Silverfin false false 30/09/2024 01/08/2023 30/09/2024 Mr R Clarke 17/07/2017 Mr A Tozer 17/07/2017 27 June 2025 The principal activity of the Company during the financial year was management and letting of residential property. 10868595 2024-09-30 10868595 bus:Director1 2024-09-30 10868595 bus:Director2 2024-09-30 10868595 2023-07-31 10868595 core:CurrentFinancialInstruments 2024-09-30 10868595 core:CurrentFinancialInstruments 2023-07-31 10868595 core:Non-currentFinancialInstruments 2024-09-30 10868595 core:Non-currentFinancialInstruments 2023-07-31 10868595 core:ShareCapital 2024-09-30 10868595 core:ShareCapital 2023-07-31 10868595 core:OtherCapitalReserve 2024-09-30 10868595 core:OtherCapitalReserve 2023-07-31 10868595 core:RetainedEarningsAccumulatedLosses 2024-09-30 10868595 core:RetainedEarningsAccumulatedLosses 2023-07-31 10868595 bus:OrdinaryShareClass1 2024-09-30 10868595 2023-08-01 2024-09-30 10868595 bus:FilletedAccounts 2023-08-01 2024-09-30 10868595 bus:SmallEntities 2023-08-01 2024-09-30 10868595 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-09-30 10868595 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-09-30 10868595 bus:Director1 2023-08-01 2024-09-30 10868595 bus:Director2 2023-08-01 2024-09-30 10868595 2022-08-01 2023-07-31 10868595 core:CurrentFinancialInstruments 2023-08-01 2024-09-30 10868595 core:Non-currentFinancialInstruments 2023-08-01 2024-09-30 10868595 bus:OrdinaryShareClass1 2023-08-01 2024-09-30 10868595 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10868595 (England and Wales)

TARC PROPERTY LIMITED

Unaudited Financial Statements
For the financial period from 01 August 2023 to 30 September 2024
Pages for filing with the registrar

TARC PROPERTY LIMITED

Unaudited Financial Statements

For the financial period from 01 August 2023 to 30 September 2024

Contents

TARC PROPERTY LIMITED

BALANCE SHEET

As at 30 September 2024
TARC PROPERTY LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 31.07.2023
£ £
Fixed assets
Investment property 3 0 240,000
0 240,000
Current assets
Debtors 4 0 1,842
Cash at bank and in hand 39,588 2,992
39,588 4,834
Creditors: amounts falling due within one year 5 ( 31,021) ( 13,907)
Net current assets/(liabilities) 8,567 (9,073)
Total assets less current liabilities 8,567 230,927
Creditors: amounts falling due after more than one year 6 0 ( 180,908)
Provision for liabilities 0 ( 5,145)
Net assets 8,567 44,874
Capital and reserves
Called-up share capital 7 2 2
Other reserves 0 15,435
Profit and loss account 8,565 29,437
Total shareholders' funds 8,567 44,874

For the financial period 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 financial statements of TARC Property Limited (registered number: 10868595) were approved and authorised for issue by the Board of Directors on 27 June 2025. They were signed on its behalf by:

Mr R Clarke
Director
Mr A Tozer
Director
TARC PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 30 September 2024
TARC PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 August 2023 to 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

TARC Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Tarc Solutions Mills Bakery, Unit 11, Royal William Yard, Plymouth, PL1 3GE, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2024 the directors made the decision that the Company would cease trading. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation.

Reporting period length

The current accounting period is for 14 months from Aug'23 to Sept'24.

Turnover

Rents and service charges from lettings are recognised net of losses from voids. Income is recognised over the period they relate.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
01.08.2023 to
30.09.2024
Year ended
31.07.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 240,000
Disposals (240,000)
As at 30 September 2024 0

4. Debtors

30.09.2024 31.07.2023
£ £
Trade debtors 0 1,733
Other debtors 0 109
0 1,842

5. Creditors: amounts falling due within one year

30.09.2024 31.07.2023
£ £
Bank loans 28,784 10,048
Trade creditors 94 0
Other creditors 2,143 3,859
31,021 13,907

The bank loans are secured by virtue of a negative pledge over the property to which they relate.

6. Creditors: amounts falling due after more than one year

30.09.2024 31.07.2023
£ £
Bank loans 0 180,908

The bank loans are secured by virtue of a negative pledge over the property to which they relate.

7. Called-up share capital

30.09.2024 31.07.2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2