedLosses2024-09-3004895912core:RetainedEarningsAccumulatedLosses2023-09-3004895912core:ShareCapitalOrdinaryShareClass12024-09-3004895912core:ShareCapitalOrdinaryShareClass12023-09-3004895912bus:Director12023-10-012024-09-3004895912core:FurnitureFittings2023-10-012024-09-30048959122022-10-012023-09-3004895912core:OtherPropertyPlantEquipment2023-09-3004895912core:OtherPropertyPlantEquipment2023-10-012024-09-30048959122023-09-3004895912core:WithinOneYear2024-09-3004895912core:WithinOneYear2023-09-3004895912core:CurrentFinancialInstruments2024-09-3004895912core:CurrentFinancialInstruments2023-09-3004895912core:Non-currentFinancialInstruments2024-09-3004895912core:Non-currentFinancialInstruments2023-09-3004895912bus:OrdinaryShareClass12023-10-012024-09-3004895912bus:OrdinaryShareClass12024-09-3004895912bus:OrdinaryShareClass12023-09-3004895912bus:PrivateLimitedCompanyLtd2023-10-012024-09-3004895912bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3004895912bus:FRS1022023-10-012024-09-3004895912bus:AuditExemptWithAccountantsReport2023-10-012024-09-3004895912bus:Director22023-10-012024-09-3004895912bus:CompanySecretary12023-10-012024-09-3004895912bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP