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Registration number: 02589463

Tiarks Property Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Tiarks Property Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Tiarks Property Developments Limited

Company Information

Directors

Mr C P F Tiarks

Mrs J S T Tiarks Allen

Mr PG Tiarks

Mrs K Fielding

Mrs S P Tiarks

Company secretary

Mr C P F Tiarks

Registered office

11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Tiarks Property Developments Limited

(Registration number: 02589463)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

47,625

41,623

Current assets

 

Stocks

5

573,738

538,941

Debtors

6

2,611,912

2,584,026

Cash at bank and in hand

 

245,500

252,814

 

3,431,150

3,375,781

Creditors: Amounts falling due within one year

7

(346,573)

(382,804)

Net current assets

 

3,084,577

2,992,977

Total assets less current liabilities

 

3,132,202

3,034,600

Creditors: Amounts falling due after more than one year

7

(58,125)

(104,042)

Net assets

 

3,074,077

2,930,558

Capital and reserves

 

Called up share capital

1,210

1,210

Share premium reserve

1,798,890

1,798,890

Retained earnings

1,273,977

1,130,458

Shareholders' funds

 

3,074,077

2,930,558

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Tiarks Property Developments Limited

(Registration number: 02589463)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 10 July 2025 and signed on its behalf by:
 

.........................................
Mr C P F Tiarks
Company secretary and director

   
 

Tiarks Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
England

The principal place of business is:
4 Welland Court
Brockeridge Park
Twyning
Tewkesbury
Gloucestershire
GL20 6FD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Tiarks Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% on reducing balance

Computer equipment

33.3% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Work in progress

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on projects, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

 

Tiarks Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

 

Tiarks Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

31,294

63,448

94,742

Additions

-

8,290

8,290

At 31 March 2025

31,294

71,738

103,032

Depreciation

At 1 April 2024

-

53,119

53,119

Charge for the year

-

2,288

2,288

At 31 March 2025

-

55,407

55,407

Carrying amount

At 31 March 2025

31,294

16,331

47,625

At 31 March 2024

31,294

10,329

41,623

Included within the net book value of land and buildings above is £31,294 (2024 - £31,294) in respect of freehold land and buildings.
 

5

Stocks

2025
£

2024
£

Work in progress

573,738

538,941

6

Debtors

Current

2025
£

2024
£

Trade debtors

42,349

15,465

Prepayments

369

369

Other debtors

2,569,194

2,568,192

 

2,611,912

2,584,026

 

Tiarks Property Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

43,500

41,083

Trade creditors

 

7,115

3,977

Taxation and social security

 

51,230

51,028

Accruals and deferred income

 

58,639

57,521

Other creditors

 

186,089

229,195

 

346,573

382,804

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

58,125

104,042

Current loans and borrowings

2025
£

2024
£

Bank borrowings

43,500

41,083