TJ Properties (SW) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

TJ Properties (SW) Limited

(Registration number: 03168170)
Statement of Financial Position as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,407,371	2,306,724
Current assets
Debtors	5	2,599	126,346
Cash at bank and in hand		110,075	111,174
		112,674	237,520
Creditors: Amounts falling due within one year	6	(562,699)	(706,398)
Net current liabilities		(450,025)	(468,878)
Total assets less current liabilities		1,957,346	1,837,846
Provisions for liabilities		(132,548)	(132,441)
Net assets		1,824,798	1,705,405
Capital and reserves
Called up share capital		1,000	1,000
Revaluation reserve		637,626	537,540
Profit and loss account		1,186,172	1,166,865
Shareholders' funds		1,824,798	1,705,405

For the financial year ending 30 April 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 26 November 2025 and signed on its behalf by:
 

Mrs Z Bennett Director

TJ Properties (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Plym House,
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is the rental of investment properties.

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.

TJ Properties (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Rental income from tenants is recognised as the amounts become receivable.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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 valued 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 at any changes in fair value are recognised in the profit or loss.

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

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.

TJ Properties (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

4	Tangible assets

	Land and buildings £	Office equipment £	Total £
Cost or valuation
At 1 May 2024	2,306,724	-	2,306,724
Revaluations	100,086	-	100,086
Additions	-	572	572
At 30 April 2025	2,406,810	572	2,407,382
Depreciation
Charge for the year	-	11	11
At 30 April 2025	-	11	11
Carrying amount
At 30 April 2025	2,406,810	561	2,407,371
At 30 April 2024	2,306,724	-	2,306,724

Included within the net book value of land and buildings above is £2,406,810 (2024 - £2,306,724) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Freehold property was revalued on 30 April 2025. An independent valuer was not involved.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,636,747 (2024 - £1,636,747).

5

Debtors

	2025 £	2024 £
Trade debtors	1,320	-
Other debtors	-	125,193
Prepayments	1,279	1,153
	2,599	126,346

TJ Properties (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Trade creditors		191	-
Amounts owed to group undertakings	8	-	685,502
Taxation and social security		4,408	18,080
Accruals and deferred income		3,376	816
Other creditors		554,724	2,000
		562,699	706,398

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	100,086	100,086

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Transactions with directors

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

2025	At 1 May 2024 £	Advances to director £	Repayments by director £	At 30 April 2025 £
Directors	122,473	16,173	(691,275)	(552,629)

2024	At 1 May 2023 £	Repayments by director £	At 30 April 2024 £
Directors	(4,000)	126,473	122,473

TJ Properties (SW) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025 (continued)

8	Related party transactions (continued)

Loans from related parties

2025	Other related parties £	Total £
At start of period	685,502	685,502
Repaid	(685,502)	(685,502)
At end of period	-	-

2024	Other related parties £	Total £
At start of period	685,502	685,502
At end of period	685,502	685,502

Terms of loans from related parties

The above loan is to a company which is also in control of the same four directors.
During the year the company went into voluntary liquidation and consequently the loan was written off.