Company registration number 04279081 (England and Wales)
T WARE DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
T WARE DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
T WARE DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,216
8,117
Investment property
5
225,000
80,000
232,216
88,117
Current assets
Stocks
139,578
75,882
Debtors
6
30,419
28,866
Cash at bank and in hand
1,592
100,683
171,589
205,431
Creditors: amounts falling due within one year
7
(177,125)
(212,458)
Net current liabilities
(5,536)
(7,027)
Total assets less current liabilities
226,680
81,090
Creditors: amounts falling due after more than one year
8
(35,080)
(41,049)
Provisions for liabilities
(28,527)
(970)
Net assets
163,073
39,071
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
162,073
38,071
Total equity
163,073
39,071
T WARE DEVELOPMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 28 August 2025
Mr T Ware
Director
Company registration number 04279081 (England and Wales)
T WARE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

T Ware Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 74 Palmerston Road, Southsea, England, PO5 3PT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents income from property investment and development.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance

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.

1.4
Investment property

Investment property is stated at market value.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

T WARE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 September 2023
10,114
2,500
12,614
Additions
538
-
0
538
At 31 August 2024
10,652
2,500
13,152
Depreciation and impairment
At 1 September 2023
3,403
1,094
4,497
Depreciation charged in the year
1,087
352
1,439
At 31 August 2024
4,490
1,446
5,936
T WARE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
(Continued)
- 5 -
Carrying amount
At 31 August 2024
6,162
1,054
7,216
At 31 August 2023
6,711
1,406
8,117
5
Investment property
2024
£
Fair value
At 1 September 2023
80,000
Revaluations
145,000
At 31 August 2024
225,000
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,584
23,239
Amounts owed by group undertakings
22,346
-
0
Other debtors
5,489
5,627
30,419
28,866
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,903
7,663
Trade creditors
9,926
20,299
Amounts owed to group undertakings
-
0
81
Corporation tax
7,038
13,810
Other creditors
153,258
170,605
177,125
212,458
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
35,080
41,049
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