REGISTERED NUMBER: 04736133 (England and Wales)

TITAN (SOUTH WEST) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N D Eckert

T McDonald

REGISTERED OFFICE:

5 Clifford Street

London

W1S 2LG

REGISTERED NUMBER:

04736133 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Tangible assets

5

20,322

25,403

Investment property

6

3,102,442

3,102,442

3,122,764

3,127,845

CURRENT ASSETS

Debtors

34,909

2,107

Cash at bank

53,223

65,733

88,132

67,840

CREDITORS

Amounts falling due within one year

476,670

650,643

NET CURRENT LIABILITIES

(388,538

)

(582,803

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,734,226

2,545,042

CREDITORS

Amounts falling due after more than one year

(764,786

)

(717,895

)

PROVISIONS FOR LIABILITIES

(151,000

)

(138,063

)

NET ASSETS

1,818,440

1,689,084

CAPITAL AND RESERVES

Called up share capital

10,010

10,010

Retained earnings

1,808,430

1,679,074

SHAREHOLDERS' FUNDS

1,818,440

1,689,084

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2025 and were signed on its behalf by:

N D Eckert - Director

1.	STATUTORY INFORMATION

Titan (South West) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of properties and rentals, excluding VAT. The property sales are recognised on completion and the rents are invoiced a month in advance.

The company recognises revenue when the following conditions are satisfied:

i. The Company has transferred to the buyer the significant risks and rewards of ownership of the goods or service;

ii. The Company retains neither the continuing managerial involvement to the degree associated with ownership nor effective control over the goods or services sold;

iii. The amount of revenue can be measured reliably;

iv. It is probable that the economic benefits associated with the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - 10-20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Repairs and maintenance costs are expensed as incurred.

Derecognition

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Investment property

In accordance with FRS102, investment properties are included in the financial statements initially at cost, and are subsequently reviewed at each reporting date to ensure they are carried at fair value in the financial statements.

The fair value of the properties were confirmed by an external expert as at 14 December 2015, with annual reviews performed by the directors at each reporting date thereafter. The directors consider the value of other similar properties on the market at the reporting date, together with a consideration of general market trends when reviewing the value of investment property. These values are considered approximate to the fair value of the investment properties.

Any movements in the fair value of investment properties at each reporting date are recognised in the profits and loss account.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method:

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

125,820

DEPRECIATION

At 1 April 2024

100,417

Charge for year

5,081

At 31 March 2025

105,498

NET BOOK VALUE

At 31 March 2025

20,322

At 31 March 2024

25,403

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,102,442

NET BOOK VALUE

At 31 March 2025

3,102,442

At 31 March 2024

3,102,442

The Investment Property was revalued on an open market basis as at 4 September 2020 by the directors.

7.	DEFERRED TAXATION

Revaluation of investment property

The investment property was revalued in 2020, therefore a deferred tax provision has been made in the accounts for the year ended 31 March 2025 of £158,400 (2024: £146,615) relating to an estimate of the tax payable once the gain is realised.

Capital Allowances

As at 31 March 2025, there was a deferred tax asset of £7,704 (2024: £8,552) relating to an excess of tax written down value over net book value of qualifying tangible fixed assets. This has been offset in full against the deferred tax provision noted above.