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Registered number: 00716908
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 30 NOVEMBER 2025
| TENNAY PROPERTIES LIMITED
TENNAY PROPERTIES LIMITED |  |
COMPANY INFORMATION
Directors | B. F. Allan
| N. D. Allan
Registered number | 00716908
Registered office | Dial House
| Govett Avenue
| Shepperton
| Middlesex
| TW17 8AG
Accountants | Menzies LLP
| Chartered Accountants
| Origin One
| 108 High Street
| Crawley
| RH10 1BD
Bankers | Lloyds Bank plc
| Connaught House
| Alexandra Terrace
| Guildford
| Surrey
| GU1 3DA
Solicitors | Moore Barlow LLP
| Concord House
| 165 Church Street East
| Woking
| Surrey
| GU21 6HJ
TENNAY PROPERTIES LIMITED |  |
CONTENTS
| Page
Statement of financial position | 1 - 2
Notes to the financial statements | 3 - 8
TENNAY PROPERTIES LIMITED REGISTERED NUMBER:00716908 |  |
STATEMENT OF FINANCIAL POSITION AS AT 30 NOVEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 3 |  | 167,522 |  | 266,836
Investment property | 4 |  | 15,917,250 |  | 17,232,250
|  |  | 16,084,772 |  | 17,499,086
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 90,926 |  | 472,868 |
Cash at bank and in hand |  | 2,482,178 |  | 1,583,696 |
|  | 2,573,104 |  | 2,056,564 |
Creditors: amounts falling due within one year | 6 | (2,614,498) |  | (2,552,891) |
Net current liabilities |  |  | (41,394) |  | (496,327)
Total assets less current liabilities |  |  | 16,043,378 |  | 17,002,759
Creditors: amounts falling due after more than one year | 7 |  | - |  | (960,204)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (1,232,964) |  | (1,635,914) |
|  |  | (1,232,964) |  | (1,635,914)
Net assets |  |  | 14,810,414 |  | 14,406,641
Capital and reserves |  |  |  |  |
Allotted, called up and fully paid share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 14,810,314 |  | 14,406,541
|  |  | 14,810,414 |  | 14,406,641
Page 1
TENNAY PROPERTIES LIMITED REGISTERED NUMBER:00716908 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 NOVEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
N. D. Allan | B. F. Allan
Director | Director
Date: 13 March 2026 | Date: 13 March 2026
The notes on pages 3 to 8 form part of these financial statements. Page 2
TENNAY PROPERTIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
1. | General information
Tennay Properties Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office and trading office is disclosed on the Company Information page. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The financial statements are presented in sterling and are rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Revenue
Rental income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Rental income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.3 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and Equipment | - | 10% to 25% per annum on cost
|  |  |  | Motor vehicles | - | 25% per annum on cost
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.4 | Investment property
Investment property is carried at fair value determined annually by external valuers and the directors, derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. Page 3
TENNAY PROPERTIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025 2.Accounting policies (continued)
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Page 4
TENNAY PROPERTIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
3. | Tangible assets
|  | Plant & Equipment | Motor vehicles | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 December 2024 | 547,076 | 123,570 | 670,646
| Additions | 2,612 | 45,466 | 48,078
| Disposals | (211,462) | (9,780) | (221,242)
| At 30 November 2025 | 338,226 | 159,256 | 497,482
| Depreciation |  |  |
| At 1 December 2024 | 316,610 | 87,200 | 403,810
| Charge for the year | 33,162 | 34,003 | 67,165
| Disposals | (131,235) | (9,780) | (141,015)
| At 30 November 2025 | 218,537 | 111,423 | 329,960
| Net book value |  |  |
| At 30 November 2025 | 119,689 | 47,833 | 167,522
| At 30 November 2024 | 230,466 | 36,370 | 266,836
Page 5
TENNAY PROPERTIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
4. | Investment property
|  | Investment property
|  | £
| Valuation |
| At 1 December 2024 | 17,232,250
| Additions at cost | 1,995,000
| Disposals | (3,310,000)
| At 30 November 2025 | 15,917,250
The 2025 valuations were made by the directors, on an open market value basis.
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 9,442,925 | 8,944,655
| Accumulated depreciation | - | -
|  | 9,442,925 | 8,944,655
Page 6
TENNAY PROPERTIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 765 | 9,905
| Amounts owed by group undertakings | - | 367,390
| Other debtors | 47,793 | 40,118
| Prepayments and accrued income | 42,368 | 55,455
|  | 90,926 | 472,868
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 28,723
| Trade creditors | 66,264 | 88,677
| Amounts owed to group undertakings | 2,100,000 | 1,850,000
| Other taxation and social security | 114,261 | 60,704
| Other creditors | 157,693 | 332,390
| Accruals and deferred income | 176,280 | 192,397
|  | 2,614,498 | 2,552,891
| Included within other creditors is £5,568 (2024: £2,571) of unpaid pension contributions.
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 960,204
|  | - | 960,204
8. | Contingencies
The Company has an available credit facility with Lloyds Bank plc with an omnibus guarantee and set-off arrangement to secure the borrowings of other companies within the group. The facility was unused during the current and previous year. There is a fixed charge over the freehold property known as Dial House, Govett Avenue, Shepperton TW17 8AG, the freehold property known as Miles House, Govett Avenue, Shepperton TW17 8AS held by some former shareholders. Page 7
TENNAY PROPERTIES LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | - | 28,723
|  | - | 28,723
| Amounts falling due 1-2 years |  |
| Bank loans | - | 30,867
| Amounts falling due 2-5 years |  |
| Bank loans | - | 929,337
|  | - | 988,927
| The above bank loan is with Lloyds Bank PLC is repayable over 60 months and carries interest at a rate of 1.99% above the base rate.
10. | Ultimate parent company
The ultimate parent company is IAGP Limited which is registered in England and Wales. The immediate parent company remains Ian Allan Group Limited. Copies of the consolidated financial statements of IAGP Limited can be obtained from Dial House, Govett Avenue, Shepperton, Middlesex, TW17 8AG. This is the largest and smallest group of undertakings for which consolidated financial statements are available.
Page 8