Tudor Price Properties Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Tudor Price Properties Limited

(Registration number: 12484797)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	291,059	20,389
Investment property	5	6,800,000	6,033,298
		7,091,059	6,053,687
Current assets
Debtors	6	28,075	56,474
Cash at bank and in hand		43,442	29,311
		71,517	85,785
Creditors: Amounts falling due within one year	7	(41,877)	(463,115)
Net current assets/(liabilities)		29,640	(377,330)
Total assets less current liabilities		7,120,699	5,676,357
Creditors: Amounts falling due after more than one year	7	(3,676,943)	(3,086,646)
Provisions for liabilities		(222,094)	(5,097)
Net assets		3,221,662	2,584,614
Capital and reserves
Called up share capital		100	100
Share premium reserve		2,477,735	2,477,735
Other reserves		575,027	-
Profit and loss account		168,800	106,779
Shareholders' funds		3,221,662	2,584,614

Tudor Price Properties Limited

(Registration number: 12484797)
Statement of Financial Position as at 31 March 2025 (continued)

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 16 December 2025 and signed on its behalf by:
 

Mr G Hay Director

Tudor Price Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Westcotts (Sw) Llp Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of letting and operating of own or leased real estate.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover represents the total rents receivable in the period net of any discounts.

Tudor Price Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Investment property	Not currently being depreciated
Fittings fixtures and equipment	25% reducing balance
Motor vehicles	33% reducing balance
Computer equipment	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Tudor Price Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Tudor Price Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Tudor Price Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

	Freehold property £	Fixtures, fittings and equipment £	Computer equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	-	10,503	2,788	70,411	83,702
Additions	169,386	-	599	121,198	291,183
Disposals	-	-	-	(31,161)	(31,161)
At 31 March 2025	169,386	10,503	3,387	160,448	343,724
Depreciation
At 1 April 2024	-	5,354	1,736	56,223	63,313
Charge for the year	-	1,287	269	12,678	14,234
Eliminated on disposal	-	-	-	(24,882)	(24,882)
At 31 March 2025	-	6,641	2,005	44,019	52,665
Carrying amount
At 31 March 2025	169,386	3,862	1,382	116,429	291,059
At 31 March 2024	-	5,149	1,052	14,188	20,389

5	Investment properties

	2025 £
At 1 April	6,033,298
Fair value adjustments	766,702
At 31 March	6,800,000

Investment property was revalued on 20 July 2025 by G Hay, director, to £6,969,386. This reflects the market value of similar properties.

Tudor Price Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Debtors

	2025 £	2024 £
Other debtors	22,466	51,208
Prepayments	5,609	5,266
	28,075	56,474

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Loans and borrowings	9,333	419,205
Taxation and social security	22,261	32,792
Accruals and deferred income	5,040	4,956
Other creditors	5,243	6,162
	41,877	463,115

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Loans and borrowings	3,676,943	3,086,646

Included within the above are loans which are secured against the assets to which they relate.

Loans outstanding at the year end includes amounts due after more than 5 years of £2,764,955 (2024: £2,674,545).

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Fair value reserve:

This reserves records gains or losses on investments measured at fair value through the profit and loss account.

Tudor Price Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

9	Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

 

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Directors	46,207	367,932	(391,673)	22,466

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
Directors	6,282	176,519	(136,594)	46,207

Directors' loan are repayable on demand and subject to interest on overdrawn balances at the official rate.