Company registration number 15779518 (England and Wales)
Salop Homes Ltd
(formerly Tekapo Property Ltd)
Unaudited Financial Statements
For the period ended 30 June 2025
Salop Homes Ltd
(formerly Tekapo Property Ltd)
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Salop Homes Ltd
(formerly Tekapo Property Ltd)
Statement of financial position
As at 30 June 2025
30 June 2025
- 1 -
2025
Notes
£
£
Fixed assets
Investment property
3
1,491,079
Current assets
Cash at bank and in hand
10,823
Creditors: amounts falling due within one year
4
(992,090)
Net current liabilities
(981,267)
Total assets less current liabilities
509,812
Creditors: amounts falling due after more than one year
5
(529,995)
Net liabilities
(20,183)
Capital and reserves
Called up share capital
10
Profit and loss reserves
(20,193)
Total equity
(20,183)

For the financial period ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 February 2026 and are signed on its behalf by:
Mr R J Phillips
Director
Company registration number 15779518 (England and Wales)
Salop Homes Ltd
(formerly Tekapo Property Ltd)
Statement of changes in equity
For the period ended 30 June 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Period ended 30 June 2025:
Loss and total comprehensive income
-
(20,193)
(20,193)
Issue of share capital
10
-
10
Balance at 30 June 2025
10
(20,193)
(20,183)
Salop Homes Ltd
(formerly Tekapo Property Ltd)
Notes to the financial statements
For the period ended 30 June 2025
- 3 -
1
Accounting policies
Company information

Salop Homes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3 Mayfield Gardens, Shrewsbury, Shropshire, United Kingdom, SY2 6PZ.

1.1
Reporting period

The financial statements represent a period from incorporation which is in excess of one year.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Revenue

Revenue comprises sales of services provided to customers. Revenue is recognised when performance obligations are satisfied and the control of services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from rentals of property are recognised when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
Salop Homes Ltd
(formerly Tekapo Property Ltd)
Notes to the financial statements (continued)
For the period ended 30 June 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Salop Homes Ltd
(formerly Tekapo Property Ltd)
Notes to the financial statements (continued)
For the period ended 30 June 2025
1
Accounting policies
(Continued)
- 5 -

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
Number
Total
0
3
Investment property
2025
£
Fair value
At 14 June 2024
-
0
Additions
1,491,079
At 30 June 2025
1,491,079

Investment property comprises residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at the period end date by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Creditors: amounts falling due within one year
2025
£
Other creditors
992,090
5
Creditors: amounts falling due after more than one year
2025
£
Bank loans and overdrafts
529,995
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
529,995
Salop Homes Ltd
(formerly Tekapo Property Ltd)
Notes to the financial statements (continued)
For the period ended 30 June 2025
- 6 -
6
Security

The bank loan is secured over the property which it relates to.

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