| Trademark Property And Investments Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The company is an intermediate holding company and consolidated group accounts are prepared for it and its subsidiary by the ultimate holding company, The Trademark Group Ltd. The company has therefore taken advantage of the exemption provided by Section 400 of the Companies Act 2006 not to prepare group accounts. These accounts therefore give information relating to the company as an individual undertaking, and not about its group. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Investment property |
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Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in other comprehensive income. |
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Investments |
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Investments in group companies are carried at cost and consolidated into the group accounts prepared by The Trademark Group Limited. Other investments are measured at fair value. Changes in value are recognised in other comprehensive income. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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| 3 |
Tangible fixed assets |
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Investment property |
| £ |
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Valuation |
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At 1 April 2024 |
5,677,500 |
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Additions |
4,763,587 |
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Surplus on revaluation |
160,068 |
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At 31 March 2025 |
£ 10,601,155 |
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Net book value |
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At 31 March 2025 |
£ 10,601,155 |
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At 31 March 2024 |
£ 5,677,500 |
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Freehold land and buildings: |
2025 |
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2024 |
| £ |
£ |
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Historical cost |
£ 7,106,397 |
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£ 2,342,810 |
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Investment properties with a value of £277,500 were valued at Open Market Value by Knight Frank LLP on 14th October 2021. The valuer is a qualified MRICS. Investment properties with a value of £5,400,000 were valued by Paragon Bank on 19th May 2023, properties with a value of £1,305,000 were valued by TML on 29th October 2024, and recently acquired properties with a value of £3,618,655 have been valued by the director at cost.
Compliance with the FRS 102 is a departure from the Companies Act 2006 necessary to give a true and fair view. |
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| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost |
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At 1 April 2024 |
72,050 |
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At 31 March 2025 |
£ 72,050 |
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The company owns 100% of David Edward Property & Development Ltd., a company incorporated in England & Wales. |
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| 5 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Trade debtors |
13,454 |
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- |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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1,680,083 |
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8,573,199 |
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Prepayments & accrued income |
36,017 |
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37,199 |
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£ 1,729,554 |
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£ 8,610,398 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans and overdrafts |
5,556 |
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5,556 |
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Trade creditors |
43,984 |
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28,798 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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3,211,966 |
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5,186,451 |
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Taxation and social security costs |
23,452 |
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964 |
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Accruals & deferred income |
6,165 |
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6,157 |
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£ 3,291,123 |
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£ 5,227,926 |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans |
3,536,156 |
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3,541,711 |
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Trade creditors |
- |
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5,000 |
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£ 3,536,156 |
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£ 3,546,711 |
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| 8 |
Loans |
2025 |
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2024 |
| £ |
£ |
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Creditors include: |
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Amounts payable otherwise than by instalment falling due for payment after more than five years |
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3,512,545 |
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3,512,545 |
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Instalments falling due for payment after more than five years |
1,388 |
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6,944 |
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£ 3,513,933 |
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£ 3,519,489 |
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Secured bank loans |
£ 3,512,545 |
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£ 3,512,545 |
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The secured loans are secured on the investment property valued at £5.4M, are interest only, and have a final date for repayment of 31st October 2048. The holding company shareholders, T. G. & S. T. McMillan have also given personal guarantees. |
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| 9 |
Revaluation reserve |
2025 |
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2024 |
| £ |
£ |
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At 1 April 2024 |
2,800,549 |
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2,800,549 |
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Gain on revaluation of land and buildings |
160,068 |
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- |
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Deferred taxation arising on the revaluation of land and buildings |
(40,017) |
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- |
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At 31 March 2025 |
£ 2,920,600 |
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£ 2,800,549 |
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| 10 |
Contingent liabilities |
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The company has entered into a group banking arrangement with its fellow group companies and has given an unlimited cross guarantee and debenture to secure group borrowings. The borrowings secured under this arrangement at the Balance Sheet date were £Nil (2024 - £Nil). The director does not anticipate that these arrangements will result in any loss to the company. |
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| 11 |
Related party transactions |
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The company is exempt from disclosing transactions with fellow group companies under Section 33-1A of FRS102 as it is a wholly owned group. |
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| 12 |
Controlling party |
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The company's ultimate holding company is The Trademark Group Ltd, a company incorporated in England & Wales, whose principal place of business is Studio One, 197 Long Lane, London SE1 4PD. The Trademark Group Ltd is controlled by Mr T G McMillan. Accounts for The Trademark Group Ltd can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. |
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| 13 |
Other information |
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Trademark Property And Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Studio One |
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197 Long Lane |
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London |
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SE1 4PD |