Registered number
09814529
Toms Family Properties Limited
Filleted Accounts
31 March 2025
Taxing Matters 2017 Limited
Chartered Certified Accountants
54 Park Lane
Reigate
Surrey
RH2 8JX
Toms Family Properties Limited
Registered number: 09814529
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 8,551 14,329
Investment Properties 4 1,121,793 1,060,000
1,130,344 1,074,329
Current assets
Debtors 5 206 2
Cash at bank and in hand 42,783 10,244
42,989 10,246
Creditors: amounts falling due within one year 6 (4,943) (9,901)
Net current assets 38,046 345
Total assets less current liabilities 1,168,390 1,074,674
Creditors: amounts falling due after more than one year 7 (26,221) (20,494)
Provisions for liabilities (44,088) (28,684)
Net assets 1,098,081 1,025,496
Capital and reserves
Called up share capital 4 4
Profit and loss account 1,098,077 1,025,492
Shareholders' funds 1,098,081 1,025,496
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Toms
Director
Approved by the board on 10 June 2025
Toms Family Properties Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of property. Turnover from the renting of property is recognised by reference to the period of time over which it is earned.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Investments Properties
Investment property, which is property held to earn rental and/or for capital appreciation, is initially recognised at cost, which includes puchase cost and any directly attributable expenditure. Subsequently, it is measures at fair value at the reporting end date. The surplus or deficit on reveluation is recognised in the profit and loss account. Where the fair value cannot be achieved without undue cost or effort, investment property is accounted for as a tangible fixed asset.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 24,634
At 31 March 2025 24,634
Depreciation
At 1 April 2024 10,305
Charge for the year 5,778
At 31 March 2025 16,083
Net book value
At 31 March 2025 8,551
At 31 March 2024 14,329
4 Investment Property
Other
investments
£
Cost
At 1 April 2024 1,060,000
Additions - revaluation 61,793
At 31 March 2025 1,121,793
The fair value of the investment properties has been arrived at on the basis of a valuation carried out at the year end by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. Properties are valued based on cost or market value which ever gives the best current estimate of market value .
5 Debtors 2025 2024
£ £
Other debtors 206 2
6 Creditors: amounts falling due within one year 2025 2024
£ £
Other creditors 4,943 9,901
7 Creditors: amounts falling due after one year 2025 2024
£ £
Other creditors 26,221 20,494
8 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs C Toms
13,110 385 - 13,495
Mr T Toms
13,111 385 - 13,496
26,221 770 - 26,991
The loan from the directors was made on an interest free basis with no repayment terms.
9 Other information
Toms Family Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Mulberry House
5 Howards Lane
Holybourne
Alton
Surrey GU34 4HH
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