T&P Real Estate Ltd - Period Ending 2019-04-30

Registration number: 11298296

T&P Real Estate Ltd

Filleted Annual Report and Unaudited Financial Statements

for the Period from 7 April 2018 to 30 April 2019

T&P Real Estate Ltd

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 5

T&P Real Estate Ltd

Company Information

Directors

Mr J R Garside Mr J J Collins

Registered office

Tait Walker Medway House, Fudan Way Teesdale Park Stockton-on-Tees TS17 6EN

Bankers

Santander UK plc Bridle Road Bootle Merseyside G1R OAA

Accountants

MHA Tait Walker Chartered Accountants Medway House Fudan Way Teesdale Park Stockton on Tees TS17 6EN

1

T&P Real Estate Ltd

(Registration number: 11298296)
Statement of Financial Position as at 30 April 2019

	Note	2019 £
Current assets
Debtors	3	458,142
Cash at bank and in hand		38,889
		497,031
Creditors: Amounts falling due within one year	4	(537,689)
Net liabilities		(40,658)
Capital and reserves
Called up share capital		2
Profit and loss account		(40,660)
Total equity		(40,658)

For the financial period ending 30 April 2019 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 financial statements for the period 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 financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 20 December 2019 and signed on its behalf by:
 

......................................... Mr J R Garside Director

The notes on pages 3 to 5 form an integral part of these financial statements.
 

2

T&P Real Estate Ltd

Notes to the Financial Statements for the Period from 7 April 2018 to 30 April 2019

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is Tait Walker, Medway House, Fudan Way, Teesdale Park, Stockton-on-Tees, TS17 6EN.

The principal place of business is Parkview, Great West Road, Brentford, TW8 9AZ.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

At the balance sheet date, the company reported an excess of liabilities over assets totalling £40,658. However, liabilities include £518,949 owed to companies controlled by the shareholders who have confirmed their willingness to finance any shortages in the company's day to day finances and for
such an arrangement to continue for a period of not less than one year from the date the financial statements were approved by the Board.

Under the circumstances, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the annual report and accounts.

If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount and to provide further liabilities that might arise.

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T&P Real Estate Ltd

Notes to the Financial Statements for the Period from 7 April 2018 to 30 April 2019 (continued)

2	Accounting policies (continued)

Judgement 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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Debtors

	2019 £
Other debtors	458,142
	458,142

4

T&P Real Estate Ltd

Notes to the Financial Statements for the Period from 7 April 2018 to 30 April 2019 (continued)

4

Creditors

Creditors: amounts falling due within one year

	2019 £
Due within one year
Trade creditors	18,360
Other creditors	519,329
	537,689

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