T.C. Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00599127 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

T.C. Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T M Letheby

W A Mason

C J Mahoney

SECRETARY:

W A Mason

REGISTERED OFFICE:

20 Exhibition House

Addison Bridge Place

London

W14 8XP

REGISTERED NUMBER:

00599127 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,180,172

2,180,172

Investments

5

35,350

35,350

2,215,522

2,215,522

CURRENT ASSETS

Debtors

6

2,081

2,241

Cash at bank and in hand

502,028

472,879

504,109

475,120

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

194,223

196,377

NET CURRENT ASSETS

309,886

278,743

TOTAL ASSETS LESS CURRENT LIABILITIES

2,525,408

2,494,265

PROVISIONS FOR LIABILITIES

199,227

199,227

NET ASSETS

2,326,181

2,295,038

CAPITAL AND RESERVES

Called up share capital

8

20,200

20,000

Share premium

54,000

54,000

Revaluation reserve

1,692,227

1,692,227

Retained earnings

559,754

528,811

SHAREHOLDERS' FUNDS

2,326,181

2,295,038

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 2 December 2019 and were signed on its behalf by:

T M Letheby - Director

1.	STATUTORY INFORMATION

T.C. 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.

Turnover

Turnover is the total amount, excluding value added tax, derived from letting the company's freehold

properties.

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognized in profit or loss.

Investment properties are included in the balance sheet at their open market value . Depreciation is provided

only on those investment properties which are leased hold and where the unexpired lease term is less than 20

years .

Investments in subsidiaries

Investments in subsidiary undertakings are recognized at cost less impairment .

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Basic financial assets, including trade and other debtors, are initially recognized at transaction price, 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. Such assets are subsequently carried at amortized cost

using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognized at transaction price, unless the arrangement constitutes a financing

transaction,where the debt instrument is measured at the present value of the future payments discounted at

a market rate of interest. Such instruments are subsequently carried at amortized cost using the effective

interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of

acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2018

and 31 March 2019

2,180,172

NET BOOK VALUE

At 31 March 2019

2,180,172

At 31 March 2018

2,180,172

Cost or valuation at 31 March 2019 is represented by:

Land and

buildings

£

Valuation in 2015

878,882

Valuation in 2017

1,012,572

Valuation in 2018

288,718

2,180,172

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

35,350

NET BOOK VALUE

At 31 March 2019

35,350

At 31 March 2018

35,350

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

2,081

2,241

The loan is to an associated company and is unsecured and interest free.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

91,652

91,652

Taxation and social security

20,814

19,999

Other creditors

81,757

84,726

194,223

196,377

The loan is from an associated company and is unsecured and interest free.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

20,000

Ordinary

£1

20,000

20,000

200

Redeemable Ordinary Shares

£1

200

-

20,200

20,000

200 Redeemable Ordinary Shares shares of £1 each were allotted and fully paid for cash at par during the year.

9.	RELATED PARTY DISCLOSURES

Hanwell Investment Company

Company hold material benefical interests

Loan from associated company

2019

2018

£

£

Amount due to related party at the balance sheet date

91,652

91,652

W.L & J.M. Properties Limited

A company in which MR T M Letheby has material beneficial interests

2019

2018

£

£

Amount due to related party at the balance sheet date

21,550

21,550