Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseDevelopment of properties.44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01787741 2022-01-01 2022-12-31 01787741 2021-01-01 2021-12-31 01787741 2022-12-31 01787741 2021-12-31 01787741 c:Director1 2022-01-01 2022-12-31 01787741 d:PlantMachinery 2022-01-01 2022-12-31 01787741 d:PlantMachinery 2022-12-31 01787741 d:PlantMachinery 2021-12-31 01787741 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01787741 d:MotorVehicles 2022-01-01 2022-12-31 01787741 d:MotorVehicles 2022-12-31 01787741 d:MotorVehicles 2021-12-31 01787741 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01787741 d:OfficeEquipment 2022-01-01 2022-12-31 01787741 d:OfficeEquipment 2022-12-31 01787741 d:OfficeEquipment 2021-12-31 01787741 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01787741 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 01787741 d:FreeholdInvestmentProperty 2022-12-31 01787741 d:FreeholdInvestmentProperty 2021-12-31 01787741 d:FreeholdInvestmentProperty 2 2022-01-01 2022-12-31 01787741 d:CurrentFinancialInstruments 2022-12-31 01787741 d:CurrentFinancialInstruments 2021-12-31 01787741 d:Non-currentFinancialInstruments 2022-12-31 01787741 d:Non-currentFinancialInstruments 2021-12-31 01787741 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01787741 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 01787741 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 01787741 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 01787741 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 01787741 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 01787741 d:ShareCapital 2022-12-31 01787741 d:ShareCapital 2021-12-31 01787741 d:CapitalRedemptionReserve 2022-12-31 01787741 d:CapitalRedemptionReserve 2021-12-31 01787741 d:RetainedEarningsAccumulatedLosses 2022-12-31 01787741 d:RetainedEarningsAccumulatedLosses 2021-12-31 01787741 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 01787741 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 01787741 c:FRS102 2022-01-01 2022-12-31 01787741 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 01787741 c:FullAccounts 2022-01-01 2022-12-31 01787741 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 01787741 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 01787741









THORNE BARTON ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
THORNE BARTON ESTATES LIMITED
REGISTERED NUMBER: 01787741

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,647
11,532

Investments
 5 
1
1

Investment property
 6 
3,200,000
2,469,891

  
3,208,648
2,481,424

Current assets
  

Stocks
  
610,092
354,416

Debtors: amounts falling due within one year
 7 
540,880
837,281

Cash at bank and in hand
 8 
250,011
171,991

  
1,400,983
1,363,688

Creditors: amounts falling due within one year
 9 
(1,961,398)
(2,723,224)

Net current liabilities
  
 
 
(560,415)
 
 
(1,359,536)

Total assets less current liabilities
  
2,648,233
1,121,888

Creditors: amounts falling due after more than one year
 10 
(1,501,349)
-

  

Net assets
  
1,146,884
1,121,888


Capital and reserves
  

Called up share capital 
  
75
150

Capital redemption reserve
  
75
-

Profit and loss account
  
1,146,734
1,121,738

  
1,146,884
1,121,888


Page 1

 
THORNE BARTON ESTATES LIMITED
REGISTERED NUMBER: 01787741
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 October 2023.




................................................
P MacGregor
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THORNE BARTON ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Thorne Barton Estates Limited is a company limited by shares, incorporated in England and Wales.
The principal activity of the company is that of property developments.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
THORNE BARTON ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss 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.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance.
Motor vehicles
-
25%
reducing balance.
Office equipment
-
10%
reducing balance.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
THORNE BARTON ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in
Page 5

 
THORNE BARTON ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.14
Financial instruments (continued)

case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
140,123
21,880
5,086
167,089



At 31 December 2022

140,123
21,880
5,086
167,089



Depreciation


At 1 January 2022
130,233
20,238
5,086
155,557


Charge for the year on owned assets
2,474
411
-
2,885



At 31 December 2022

132,707
20,649
5,086
158,442



Net book value



At 31 December 2022
7,416
1,231
-
8,647



At 31 December 2021
9,890
1,642
-
11,532

Page 6

 
THORNE BARTON ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2022
1



At 31 December 2022
1





6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2022
2,469,891


Surplus on revaluation
730,109



At 31 December 2022
3,200,000

The 2022 valuations were made by the director, on an open market value for existing use basis.





7.


Debtors

2022
2021
£
£


Trade debtors
274,534
298,931

Amounts owed by group undertakings
2,790
2,790

Other debtors
263,556
535,560

540,880
837,281


Page 7

 
THORNE BARTON ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
250,011
171,989

Less: bank overdrafts
(105,850)
(105,337)

144,161
66,652



9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
105,850
105,337

Bank loans
632,393
758,691

Other loans
192,821
927,789

Trade creditors
893,686
632,171

Corporation tax
-
123,963

Other taxation and social security
2,341
107,956

Other creditors
131,557
64,817

Accruals and deferred income
2,750
2,500

1,961,398
2,723,224


Included in other loans is an alleged loan from Airedale Securities Ltd of £nil (2021: £519,760), a company in which former Director C Travers has an interest.


10.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
1,501,349
-

1,501,349
-


Page 8

 
THORNE BARTON ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

11.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
632,393
758,691

Other loans
192,821
927,789


825,214
1,686,480



Amounts falling due after more than 5 years

Bank loans
1,501,349
-

1,501,349
-

2,326,563
1,686,480



12.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
250,011
171,989




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,451 (2021: £nil).


14.


Related party transactions

At the balance sheet date the company owed £121,255 (2021: was owed £130,053 by) to companies under common directorship.

 
Page 9