Company No: 03464183 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	1,120		1,400
Investment property	5	1,000,000		1,000,000
		1,001,120		1,001,400
Current assets
Debtors	6	47		0
Cash at bank and in hand	7	85,599		73,807
		85,646		73,807
Creditors: amounts falling due within one year	8	( 54,648)		( 52,057)
Net current assets		30,998		21,750
Total assets less current liabilities		1,032,118		1,023,150
Creditors: amounts falling due after more than one year	9	( 200,000)		( 200,000)
Provision for liabilities	10	( 109,558)		( 109,558)
Net assets		722,560		713,592
Capital and reserves
Called-up share capital	11	2		2
Revaluation reserve		354,379		354,379
Profit and loss account		368,179		359,211
Total shareholder's funds		722,560		713,592

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Town & Provincial Developments Limited (registered number: 03464183) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J A Lichtenfeld Director

01 July 2026

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Town & Provincial Developments Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings

20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 October 2024	10,000		10,000
At 30 September 2025	10,000		10,000
Accumulated amortisation
At 01 October 2024	10,000		10,000
At 30 September 2025	10,000		10,000
Net book value
At 30 September 2025	0		0
At 30 September 2024	0		0

4. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 October 2024	7,948		7,948
At 30 September 2025	7,948		7,948
Accumulated depreciation
At 01 October 2024	6,548		6,548
Charge for the financial year	280		280
At 30 September 2025	6,828		6,828
Net book value
At 30 September 2025	1,120		1,120
At 30 September 2024	1,400		1,400

5. Investment property

	Investment property
	£
Valuation
As at 01 October 2024	1,000,000
As at 30 September 2025	1,000,000

Valuation

The valuation of investment property was completed by the directors at the statement of financial position date. The fair value of the group’s residential investment property at 30 September 2025 have been arrived at on the basis of valuations carried out on that date by the directors.

For commercial investment property, the yield methodology was used which involved applying market derived capitalisation yields to current and market derived future income streams with appropriate adjustments for income voids arising from vacancies or rent free periods. These capitalisation yields and future income streams are derived from comparable property and leasing transactions.

6. Debtors

	2025		2024
	£		£
Other debtors	47		0

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	85,599		73,807

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Taxation and social security	19,270		18,431
Other creditors	35,378		33,626
	54,648		52,057

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	200,000		200,000

There are no amounts included above in respect of which any security has been given by the small entity.

10. Provision for liabilities

	2025		2024
	£		£
Deferred tax	109,558		109,558

	Deferred taxation		Total
	£		£
At 01 October 2024	109,558		109,558
At 30 September 2025	109,558		109,558

Deferred tax

	2025		2024
	£		£
Other timing differences	109,558		109,558
Provision for deferred tax	109,558		109,558

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

12. Related party transactions

Included under other creditors, is an amount of £200,000 (2024 : £200,000) due to Jasil Properties Limited, a company in which Mr J A Lichtenfeld is also a director. This loan is interest free. During the year, the company provided management services to Jasil Properties Limited amounting to £7,500 (2024: £11,500).