Times Property Developments (UK) Limited Accounts

TIMES PROPERTY DEVELOPMENTS (UK) LIMITED - Company Information

		Registered number
		04531729
		(England & Wales)



Times Property Developments (UK) Limited

	Information for Filing with The Registrar
	30 November 2021



The Directors present their report and the accounts for the year ended 30 November 2021.

Principal activities
The principal activity of the company during the year under review was that of property letting.




Directors

The Directors who served at any time during the year were as follows:

Basharat Ditta
Istikhar Hussain




































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

Istikhar Hussain
Company Secretary
18 August 2022


at	30 November 2021

			Notes	2021	2020
				£	£
Fixed assets

	Tangible assets		4	1,356,070	1,356,070


				1,356,070	1,356,070
Current assets



	Cash at bank and in hand			1	1
				1	1
Creditors: Amount falling due within one year			5	(560,972)	(560,749)
Net current liabilities				(560,971)	(560,748)
Total assets less current liabilities				795,099	795,322




Net assets				795,099	795,322

Capital and reserves
	Called up share capital			37,500	37,500


	Capital redemption reserve		6	12,500	12,500
	Profit and loss account		6	745,099	745,322

Total equity				795,099	795,322



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Company No.		04531729
Approved by the board on 18 August 2022
And signed on its behalf by:
Istikhar Hussain
Director
18 August 2022

for the year ended 30 November 2021

General information

Its registered number is: 04531729

Its registered office is:

Its trading address is:

Capital House

Warneford Avenue

7 Sheepscar Court

Ossett

Northside Business Park

West Yorkshire

Leeds

LS7 2BB

WF5 9NJ

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. The March 2018 edition of FRS 102 includes amendments arising from the Financial Reporting Council's triennial review of the standard. There is no material effect on the amounts recognised in these financial statements as a result of early adopting these amendments.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

20% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2021	2020
			Number	Number
		The average number of persons employed during the year :	1	1

4	Tangible fixed assets
			Land and buildings	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 December 2020	1,356,070	7,556	1,363,626




		At 30 November 2021	1,356,070	7,556	1,363,626
		Depreciation
		At 1 December 2020	-	7,556	7,556




		At 30 November 2021	-	7,556	7,556
		Net book values
		At 30 November 2021	1,356,070	-	1,356,070
		At 30 November 2020	1,356,070	-	1,356,070

5	Creditors:
		amounts falling due within one year
			2021	2020
			£	£




		Trade creditors	34,932	31,812

		Corporation tax	20,776	29,348
		Other taxes and social security	10,719	11,439
		Loans from directors	193,116	188,120
		Other creditors	299,279	298,029
		Accruals and deferred income	2,150	2,001
			560,972	560,749

6	Reserves
			Capital redemption reserve	Total other reserves
			£	£
		At 1 December 2019	12,500	12,500



		At 30 November 2020 and 1 December 2020	12,500	12,500



		At 30 November 2021	12,500	12,500


		Capital redemption reserve - records the nominal value of shares repurchased by the company.

		Profit and loss account - includes all current and prior period retained profits and losses.