Taupo Group Commercial Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10779540 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Taupo Group Commercial Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Pasco

Mrs S J Pasco

REGISTERED OFFICE:

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

REGISTERED NUMBER:

10779540 (England and Wales)

ACCOUNTANTS:

RA Accountants LLP

Chartered Certified Accountants

2nd Floor

Grove House

55 Lowlands Road

Harrow

Middlesex

HA1 3AW

FIXED ASSETS

Investment property

4

562,500

456,383

CURRENT ASSETS

Debtors

5

311,020

315,376

Cash at bank and in hand

24,131

6,154

335,151

321,530

CREDITORS

Amounts falling due within one year

6

622,923

616,645

NET CURRENT LIABILITIES

(287,772

)

(295,115

)

TOTAL ASSETS LESS CURRENT LIABILITIES

274,728

161,268

CREDITORS

Amounts falling due after more than one year

7

(163,862

)

(173,591

)

PROVISIONS FOR LIABILITIES

(20,162

)

-

NET ASSETS/(LIABILITIES)

90,704

(12,323

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

90,604

(12,423

)

SHAREHOLDERS' FUNDS

90,704

(12,323

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2022 and were signed on its behalf by:

R Pasco - Director

Mrs S J Pasco - Director

1.	STATUTORY INFORMATION

Taupo Group Commercial 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

The Company carries its investment properties at fair value, with changes in fair values being recognised in the income statement. In addition, it measures land and buildings at revalued amounts with changes in fair value being recognised in other comprehensive income.

Investment property shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. If a property interest held under a lease is classified as investment property, the item accounted for at fair value is that interest and not the underlying property.

Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal. Any gains or losses on the retirement or disposal of investment property, is recognised in the income statement in the period of derecognition. Transfers are made to or from investment property only when there is a change in use.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2020

456,383

Revaluations

106,117

At 30 June 2021

562,500

NET BOOK VALUE

At 30 June 2021

562,500

At 30 June 2020

456,383

Fair value at 30 June 2021 is represented by:

£

Valuation in 2021

562,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

-

3,375

Amounts owed by group undertakings

309,541

312,001

VAT

1,427

-

Prepayments

52

-

311,020

315,376

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts

18,215

18,215

Trade creditors

42

3,527

Amounts owed to group undertakings

600,735

584,243

Tax

3,056

-

VAT

-

1,576

Other creditors

-

7,124

Accrued expenses

875

1,960

622,923

616,645

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans - 1-2 years

18,215

18,215

Bank loans - 2-5 years

145,647

155,376

163,862

173,591

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 July 2020

(12,423

)

Profit for the year

103,027

At 30 June 2021

90,604

10.	RELATED PARTY DISCLOSURES

The amount owed to the group is a balance of £600,735 (2020: £584,243) due to Taupo Group Holdings Ltd and £309,541 (2020:£312,001) due by Taupo Group Residential Ltd a member of the group company,

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Taupo Group Holdings Limited , a company in which the Directors Mr S P Pasco and Ms S J Pasco are also directors. Taupo Group Holdings Limited is a company registered in England and Wales.