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REGISTERED NUMBER: 00621178 (England and Wales)




















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

T.R.SUTERWALLA & SONS LIMITED

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Report of the Directors 2

Income Statement 3

Statement of Financial Position 4

Statement of Changes in Equity 6

Notes to the Financial Statements 7


T.R.SUTERWALLA & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: F T Suterwalla
H T Suterwalla
S T Suterwalla
M T Suterwalla
I T Suterwalla



SECRETARY: H T Suterwalla



REGISTERED OFFICE: 29 Welbeck street
London
W1G 8DA



REGISTERED NUMBER: 00621178 (England and Wales)



ACCOUNTANTS: Ward Divecha Limited
Chartered Accountants &
Statutory Auditors
29 Welbeck Street
London
W1G 8DA



BANKERS: National Westminster Bank Plc
St James' & Piccadilly Branch
PO Box 2DG
208 Piccadilly
London
W1J 9HE



HOLDING COMPANY: The Company is a 100% subsidiary of TRS
Group (UK) Limited.

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of letting the properties.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

F T Suterwalla
H T Suterwalla
S T Suterwalla
M T Suterwalla
I T Suterwalla

POLITICAL AND CHARITABLE DONATIONS
During the year, the company has contributed £2,120 (2023: £120) to UK registered charities.

INTEREST OF DIRECTORS IN CONTRACTS
During the period ended 31st December 2024 no director had any material interest in any significant contract to which the Company was a party.

TAXATION STATUS
The company is a close company within the provision of Corporation Taxes Act 2010.
.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





H T Suterwalla - Director


9 July 2025

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 921,255 99,130

Administrative expenses 811,246 1,244,450
110,009 (1,145,320 )

Other operating income 22,000 -
OPERATING PROFIT/(LOSS) 4 132,009 (1,145,320 )

Interest receivable and
similar income 1,178,990 1,127,565
1,310,999 (17,755 )

Interest payable and similar expenses 5 356 1,073
PROFIT/(LOSS) BEFORE TAXATION 1,310,643 (18,828 )

Tax on profit/(loss) 6 323,214 (137,546 )
PROFIT FOR THE FINANCIAL
YEAR

987,429

118,718

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 1,547 555
Investment property 8 25,025,000 25,025,000
25,026,547 25,025,555

CURRENT ASSETS
Debtors 9 147,541 191,540
Cash at bank 24,051,630 22,802,225
24,199,171 22,993,765
CREDITORS
Amounts falling due within one year 10 10,497,799 10,278,830
NET CURRENT ASSETS 13,701,372 12,714,935
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,727,919

37,740,490

PROVISIONS FOR LIABILITIES 11 771,088 771,088
NET ASSETS 37,956,831 36,969,402

CAPITAL AND RESERVES
Called up share capital 12 500,000 500,000
Fair value reserve 13 13,486,551 13,486,551
Retained earnings 23,970,280 22,982,851
SHAREHOLDERS' FUNDS 37,956,831 36,969,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2025 and were signed on its behalf by:





H T Suterwalla - Director


T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2023 500,000 22,864,133 13,486,551 36,850,684

Changes in equity
Total comprehensive income - 118,718 - 118,718
Balance at 31 December 2023 500,000 22,982,851 13,486,551 36,969,402

Changes in equity
Total comprehensive income - 987,429 - 987,429
Balance at 31 December 2024 500,000 23,970,280 13,486,551 37,956,831

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

T.R.Suterwalla & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and applicable Accounting Standards in the United Kingdom.

The financial statements are presented in UK Pound Sterling.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the invoiced value of rent receivable in ordinary course of business, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant and machinery - 25% straight line basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Sections 12 'Other Financial Instrument 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 sell 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.

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets
Basic financial assets, which include debtor 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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognized 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 obligation 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 ar presented as non-current liabilities. Trade creditor are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligations and a reliable estimate can be made.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 250,000 250,000
Social security costs 41,863 38,640
291,863 288,640

The average number of employees during the year was as follows:
2024 2023

Administration 5 5

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

2024 2023
£    £   
Depreciation - owned assets - 184

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 356 1,073

6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 323,214 -
Under/ over provision
for tax for previous periods - (137,546 )

Tax on profit/(loss) 323,214 (137,546 )

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. TAXATION - continued

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit/(loss) before tax 1,310,643 (18,828 )
Profit/(loss) multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 25%)

327,661

(4,707

)

Effects of:
Expenses not deductible for tax purposes (119 ) 46
Income not taxable for tax purposes 83 -
Utilisation of tax losses (4,411 ) -
Adjustments to tax charge in respect of previous periods - (137,546 )
Deferred taxation - 34
Others - 4,627
Total tax charge/(credit) 323,214 (137,546 )

7. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2024 985
Additions 992
At 31 December 2024 1,977
DEPRECIATION
At 1 January 2024
and 31 December 2024 430
NET BOOK VALUE
At 31 December 2024 1,547
At 31 December 2023 555

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 25,025,000
NET BOOK VALUE
At 31 December 2024 25,025,000
At 31 December 2023 25,025,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2020 14,298,609
Valuation in 2023 (900,000 )
Cost 11,626,391
25,025,000

Fair value of investment properties were determined by external, independent valuer 'Matthews and Goodman LLP' on 15 May 2023.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,035 25,024
Amounts owed by associates 63,951 -
Other debtors 15,224 15,631
VAT - 28,384
Prepayments and accrued income 35,331 122,501
147,541 191,540

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,359 104,531
Amounts owed to group undertakings 10,000,000 10,000,000
Corporation tax 192,214 -
Social security and other taxes 12,883 12,373
VAT 70,285 -
Other creditors 22,400 22,400
Deposit rent 139,086 -
Accruals and deferred income 24,572 139,526
10,497,799 10,278,830

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Revaluation reserve 771,088 771,088

Deferred
tax
£   
Balance at 1 January 2024 771,088
Balance at 31 December 2024 771,088

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500,000 Ordinary shares £1 500,000 500,000

13. RESERVES
Fair
value
reserve
£   
At 1 January 2024
and 31 December 2024 13,486,551

T.R.SUTERWALLA & SONS LIMITED (REGISTERED NUMBER: 00621178)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


14. PARENT COMPANY

TRS Group (UK) Ltd registered in England and Wales is the parent company due to 100% shareholding.