Company Registration No. 06458333 (England and Wales)
Targetfollow (Pantiles) Limited
Unaudited accounts
for the year ended 31 March 2025
Targetfollow (Pantiles) Limited
Unaudited accounts
Contents
Targetfollow (Pantiles) Limited
Company Information
for the year ended 31 March 2025
Directors
A Naghshineh
S Naghshineh
C Thoday
Company Number
06458333 (England and Wales)
Registered Office
Riverside House
11-13 Riverside Road
Norwich
Norfolk
NR1 1SQ
Targetfollow (Pantiles) Limited
Statement of financial position
as at 31 March 2025
Investment property
24,000,000
19,000,000
Debtors
1,261,110
1,199,065
Cash at bank and in hand
(12,684)
168,575
Creditors: amounts falling due within one year
(10,438,727)
(10,301,690)
Net current liabilities
(9,190,301)
(8,934,050)
Total assets less current liabilities
14,809,699
10,065,950
Creditors: amounts falling due after more than one year
(7,746,565)
(7,875,272)
Provisions for liabilities
Deferred tax
(1,962,783)
(744,669)
Net assets
5,100,351
1,446,009
Called up share capital
1
1
Revaluation reserve
1,195
1,195
Profit and loss account
5,099,155
1,444,813
Shareholders' funds
5,100,351
1,446,009
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by
C Thoday
Director
Company Registration No. 06458333
Targetfollow (Pantiles) Limited
Notes to the Accounts
for the year ended 31 March 2025
Targetfollow (Pantiles) Limited is a private company, limited by shares, registered in England and Wales, registration number 06458333. The registered office is Riverside House, 11-13 Riverside Road, Norwich, Norfolk, NR1 1SQ.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with the Companies Act 2006 and with Section 1A of FRS 102. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies.
The financial statements have been prepared on a going concern basis. However attention is drawn to the following:
The company is part of a group guarantee against a loan taken out by a company under common control. The company's guarantee is limited to £14,800,000. At the year end, the total amount of loan outstanding was £8,103,544 (2024: £8,231,618) of which £134,646 (2024: £128,074 ) is due within the year. The company has provided security against this loan in the form of its investment property.
At the end of the year the company owed a total of £9,322,662 (2024: £9,322,662 ) to other connected parties which were subordinate to the senior lender.
Additionally the company was owed £ 537,300 (2024: £400,111 ) by connected parties.
Based on the above, the directors have prepared cash flow projections and business plans which demonstrate that the company has the resources available for the foreseeable future and, in particular, has resources available for the period of 12 months from the date of approval of these financial statements.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts.
Deferred tax liabilities arising from gains on the revaluation of investment property are recognised in full.
Deferred tax assets arising from unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future profits or the future reversal of deferred tax liabilities.
FRS102 required the individual components of tax expense or tax benefit to be allocated to the profit and loss, where appropriate these are disclosed in the notes to the accounts.
Deferred tax assets and liabilities are not discounted.
Targetfollow (Pantiles) Limited
Notes to the Accounts
for the year ended 31 March 2025
Investment property is included at fair value. Gains or losses on revaluation are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover comprises rental income from the fixed asset investment property. The income is recognised on an accruals basis.
Fair value at 1 April 2024
19,000,000
Net gain from fair value adjustments
5,000,000
At 31 March 2025
24,000,000
The investment property was valued on an open market value by the Directors of the company on 31 March 2024
Amounts falling due within one year
Trade debtors
290,863
158,646
Amounts due from group undertakings etc.
537,300
400,111
Accrued income and prepayments
220,521
429,199
Other debtors
212,426
210,157
6
Creditors: amounts falling due within one year
2025
2024
Trade creditors
140
224,997
Amounts owed to group undertakings and other participating interests
9,679,641
9,679,009
Other creditors
97,602
63,436
Deferred income
218,733
215,944
7
Creditors: amounts falling due after more than one year
2025
2024
Amounts owed to group undertakings and other participating interests
7,746,565
7,875,272
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Targetfollow (Pantiles) Limited
Notes to the Accounts
for the year ended 31 March 2025
9
Transactions with related parties
Under section 33.1A of FRS 102 the Company is not obliged to disclose transactions between members of other group companies where group accounts are prepared.
During the year management and other fees of £206,409 (2024: £206,409) and recharges of £31,730 (2024: £31,730) were charged by Targetfollow Estates Limited, a company controlled by A Naghshineh. At the end of the year, there is a creditors balance of £7,937 (2024: £113,971) in the amounts owed to Targetfollow Estates Limited.
The company also has a loan account with Targetfollow Estates Limited. At the end of the year, the company was owed a total of £92,237 (2024: £5,048).
The company also has a loan account with Polkerris Investments Limited, a company controlled by A Naghshineh. At the end of the year, the company was owed a total of £544 (2024: £544).
The company is controlled by Targetfollow Group Limited and, in the opinion of the directors, this is the company's ultimate parent company. The ultimate controlling party is the director and shareholder of Targetfollow Group Limited, A Naghshineh.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd, whose registered address is 11-12 Riverside Road Norwich NR1 1SQ. Consolidated accounts are available from Companies House.
11
Average number of employees
During the year the average number of employees was 0 (2024: 0).