REGISTERED NUMBER: 02896152 (England and Wales)

The Terraced House Conversion Company

Limited

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

B J Watson

C J Watson

REGISTERED OFFICE:

1 High Street

Sheerness

Kent

ME12 1NY

BUSINESS ADDRESS:

10 Clovelly Drive

Minster

Sheerness

Kent

ME12 2SF

REGISTERED NUMBER:

02896152 (England and Wales)

ACCOUNTANTS:

Foreman Waller

Chartered Accountants

1 High Street

Sheerness

Kent

ME12 1NY

FIXED ASSETS

Tangible assets

4

15,910

-

Investment property

5

1,955,000

1,955,000

1,970,910

1,955,000

CURRENT ASSETS

Debtors

6

11,283

14,160

Cash at bank

6,587

3,997

17,870

18,157

CREDITORS

Amounts falling due within one year

7

159,942

216,476

NET CURRENT LIABILITIES

(142,072

)

(198,319

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,828,838

1,756,681

PROVISIONS FOR LIABILITIES

248,162

247,082

NET ASSETS

1,580,676

1,509,599

CAPITAL AND RESERVES

Called up share capital

99

99

Fair value reserve

944,269

944,269

Retained earnings

636,308

565,231

SHAREHOLDERS' FUNDS

1,580,676

1,509,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

B J Watson - Director

1.	STATUTORY INFORMATION

The Terraced House Conversion Company Limited 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.

Significant judgements - going concern

When preparing the financial statements, the directors have assessed whether there are significant doubts about the company's ability to continue as a going concern, particularly as there are net current liabilities. There are no material uncertainties of which the directors are aware in making their assessment.

Other creditors include £136,065 owed to the directors who have indicated that repayment will only be sought when cash flow and profitability allow. Therefore, the directors consider that the company has sufficient cash reserves to enable it to meet its obligations as they fall due for a period of at least 12 months from the date of signing of these financial statements. As such, they are satisfied that the company has adequate resources to continue to operate for the foreseeable future and he continues to adopt the going concern basis for preparing these financial statements.

Income recognition

Turnover represents rents receivable.

Investment property

Investment property is included at fair value. Gains are recognised in the income statement and shown in a fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 by the year end.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

17,547

At 31 March 2025

17,547

DEPRECIATION

Charge for year

1,637

At 31 March 2025

1,637

NET BOOK VALUE

At 31 March 2025

15,910

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,955,000

NET BOOK VALUE

At 31 March 2025

1,955,000

At 31 March 2024

1,955,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

1,955,000

Investments properties are valued at fair value by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

9,343

12,307

Other debtors

1,940

1,853

11,283

14,160

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

19,496

19,023

Other creditors

140,446

197,453

159,942

216,476