2 false false false false false false false false false false true false false false false true true No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC308319 2023-12-01 2024-11-30 SC308319 2024-11-30 SC308319 2023-11-30 SC308319 2022-12-01 2023-11-30 SC308319 2023-11-30 SC308319 2022-11-30 SC308319 bus:Director1 2023-12-01 2024-11-30 SC308319 core:LandBuildings 2023-11-30 SC308319 core:FurnitureFittings 2023-11-30 SC308319 core:LandBuildings 2024-11-30 SC308319 core:FurnitureFittings 2024-11-30 SC308319 core:WithinOneYear 2024-11-30 SC308319 core:WithinOneYear 2023-11-30 SC308319 core:AfterOneYear 2024-11-30 SC308319 core:AfterOneYear 2023-11-30 SC308319 core:ShareCapital 2024-11-30 SC308319 core:ShareCapital 2023-11-30 SC308319 core:RevaluationReserve 2024-11-30 SC308319 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC308319 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC308319 core:LandBuildings 2023-12-01 2024-11-30 SC308319 core:FurnitureFittings 2023-12-01 2024-11-30 SC308319 core:LandBuildings 2023-11-30 SC308319 core:FurnitureFittings 2023-11-30 SC308319 bus:SmallEntities 2023-12-01 2024-11-30 SC308319 bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 SC308319 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 SC308319 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC308319 bus:FullAccounts 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: SC308319
TSA PROPERTY LIMITED
Filleted Unaudited Financial Statements
30 November 2024
TSA PROPERTY LIMITED
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
623,692
568,703
Current assets
Debtors
6
43,433
26,033
Creditors: amounts falling due within one year
7
56,961
53,121
--------
--------
Net current liabilities
13,528
27,088
---------
---------
Total assets less current liabilities
610,164
541,615
Creditors: amounts falling due after more than one year
8
26,979
26,979
---------
---------
Net assets
583,185
514,636
---------
---------
Capital and reserves
Called up share capital
380,100
380,100
Revaluation reserve
55,000
Profit and loss account
148,085
134,536
---------
---------
Shareholders funds
583,185
514,636
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TSA PROPERTY LIMITED
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 26 August 2025 , and are signed on behalf of the board by:
Mr J Aujla
Director
Company registration number: SC308319
TSA PROPERTY LIMITED
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Narplan House, 63 Main Street, Rutherglen, Glasgow, G73 2JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 December 2023
568,425
1,088
569,513
Revaluations
55,000
55,000
---------
-------
---------
At 30 November 2024
623,425
1,088
624,513
---------
-------
---------
Depreciation
At 1 December 2023
810
810
Charge for the year
11
11
---------
-------
---------
At 30 November 2024
821
821
---------
-------
---------
Carrying amount
At 30 November 2024
623,425
267
623,692
---------
-------
---------
At 30 November 2023
568,425
278
568,703
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
23,798
Other debtors
19,635
26,033
--------
--------
43,433
26,033
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,569
13,465
Trade creditors
2,097
2,090
Corporation tax
29,545
23,816
Other creditors
16,750
13,750
--------
--------
56,961
53,121
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,979
26,979
--------
--------