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

REGISTERED NUMBER: 00508799 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2020

for

T.G. Burn Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L S Auden

Mr J P Auden

SECRETARY:

Rev L P Auden

REGISTERED OFFICE:

90-92 High Street

Evesham

Worcestershire

WR11 4EU

REGISTERED NUMBER:

00508799 (England and Wales)

ACCOUNTANTS:

Attwoods

90-92 High Street

Evesham

Worcestershire

WR11 4EU

FIXED ASSETS

Investment property

4

1,240,000

1,075,000

CURRENT ASSETS

Debtors

5

20,228

32,733

Cash at bank

1,007

1,890

21,235

34,623

CREDITORS

Amounts falling due within one year

6

60,419

62,992

NET CURRENT LIABILITIES

(39,184

)

(28,369

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,200,816

1,046,631

CREDITORS

Amounts falling due after more than one year

7

(13,050

)

(13,050

)

PROVISIONS FOR LIABILITIES

8

(189,079

)

(135,932

)

NET ASSETS

998,687

897,649

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Fair value reserve

10

806,072

694,218

Retained earnings

10

191,615

202,431

SHAREHOLDERS' FUNDS

998,687

897,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 and authorised for issue on 16 September 2020 and were signed on its behalf by:

Mr J P Auden - Director

1.	STATUTORY INFORMATION

T.G. Burn 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Investment property

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

fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2019

1,075,000

Revaluations

165,000

At 31 January 2020

1,240,000

NET BOOK VALUE

At 31 January 2020

1,240,000

At 31 January 2019

1,075,000

Fair value at 31 January 2020 is represented by:

£

Valuation in 2003

915,150

Valuation in 2004

47,500

Valuation in 2005

49,875

Valuation in 2006

102,625

Valuation in 2007

(10,000

)

Valuation in 2009

(215,800

)

Valuation in 2014

(139,200

)

Valuation in 2015

35,000

Valuation in 2019

45,000

Valuation in 2020

165,000

Cost

244,850

1,240,000

If investment property had not been revalued it would have been included at the following historical cost:

31.1.20

31.1.19

£

£

Cost

244,850

244,850

Cardiff Investment property was valued on an open market basis on 31 January 2020 by using an open market offer received.

.

An additional investment property was purchased in 2011 at a cost of £210,000. This was revalued by the

directors as at 31 January 2019 at £290,000.

Valuation in 2003 also includes revaluation in 1999 of £365,150

5.

DEBTORS

31.1.20

31.1.19

£

£

Amounts falling due within one year:

Trade debtors

3,736

18,958

Directors' current accounts

1,978

-

Prepayments

1,464

725

7,178

19,683

Amounts falling due after more than one year:

Other debtors

13,050

13,050

Aggregate amounts

20,228

32,733

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade creditors

1,215

900

Taxation

7,978

10,909

Social security and other taxes

816

178

Other creditors

1,813

-

Net Wages

2,624

625

Directors' current accounts

37,056

37,907

Deferred income

8,342

7,547

Accrued expenses

575

4,926

60,419

62,992

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Other creditors

13,050

13,050

8.	PROVISIONS FOR LIABILITIES

31.1.20

31.1.19

£

£

Deferred tax on revaluations

189,079

135,932

Deferred

tax

£

Balance at 1 February 2019

135,932

Charge to Income Statement during year

53,147

Balance at 31 January 2020

189,079

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 February 2019

202,431

694,218

896,649

Profit for the year

33,584

33,584

Dividends

(44,400

)

(44,400

)

Deferred tax on revaluation

-

111,854

111,854

At 31 January 2020

191,615

806,072

997,687

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2020 and

31 January 2019:

31.1.20

31.1.19

£

£

Mr J P Auden

Balance outstanding at start of year

(852

)

(7,079

)

Amounts advanced

14,652

23,961

Amounts repaid

(11,822

)

(17,734

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,978

(852

)

12.	RELATED PARTY DISCLOSURES

Other creditors in the year include dividends owed to the L J Newman Trust of £1,813, where the directors of

the company are also beneficiaries of the trust.

13.	ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party due to the split of shareholdings.