Registered Number:13181937 |
For the year ended 28 February 2023
England and Wales
Unaudited Financial Statements
For the year ended 28 February 2023
A Thomas Homes Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
A Thomas Homes Limited
Statement of Financial Position
2022
2023
3
407,218
228,585
407,218
228,585
Trade and other receivables |
2,920
8,721
4
611
Cash and cash equivalents |
573
9,294
3,531
Trade and other payables: amounts falling due within one |
year |
(80,786)
(154,666)
5
(77,255)
(145,372)
Net current liabilities
Total assets less current liabilities |
261,846
151,330
Trade and other payables: amounts falling due after more |
than one year |
(163,196)
(292,609)
6
(30,763)
Net liabilities
(11,866)
100
100
(30,863)
(11,966)
(30,763)
(11,866)
Shareholders' funds
For the year ended 28 February 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 23 October 2023 and were signed by: |
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For the year ended 28 February 2023
A Thomas Homes Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
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For the year ended 28 February 2023
A Thomas Homes Limited
Notes to the Financial Statements
Statutory Information
A Thomas Homes Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 13181937. |
34 Milsted Road
Gillingham
Kent
ME8 6SU
The presentation currency is £ sterling. |
The income and expenditure relates to A Thomas Homes Ltd only.
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as |
modified by the revaluation of certain assets. |
Changes in accounting policies
The director's felt it prudent to change from reporting under FRS 105 to FRS 102 Section 1A to better reflect the financial position of the company at all times. The prior year figures have been restate to reflect any necessary changes and these are noted in the notes to the accounts point 2. prior year adjustments. |
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. |
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
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For the year ended 28 February 2023
A Thomas Homes Limited
Notes to the Financial Statements Continued
Deferred tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:· the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and· any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Financial Instruments at fair value
The company enters into basic financial instrument transactions that result in the recognition of financial assets and |
liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties |
and investments in not-puttable ordinary shares. |
Debt instruments that are payable or receivable within one year, typically trade payables and receivables, are |
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be |
paid or received. |
2. Prior year adjustments |
Prior year adjustments have been made to include materially mis-stated capital, bank and liabilities, which in part |
feeds throught to the profit and loss account. |
Fixed and current assets have increased by £12,116, current liabilities have increased by £24,082 resulting in a |
reduction in retained earning of £(11,966). |
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For the year ended 28 February 2023
A Thomas Homes Limited
Notes to the Financial Statements Continued
228,585
178,633
407,218
407,218
228,585
Fixed asset investments were valued by Mr Thomas director, on 28 February 2023 at fair value. Fair value was ascertained by the director taking into account the current market value as provided by an online valuation source and consideration for the location, desirability and current climate to give a fair value of the property portfolio. The historic cost of the properties before revaluation was £407,218 (2021: £228,585). |
4. Trade and other receivables |
2022
2023
8,721
2,920
The debtors above include the following amounts falling due after more than one year: |
-
2,807
5. Trade and other payables: amounts falling due within one year |
2022
2023
3,347
-
151,319
80,786
154,666
80,786
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For the year ended 28 February 2023
A Thomas Homes Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
Bank loans and overdraft (secured) |
292,609
163,196
Analysis of creditors falling due after more than five years: |
Payable otherwise than by instalments |
292,609
163,196
Two charges exist which are held over the investment assets of the company, the charges are held by third parties and total £292,609 (2021 : £163,196). |
7. Related party transactions |
The balance outstanding at period end was £148,969 (2021: £80,586), these are short term loans, repayable on |
demand and do not bear interest. |
8. Average number of persons employed |
During the year the average number of employees was 0 excluding director's.
The company transitioned from FRS 105 to FRS 102 Section 1A during the year. |
The transition has only been affected by material prior year adjustments (see notes to the accounts). Without prior |
year adjustments, no changes would have occurred to the retained earnings or the income statement. |
The change in reporting has resulted in the inclusion of prepayments, accruals, and deferred tax provisions. |
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