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Company No: 07524071 (England and Wales)

TLC REAL ESTATE SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

TLC REAL ESTATE SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

TLC REAL ESTATE SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
TLC REAL ESTATE SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 175,659 199,323
Tangible assets 4 79,248 92,998
254,907 292,321
Current assets
Debtors 5 260,808 520,897
Cash at bank and in hand 1,638,427 726,431
1,899,235 1,247,328
Creditors: amounts falling due within one year 6 ( 1,009,176) ( 737,421)
Net current assets 890,059 509,907
Total assets less current liabilities 1,144,966 802,228
Creditors: amounts falling due after more than one year 7 ( 148,688) ( 217,865)
Provision for liabilities ( 10,723) ( 13,769)
Net assets 985,555 570,594
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 985,455 570,494
Total shareholders' funds 985,555 570,594

For the financial year ending 31 December 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 TLC Real Estate Services Limited (registered number: 07524071) were approved and authorised for issue by the Board of Directors on 09 July 2025. They were signed on its behalf by:

C J Coronna
Director
S Hossack
Director
TLC REAL ESTATE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
TLC REAL ESTATE SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

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

General information and basis of accounting

TLC Real Estate Services 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 8 Hogarth Place, London, SW5 0QT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover represents amounts receivable for services net of VAT and discounts.

Fees receivable on property sales are recognised on completion.

Letting and management fees are recognised as income as the respective rent is received. In the event of a break clause the fee is payable on commencement to this date and the remaining fee is payable one day thereafter.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Computer software 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Plant and machinery 3 - 5 years straight line
Vehicles 5 years straight line
Fixtures and fittings 3 - 8 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases including any lease incentives received, are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand.

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, 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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Investment income

Investment income represents its share of profits from third party property developments which is recognised when the amounts are known and payable.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 42 47

3. Intangible assets

Goodwill Computer software Total
£ £ £
Cost
At 01 January 2024 536,653 15,602 552,255
At 31 December 2024 536,653 15,602 552,255
Accumulated amortisation
At 01 January 2024 337,330 15,602 352,932
Charge for the financial year 23,664 0 23,664
At 31 December 2024 360,994 15,602 376,596
Net book value
At 31 December 2024 175,659 0 175,659
At 31 December 2023 199,323 0 199,323

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2024 68,978 111,012 1,579 73,696 255,265
Additions 11,540 5,079 0 2,838 19,457
At 31 December 2024 80,518 116,091 1,579 76,534 274,722
Accumulated depreciation
At 01 January 2024 30,714 88,154 1,527 41,872 162,267
Charge for the financial year 13,796 10,171 52 9,188 33,207
At 31 December 2024 44,510 98,325 1,579 51,060 195,474
Net book value
At 31 December 2024 36,008 17,766 0 25,474 79,248
At 31 December 2023 38,264 22,858 52 31,824 92,998

5. Debtors

2024 2023
£ £
Trade debtors 42,841 126,157
Amounts owed by directors 45,940 0
Prepayments 59,312 15,057
Other debtors 112,715 379,683
260,808 520,897

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 63,372 63,372
Trade creditors 105,047 20,832
Accruals and deferred income 394,089 396,018
Corporation tax 167,800 96,986
Other taxation and social security 258,916 132,859
Other creditors 19,952 27,354
1,009,176 737,421

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

2024 2023
£ £
Bank loans 148,688 217,865

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary A Shares shares of £ 1.00 each 50 50
50 Ordinary B Shares shares of £ 1.00 each 50 50
100 100

All shares rank pari passu in respect of voting, dividends and on a winding up except that dividends can be paid at different amounts on each class and on one class and not the others.

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
0 0
0 0

Dividends totalling £40,250 (2023 - £35,250) were paid in the year in respect of shares held by the company's directors.

10. Operating lease commitments

Lesse : At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024 2023
£ £
105,444 70,608