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TUNCEL INVESTMENT LIMITED

Registered Number
13796648
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

TUNCEL INVESTMENT LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Alcin Tuncel

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

13796648 (England and Wales)
TUNCEL INVESTMENT LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments591,17491,174
Investment property43,260,0003,118,329
3,351,1743,209,503
Current assets
Debtors612,104124,573
Cash at bank and on hand30,90856,947
43,012181,520
Creditors amounts falling due within one year7(177,814)(127,211)
Net current assets (liabilities)(134,802)54,309
Total assets less current liabilities3,216,3723,263,812
Creditors amounts falling due after one year8(1,678,257)(1,678,145)
Provisions for liabilities9(26,918)-
Net assets1,511,1971,585,667
Capital and reserves
Called up share capital1,441,6201,623,500
Profit and loss account69,577(37,833)
Shareholders' funds1,511,1971,585,667
The financial statements were approved and authorised for issue by the Director on 24 June 2025, and are signed on its behalf by:
Alcin Tuncel
Director
Registered Company No. 13796648
TUNCEL INVESTMENT LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements have been prepared under historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents rent receivable in the period. Income is recognised in the period to which it relates.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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. The surplus or deficit on revaluation is recognised in profit and loss account.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets
4.Investment property
The investment properties below have been shown at the fair value as at the balance sheet date which have been valued by the director.

£
Fair value at 01 January 243,118,329
Fair value adjustments141,671
At 31 December 243,260,000
5.Fixed asset investments
Other investments other than loans

Other investments1

Total

££
Cost or valuation
At 01 January 2491,17491,174
At 31 December 2491,17491,174
Net book value
At 31 December 2491,17491,174
At 31 December 2391,17491,174

Notes

1Other investments other than loans
6.Debtors: amounts due within one year

2024

2023

££
Other debtors11,691123,941
Prepayments and accrued income413632
Total12,104124,573
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-860
Bank borrowings and overdrafts72,96372,963
Other creditors102,69151,228
Accrued liabilities and deferred income2,1602,160
Total177,814127,211
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,678,2571,678,145
Total1,678,2571,678,145
Loan Amounts falling due in more than five years: £1,386,407 (2023 - £1,386,923). The bank loans are secured by first legal charge over investment properties of the company.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)26,918-
Total26,918-
10.Related party transactions
Included in other debtors falling due within one year is an amount of £8,941 (2023 - £123,941) due from RA Estates London Ltd, a company connected to the director. Included in other creditors, the director loan credit balance is £50,323 ( 2023: £190).