T.C. Properties Limited - Accounts to registrar (filleted) - small 17.3
T.C. Properties Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2017 |
| for |
| T.C. Properties Limited |
| T.C. Properties Limited (Registered number: 00599127) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| T.C. Properties Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 20 Exhibition House |
| Addison Bridge Place |
| London |
| W14 8XP |
| T.C. Properties Limited (Registered number: 00599127) |
| Balance Sheet |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| T.C. Properties Limited (Registered number: 00599127) |
| Balance Sheet - continued |
| 31 March 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| T.C. Properties Limited (Registered number: 00599127) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| T.C. Properties Limited is a |
| 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 |
| Turnover |
| Turnover is the total amount, excluding value added tax, derived from letting the company's freehold |
| properties. |
| Investment properties |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
| fair value is recognized in profit or loss. |
| Investment properties are included in the balance sheet at their open market value . Depreciation is provided |
| only on those investment properties which are leased hold and where the unexpired lease term is less than 20 |
| years . |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognized at cost less impairment . |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| T.C. Properties Limited (Registered number: 00599127) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Debtor |
| Basic financial assets, including trade and other debtors, are initially recognized at transaction price, unless the |
| arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
| future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortized cost |
| using the effective interest method, less any impairment. |
| CREDITORS |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
| parties, are initially recognized at transaction price, unless the arrangement constitutes a financing |
| transaction,where the debt instrument is measured at the present value of the future payments discounted at |
| a market rate of interest. Such instruments are subsequently carried at amortized cost using the effective |
| interest method, less any impairment. |
| CASH AND CASH EQUIVALENTS |
| Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
| other short-term highly liquid investments that mature in no more than three months from the date of |
| acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Investment |
| property |
| £ |
| COST OR VALUATION |
| At 1 April 2016 |
| Revaluations |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Cost or valuation at 31 March 2017 is represented by: |
| Investment |
| property |
| £ |
| Valuation in 2015 | 878,882 |
| Valuation in 2017 | 1,012,572 |
| Cost | 288,718 |
| 2,180,172 |
| T.C. Properties Limited (Registered number: 00599127) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Loan | 500 | 500 |
| Prepayments and accrued income |
| The loan is to an associated company and is unsecured and interest free. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Loan |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| The loan is from an associated company and is unsecured and interest free. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 20,000 | 20,000 |
| T.C. Properties Limited (Registered number: 00599127) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 9. | RELATED PARTY DISCLOSURES |
| Shelbourne, Letheby & Co Ltd |
| A company in which Mr T M Letheby has material beneficial interests. |
| Property maintenance and management services to the value of £53,063 (2016: £87,241) were provided during |
| the year. |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party at the balance sheet date | 32,994 | 31,835 |
| Hanwell Investment Company |
| Company hold material benefical interests |
| Loan from associated company |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party at the balance sheet date | 91,652 | 91,652 |
| W & J Properties(Ealing)Limited |
| A company in which MR T M Letheby has material beneficial interests |
| Loan to associated company |
| 2017 | 2016 |
| £ | £ |
| Amount due from related party at the balance sheet date | 500 | 500 |
| W.L & J.M. Properties Limited |
| A company in which MR T M Letheby has material beneficial interests |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party at the balance sheet date | 21,550 | 21,550 |
| T.C. Properties Limited (Registered number: 00599127) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 10. | FIRST YEAR ADOPTION |
| The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention |
| and in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at 1st |
| January 2015. |
| Reconciliation of equity |
| No transitional adjustments were required. |
| Reconciliation of profit or loss for the year |
| No transitional adjustments were required. |