REGISTERED NUMBER: 04598139 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

TEAM FRED PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

E W Ewing

SECRETARY:

Mrs F C O Ewing

REGISTERED OFFICE:

Langley House

Park Road

London

N2 8EY

REGISTERED NUMBER:

04598139 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House

53 Theobald Street

Borehamwood

WD6 4RT

FIXED ASSETS

Tangible assets

4

38,824

59,758

Investment property

5

1,194,693

1,194,693

1,233,517

1,254,451

CURRENT ASSETS

Debtors

6

4,527

2,012

Cash at bank

9,420

2,364

13,947

4,376

CREDITORS

Amounts falling due within one year

7

441,165

450,314

NET CURRENT LIABILITIES

(427,218

)

(445,938

)

TOTAL ASSETS LESS CURRENT LIABILITIES

806,299

808,513

CREDITORS

Amounts falling due after more than one year

8

(2,647

)

(7,808

)

PROVISIONS FOR LIABILITIES

(124,534

)

(126,637

)

NET ASSETS

679,118

674,068

CAPITAL AND RESERVES

Called up share capital

100

100

Undistributable reserve

578,875

578,875

Retained earnings

100,143

95,093

679,118

674,068

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 director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

E W Ewing - Director

1.	STATUTORY INFORMATION

Team Fred Properties 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 is measured at the fair value of consideration received or receivable excluding discounts and rebates for the services sold in the normal course of business.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance

Investment property

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment of assets

A review of 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 reversals at each reporting date.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

129,588

DEPRECIATION

At 1 April 2024

69,830

Charge for year

20,934

At 31 March 2025

90,764

NET BOOK VALUE

At 31 March 2025

38,824

At 31 March 2024

59,758

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,194,693

NET BOOK VALUE

At 31 March 2025

1,194,693

At 31 March 2024

1,194,693

Fair value at 31 March 2025 is represented by:

£

Valuation in 2020

699,929

Cost

494,764

1,194,693

Investment property comprises three rental properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2025 by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

2,064

2,012

Other debtors

2,463

-

4,527

2,012

Included within other debtors are prepayments of £2,463 (2024: £Nil).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

5,165

5,068

Trade creditors

-

734

Amounts owed to group undertakings

6,000

12,000

Other creditors

430,000

432,512

441,165

450,314

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

2,647

7,808

9.	RELATED PARTY DISCLOSURES

Included in other creditors due within one year is an amount of £430,000 (2024: £431,904) owed to the directors. These funds are provided on an interest free basis and are repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of TF (Norfolk) Limited, a company incorporated in England and Wales. The registered office is Langley House, 53 Theobald Street, Borehamwood, England, WD6 4RT.