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COMPANY REGISTRATION NUMBER: 05940518
Tree House Investments Limited
Filleted Unaudited Financial Statements
30 September 2024
Tree House Investments Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Tree House Investments Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,791,268
2,108,894
Current assets
Cash at bank and in hand
17,466
12,831
Creditors: amounts falling due within one year
6
22,977
17,440
--------
--------
Net current liabilities
5,511
4,609
------------
------------
Total assets less current liabilities
1,785,757
2,104,285
Creditors: amounts falling due after more than one year
7
1,114,973
1,094,973
Provisions
Taxation including deferred tax
49,939
------------
------------
Net assets
670,784
959,373
------------
------------
Capital and reserves
Called up share capital
99
99
Profit and loss account
670,685
959,274
---------
---------
Shareholders funds
670,784
959,373
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
Tree House Investments Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 26 June 2025 , and are signed on behalf of the board by:
A Friedman
Director
Company registration number: 05940518
Tree House Investments Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 West Heath Drive, London, United Kingdom, NW11 7QG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have considered the position of the company and due to the continued support of shareholders they believe it is appropriate to continue to use the going concern basis for the preparation of the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income in the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
There is no depreciation provided on Land and buildings.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 October 2023
2,105,000
22,448
2,127,448
Additions
390
390
Revaluations
( 315,750)
( 315,750)
------------
--------
------------
At 30 September 2024
1,789,250
22,838
1,812,088
------------
--------
------------
Depreciation
At 1 October 2023
18,554
18,554
Charge for the year
2,266
2,266
------------
--------
------------
At 30 September 2024
20,820
20,820
------------
--------
------------
Carrying amount
At 30 September 2024
1,789,250
2,018
1,791,268
------------
--------
------------
At 30 September 2023
2,105,000
3,894
2,108,894
------------
--------
------------
Tangible assets held at valuation
The company's land and buildings represent investment property. In accordance with FRS 102 no depreciation is charged and the property is included on the balance sheet at the market value as established by the directors. The property is revalued on an annual basis by A Friedman , a director of the company.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
22,977
17,440
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,082,006
1,082,006
Other creditors
32,967
12,967
------------
------------
1,114,973
1,094,973
------------
------------
The bank loans are secured by way of fixed charges against the property.
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
49,939
----
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Fair value adjustment of investment property
49,939
----
--------
The deferred tax provision relates to the revaluation of the investment property to market value.