T J D Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03616161 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

T J D Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Davison

D McLaughlin

K A Prain

A Moorley

SECRETARY:

A J Davison

REGISTERED OFFICE:

Moor Chambers

26 Front Street

Framwellgate Moor

Durham

DH1 5EJ

REGISTERED NUMBER:

03616161 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Kepier House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

1,893

3,569

Investment property

5

6,894,077

6,894,077

6,895,970

6,897,646

CURRENT ASSETS

Debtors

6

33,367

50,160

Cash at bank and in hand

114,358

31,208

147,725

81,368

CREDITORS

Amounts falling due within one year

7

5,708,513

3,016,861

NET CURRENT LIABILITIES

(5,560,788

)

(2,935,493

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,335,182

3,962,153

CREDITORS

Amounts falling due after more than one year

8

-

(2,735,584

)

PROVISIONS FOR LIABILITIES

10

(39,239

)

(39,239

)

NET ASSETS

1,295,943

1,187,330

CAPITAL AND RESERVES

Called up share capital

11

422,016

422,016

Share premium

1,101,862

1,101,862

Retained earnings non -

distributable

206,521

206,521

Retained earnings

(434,456

)

(543,069

)

SHAREHOLDERS' FUNDS

1,295,943

1,187,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2021 and were signed on its behalf by:

A J Davison - Director

1.	STATUTORY INFORMATION

T J D 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern

The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

At the date of approval, the country and indeed the rest of the world is in the midst of dealing with the Covid-19 pandemic. This has impacted unfavourably on the levels of work possible. Whilst there is uncertainty around the length of time the Covid-19 pandemic will last and the full impact on the global economy, the directors believe that it is appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements due to the levels of reserves and potential financial support available.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However, the validity of the going concern basis is dependent upon the company's ability to continue to operate with the support of the directors and creditors of the company. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents rents receivable during the year. Rents received in advance that relate to future periods are deferred and provided for in creditors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Tangible fixed assets are included at cost less accumulated depreciation and impairment.

Government grants

Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset.

Revenue based grants are credited to the profit and loss account on receipt.

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2020

and 31 March 2021

27,094

1,122

28,216

DEPRECIATION

At 1 April 2020

23,525

1,122

24,647

Charge for year

1,676

-

1,676

At 31 March 2021

25,201

1,122

26,323

NET BOOK VALUE

At 31 March 2021

1,893

-

1,893

At 31 March 2020

3,569

-

3,569

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

6,894,077

NET BOOK VALUE

At 31 March 2021

6,894,077

At 31 March 2020

6,894,077

Fair value at 31 March 2021 is represented by:

£

Valuation in 2014

(2,000,000

)

Valuation in 2016

206,521

Cost

8,687,556

6,894,077

Investment properties were valued by Sanderson Weatherall on an open market value basis on 12 February 2016.

In the opinion of the directors, this represents the fair value as at 31 March 2021.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

15,251

13,007

Other debtors

8,333

22,000

Prepayments and accrued income

9,783

15,153

33,367

50,160

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

3,032,061

296,477

Trade creditors

21,185

47,471

Social security and other taxes

17,108

10,791

Other creditors

20,940

45,426

Directors' current accounts

2,540,004

2,540,004

Accruals and deferred income

77,215

76,692

5,708,513

3,016,861

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loan - 1-2 years

-

309,048

Bank loans - 2-5 years

-

1,037,849

Bank loans more than 5 years

-

1,388,687

-

2,735,584

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

-

1,388,687

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

3,032,061

3,032,061

Bank loans are secured by way of a fixed and floating charge over the property and assets of the company.

10.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

39,239

39,239

Deferred

tax

£

Balance at 1 April 2020

39,239

Credited to the Profit & Loss

Account

Balance at 31 March 2021

39,239

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

422,016

Ordinary

£1

422,016

422,016

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions concluded at market rate.

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2021

2020

£

£

Amount due to directors

2,540,004

2,540,004

No interest has been charged.