TAID Property Ltd Filleted accounts for Companies House (small and micro)

TAID Property Ltd Filleted accounts for Companies House (small and micro)

TAID PROPERTY LIMITED - Company Information

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0 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 285,000 285,000 285,000 xbrli:pure xbrli:shares iso4217:GBP 01682468 2022-06-01 2023-05-31 01682468 2023-05-31 01682468 2022-05-31 01682468 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 01682468 bus:Director1 2022-06-01 2023-05-31 01682468 core:WithinOneYear 2023-05-31 01682468 core:WithinOneYear 2022-05-31 01682468 core:AfterOneYear 2023-05-31 01682468 core:AfterOneYear 2022-05-31 01682468 core:ShareCapital 2023-05-31 01682468 core:ShareCapital 2022-05-31 01682468 core:CapitalRedemptionReserve 2023-05-31 01682468 core:CapitalRedemptionReserve 2022-05-31 01682468 core:RetainedEarningsAccumulatedLosses 2023-05-31 01682468 core:RetainedEarningsAccumulatedLosses 2022-05-31 01682468 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 01682468 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 01682468 bus:SmallEntities 2022-06-01 2023-05-31 01682468 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 01682468 bus:FullAccounts 2022-06-01 2023-05-31 01682468 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 01682468 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 01682468 bus:OrdinaryShareClass1 2023-05-31 01682468 bus:OrdinaryShareClass1 2022-05-31
COMPANY REGISTRATION NUMBER: 01682468
TAID Property Ltd
Filleted Unaudited Financial Statements
31 May 2023
TAID Property Ltd
Financial Statements
Year ended 31 May 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
TAID Property Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
285,000
285,000
Current assets
Debtors
5
19,853
19,828
Cash at bank and in hand
47,130
35,274
--------
--------
66,983
55,102
Creditors: amounts falling due within one year
6
744,608
744,328
---------
---------
Net current liabilities
677,625
689,226
---------
---------
Total assets less current liabilities
( 392,625)
( 404,226)
Creditors: amounts falling due after more than one year
7
22,449
32,407
---------
---------
Net liabilities
( 415,074)
( 436,633)
---------
---------
Capital and reserves
Called up share capital
8
300,000
300,000
Capital redemption reserve
19,167
19,167
Profit and loss account
( 734,241)
( 755,800)
---------
---------
Shareholders deficit
( 415,074)
( 436,633)
---------
---------
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 income statement has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year 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 .
TAID Property Ltd
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
Mr JC Mathias
Director
Company registration number: 01682468
TAID Property Ltd
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Parcau Isaf Farm, Laleston, Bridgend, CF32 0NB.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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.
4. Tangible assets
Freehold property
£
Cost
At 1 June 2022 and 31 May 2023
285,000
---------
Depreciation
At 1 June 2022 and 31 May 2023
–
---------
Carrying amount
At 31 May 2023
285,000
---------
At 31 May 2022
285,000
---------
The investment property was valued on an open market basis on 12th September 2023 by the director.
5. Debtors
2023
2022
£
£
Trade debtors
19,335
19,335
Other debtors
518
493
--------
--------
19,853
19,828
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,958
9,702
Trade creditors
516
493
Social security and other taxes
2,762
2,762
Other creditors
731,372
731,371
---------
---------
744,608
744,328
---------
---------
Included within other creditors is a debt secured by a fixed and floating charge on all assets.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,449
32,407
--------
--------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
300,000
300,000
300,000
300,000
---------
---------
---------
---------