TIIC Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10848764 (England and Wales)

TIIC DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A B Greatrex

T S Follows

M R Heenan

G J Paris

Mrs S J Roper

Mrs C F Greatrex

Mrs S V Paris

J G Paris

Miss L Paris

Miss E J Greatrex

SECRETARY:

Miss E J Greatrex

REGISTERED OFFICE:

Gibson House

Hurricane Court

Hurricane Close

Stafford

ST16 1GZ

BUSINESS ADDRESS:

First Floor, Unit 7

Parker Court

Staffordshire Technology Park

Stafford

Staffordshire

ST18 0WP

REGISTERED NUMBER:

10848764 (England and Wales)

FIXED ASSETS

Investment property

4

1,642,657

1,642,657

CURRENT ASSETS

Debtors

5

4,330

3,110

Cash at bank

47,839

21,587

52,169

24,697

CREDITORS

Amounts falling due within one year

6

(1,570,269

)

(1,590,273

)

NET CURRENT LIABILITIES

(1,518,100

)

(1,565,576

)

TOTAL ASSETS LESS CURRENT LIABILITIES

124,557

77,081

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

124,457

76,981

SHAREHOLDERS' FUNDS

124,557

77,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 8 December 2023 and were signed on its behalf by:

T S Follows - Director

1.	STATUTORY INFORMATION

TIIC Developments 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:

Rental income

Rental income from operating leases, net of any incentives given to the lessees, is recognised on a straight-line basis over the lease term.

Interest receivable

Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The investment properties are shown at fair value based on a valuation by the directors.

Taxation

Taxation for the year comprises current 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 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

1,642,657

NET BOOK VALUE

At 31 March 2023

1,642,657

At 31 March 2022

1,642,657

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

4,330

3,110

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

100

1,076

Amounts owed to group undertakings

1,552,108

1,571,387

Tax

11,119

10,006

Other creditors

972

1,000

Accruals and deferred income

5,970

6,804

1,570,269

1,590,273

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100