Tyne Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03722609

TYNE PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

TYNE PROPERTIES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 8

TYNE PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5	2,069	2,589
Investment properties	6	11,770,000	11,490,000
		--------------	--------------
		11,772,069	11,492,589

CURRENT ASSETS

Debtors	7	6,007	1,327
Cash at bank and in hand		252,760	337,229
		----------	----------
		258,767	338,556

CREDITORS: amounts falling due within one year	8	190,951		183,507
		----------		----------
NET CURRENT ASSETS			67,816		155,049
			--------------		--------------
TOTAL ASSETS LESS CURRENT LIABILITIES			11,839,885		11,647,638

CREDITORS: amounts falling due after more than one year	9		1,844,707		2,074,551

PROVISIONS

Taxation including deferred tax	707,657	663,536
	--------------	--------------
NET ASSETS	9,287,521	8,909,551
	--------------	--------------

CAPITAL AND RESERVES

Called up share capital	12	100	100
Non distributable reserve		3,998,513	3,865,759
Profit and loss account		5,288,908	5,043,692
		-------------	-------------
SHAREHOLDERS FUNDS		9,287,521	8,909,551
		-------------	-------------

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.

TYNE PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

For the year ending 31st March 2025 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 .

These financial statements were approved by the board of directors and authorised for issue on 19 November 2025 , and are signed on behalf of the board by:

H. Rizvi

Director

Company registration number: 03722609

TYNE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Post Office, 63 Saville Street, North Shields, Tyne and Wear, NE30 1AY.

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. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis. The directors consider that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's directors, bankers and other lending agents during this time.

Revenue recognition

Turnover is measured at the fair value of the consideration and represents amounts receivable for rent.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Computer equipment	-	15% reducing balance
Motor Vehicles	-	25% reducing balance

Investment properties

Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised through the income statement.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Investment properties are not depreciated.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. TANGIBLE ASSETS

	Computer equipment	Motor vehicles	Total
	£	£	£
Cost
At 1st April 2024 and 31st March 2025	25,925	16,877	42,802
	---------	---------	---------
Depreciation
At 1st April 2024	24,638	15,575	40,213
Charge for the year	194	326	520
	---------	---------	---------
At 31st March 2025	24,832	15,901	40,733
	---------	---------	---------
Carrying amount
At 31st March 2025	1,093	976	2,069
	---------	---------	---------
At 31st March 2024	1,287	1,302	2,589
	---------	---------	---------

6. INVESTMENT PROPERTIES

	Investment properties
	£
Valuation
At 1st April 2024	11,490,000
Additions	102,995
Revaluations	177,005
	--------------
At 31st March 2025	11,770,000
	--------------
Impairment
At 1st April 2024 and 31st March 2025	–
	--------------

Carrying amount
At 31st March 2025	11,770,000
	--------------
At 31st March 2024	11,490,000
	--------------

It is the opinion of the directors that the properties held by the company have a fair value of £11,770,000.

7. DEBTORS

	2025	2024
	£	£
Prepayments	6,007	1,327
	-------	-------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Accruals	6,691	8,008
Corporation tax	82,845	61,827
Tenants deposits	101,415	113,672
	----------	----------
	190,951	183,507
	----------	----------

9. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Directors' loan account	1,844,707	2,074,551
	-------------	-------------

10. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	707,657	663,536
	----------	----------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	517	647
Fair value adjustment of investment properties	707,140	662,889
	----------	----------
	707,657	663,536
	----------	----------

11. MOVEMENT IN FAIR VALUE OF INVESTMENT PROPERTIES

	Non distributable reserve
	£
Year ended 31st March 2025
Movement in fair value of investment properties	177,005
Deferred tax adjustment on fair value movement	(44,251)
	----------
	132,754
	----------

Year ended 31st March 2024
Movement in fair value of investment properties	( 19,708)
Deferred tax adjustment on fair value movement	(7,553)
	---------
	( 27,261)
	---------

12. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

TYNE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31st MARCH 2025

13. RELATED PARTY TRANSACTIONS

A directors' loan account processes the transactions between the directors and Tyne Properties Limited. At the year end, the balance on this loan account was £1,844,707 (2024: £2,074,551) and this is shown in creditors: amounts falling due after more than one year. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.