Taj Property Investments LTD Filleted accounts for Companies House (small and micro)

TAJ PROPERTY INVESTMENTS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 12035243

Taj Property Investments LTD

Filleted Unaudited Financial Statements

30 June 2020

Taj Property Investments LTD

Statement of Financial Position

30 June 2020

	30 Jun 20
Note	£

Fixed assets

Tangible assets	4	150,000

Creditors: amounts falling due within one year	5	149,000
		---------
Net current liabilities		149,000
		---------
Total assets less current liabilities		1,000
		-------

Capital and reserves

Called up share capital	1,000
	-------
Shareholders funds	1,000
	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The company did not trade during the current period or prior period and has not made either a profit or loss.

For the period ending 30 June 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 26 March 2021 , and are signed on behalf of the board by:

Mr M K Khanna
Director

Company registration number: 12035243

Taj Property Investments LTD

Notes to the Financial Statements

Period from 5 June 2019 to 30 June 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Agincourt Villas, Uxbridge Road, Hillingdon, Middlesex, UB10 0NX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Income statement

The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current period or prior period and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current period or prior period.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

4. Tangible assets

	Freehold property
	£
Cost
At 5 June 2019	–
Additions	150,000
	---------
At 30 June 2020	150,000
	---------
Depreciation
At 5 June 2019 and 30 June 2020	–
	---------
Carrying amount
At 30 June 2020	150,000
	---------

Included within the above is investment property as follows:

	£
At 5 June 2019	–
Additions	150,000
	---------
At 30 June 2020	150,000
	---------

The property was revalued by the directors at the year end and is considered by them to be reflective of the fair value at the balance sheet date.

5. Creditors: amounts falling due within one year

	30 Jun 20
	£
Other creditors	149,000
	---------

6. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	30 Jun 20
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr M K Khanna	–	( 149,000)	( 149,000)
	----	---------	---------

7. Related party transactions

The company was under the control of the directors. At the balance sheet date other creditors include an interest free loan of £149,0000 from Mr Manoj Kumar Khanna who holds 85% shares in the company. The loan was taken to finance the purchase of the investment properties. This loan is unsecured, interest free and repayable on demand. It will definitely become repayable at the sale of the investment property