REGISTERED NUMBER: 00928691 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 December 2024

for

Titan Properties Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

125,067

342,340

Investment property

5

8,080,000

3,225,000

8,205,067

3,567,340

CURRENT ASSETS

Stocks

672,012

943,341

Debtors

6

265,953

197,361

Cash at bank

686,815

228,136

1,624,780

1,368,838

CREDITORS

Amounts falling due within one year

7

365,787

324,301

NET CURRENT ASSETS

1,258,993

1,044,537

TOTAL ASSETS LESS CURRENT LIABILITIES

9,464,060

4,611,877

CREDITORS

Amounts falling due after more than one year

8

(63,415

)

-

PROVISIONS FOR LIABILITIES

(347,887

)

(291,378

)

NET ASSETS

9,052,758

4,320,499

CAPITAL AND RESERVES

Called up share capital

11

100

100

Capital redemption reserve

12

(111,776

)

(111,776

)

Retained earnings

12

9,164,434

4,432,175

9,052,758

4,320,499

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 director acknowledges her 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Ms S Meek - Director

1.	STATUTORY INFORMATION

Titan Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00928691

Registered office:

4315 Park Approach

Thorpe Park

Leeds

LS15 8GB

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax.

Turnover in respect of net rents receivable represents the value of services provided under contracts to the extent that there is a right to consideration. Where payments are received from tenants in advance of rental periods, the amounts are recorded as deferred income and included as part of creditors due within one year.

Turnover from the sale of property is recognised on completion.

Tangible fixed assets

Tangible fixed assets are stated at purchase cost, net of depreciation.

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

Plant & Machinery

- 20% on reducing balance

Office Equipment

- 20% on reducing balance

Fixtures and Fittings

- 20% on reducing balance

Motor Vehicles

- 20% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment property

Investment properties for which fair value can be measured reliably on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs). If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, hire purchase contacts, trade creditors, bank loans and other creditors.

Trade debtors, other debtors, cash and bank balances, trade creditors, and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.

Impairment of assets

Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Critical accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies and the key sources of estimation uncertainty that have had the most significant effect on the amounts recognised in the financial statements are described below:

Investment property

The company makes an estimate of the fair value of investment properties at each reporting date. The directors undertake a review of the property portfolio at each reporting date to assess whether the fair value has changed significantly since the previous reporting date. When assessing the fair values, management considers current commercial property trends and rental yields.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

836,240

315,963

1,152,203

Additions

-

109,019

109,019

Disposals

(6,230

)

(14,875

)

(21,105

)

Reclassification

(830,010

)

-

(830,010

)

At 31 December 2024

-

410,107

410,107

DEPRECIATION

At 1 January 2024

520,072

289,791

809,863

Charge for year

-

8,868

8,868

Eliminated on disposal

(249

)

(13,619

)

(13,868

)

Reclassification

(519,823

)

-

(519,823

)

At 31 December 2024

-

285,040

285,040

NET BOOK VALUE

At 31 December 2024

-

125,067

125,067

At 31 December 2023

316,168

26,172

342,340

The net book value of tangible fixed assets includes £ 105,385 in respect of assets held under hire purchase contracts.

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2024

3,225,000

Revaluations

4,544,813

Reclassification

310,187

At 31 December 2024

8,080,000

NET BOOK VALUE

At 31 December 2024

8,080,000

At 31 December 2023

3,225,000

Cost or valuation at 31 December 2024 is represented by:

£

Valuation in 2024

7,181,556

Cost

898,444

8,080,000

The valuation of investment property was reviewed as at 31 December 2024. This was based on market value.

The historic cost of investment property is £1,418,267.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as

restated

£

£

Trade debtors

108,921

154,330

Other debtors

157,032

43,031

265,953

197,361

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as

restated

£

£

Bank loans and overdrafts

10,000

24,407

Hire purchase contracts (see note 9)

14,804

-

Trade creditors

39,612

24,391

Taxation and social security

182,019

124,678

Other creditors

119,352

150,825

365,787

324,301

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as

restated

£

£

Bank loans

6,667

-

Hire purchase contracts (see note 9)

56,748

-

63,415

-

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

as

restated

£

£

Net obligations repayable:

Within one year

14,804

-

Between one and five years

56,748

-

71,552

-

Non-cancellable

operating leases

2024

2023

as

restated

£

£

Within one year

6,837

10,279

Between one and five years

-

6,837

6,837

17,116

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

as

restated

£

£

Hire purchase contracts

71,552

-

Hire purchase contracts are secured upon the assets to which they relate.

11.	CALLED UP SHARE CAPITAL

2024

2023

£

£

Allotted, issued and fully paid

100

100

12.

RESERVES

At 31 December 2024 within retained earnings is a non-distributable amount of £6,864,936 (2023: £2,345,365) relating to fair value adjustments to investment property and the recognition of the associated deferred tax liability.

13.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

as

restated

£

£

Ms S Meek

Balance outstanding at start of year

-

-

Amounts advanced

331,431

-

Amounts repaid

(234,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

97,431

-

The directors' loan was repaid in full within 9 months of the end of the financial year.

14.	RELATED PARTY DISCLOSURES

Included within other debtors in Note 7 is a loan to the director's pension fund. The balance of the loan at 31 December 2024 was £41,456 (2023 - £41,456).