REGISTERED NUMBER: 08098326 (England and Wales)

T&A PROPERTIES(SOUTH WALES) LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 JUNE 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Z Akbar

REGISTERED OFFICE:

3 Church Road

Whitchurch

Cardiff

Cardiff

CF14 2DX

REGISTERED NUMBER:

08098326 (England and Wales)

FIXED ASSETS

Tangible assets

4

5,323

6,262

Investment property

5

2,338,456

1,546,508

2,343,779

1,552,770

CURRENT ASSETS

Debtors

6

3,166

-

Cash at bank

2,208

2,222

5,374

2,222

CREDITORS

Amounts falling due within one year

7

60,610

316,333

NET CURRENT LIABILITIES

(55,236

)

(314,111

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,288,543

1,238,659

CREDITORS

Amounts falling due after more than one year

8

(893,768

)

(266,452

)

PROVISIONS FOR LIABILITIES

10

(303,660

)

(167,954

)

NET ASSETS

1,091,115

804,253

CAPITAL AND RESERVES

Called up share capital

11

100

100

Non distributable reserves

847,120

547,826

Retained earnings

243,895

256,327

SHAREHOLDERS' FUNDS

1,091,115

804,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 October 2024 and were signed by:

Z Akbar - Director

1.	STATUTORY INFORMATION

T&A Properties(South Wales) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the director has reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with his continued support.

At the date of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The director continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management are 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 underlying 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 a 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.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:

Fixtures and fittings - 15% reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Investment property

Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value measured through profit and loss.

The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement in the profit for the year are as follows :

Properties are valued by the director using a yield calculation to ascertain a fair value.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Rental income

Rental income is recognised at the fair value of rent received or receivable in the normal course of business. Rental income is recognised in the period which it relates.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 29 June 2023

and 28 June 2024

19,249

DEPRECIATION

At 29 June 2023

12,987

Charge for year

939

At 28 June 2024

13,926

NET BOOK VALUE

At 28 June 2024

5,323

At 28 June 2023

6,262

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 June 2023

1,546,508

Additions

356,948

Revaluations

435,000

At 28 June 2024

2,338,456

NET BOOK VALUE

At 28 June 2024

2,338,456

At 28 June 2023

1,546,508

Fair value at 28 June 2024 is represented by:

£

Valuation in 2014

871,554

Valuation in 2015

(17,257

)

Valuation in 2017

(138,517

)

Valuation in 2024

435,000

Cost

1,187,676

2,338,456

If the investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

1,187,676

830,728

Investment properties were valued on an open market basis basis on 28 June 2024 by the director and Andrew Forbes Surveyors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

3,166

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

12,117

46,597

Taxation and social security

32,568

35,491

Other creditors

15,925

234,245

60,610

316,333

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

893,768

266,452

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

905,885

313,049

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

303,660

167,954

Deferred

tax

£

Balance at 29 June 2023

167,954

Revaluation Gain

135,706

Balance at 28 June 2024

303,660

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

12.	TRANSACTIONS WITH DIRECTORS

As at 28 June 2024 the company owed the director £2,552 (2023: £221,512) which is included within the creditors amounts falling due within one year.

The balance is interest free and repayable on demand.