Registered number
02245932
Thoresby Developments Limited
Filleted Accounts
31 March 2023
Thoresby Developments Limited
Registered number: 02245932
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 233,929 233,929
Current assets
Cash at bank and in hand 21,155 22,023
Creditors: amounts falling due within one year 4 (1,763) (3,645)
Net current assets 19,392 18,378
Net assets 253,321 252,307
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 6 138,747 138,747
Profit and loss account 113,574 112,560
Shareholders' funds 253,321 252,307
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J Hollingsworth
Director
Approved by the board on 1 November 2023
Thoresby Developments Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the gross value of furnished holiday lettings and rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 230,000 20,457 250,457
At 31 March 2023 230,000 20,457 250,457
Depreciation
At 1 April 2022 - 16,528 16,528
At 31 March 2023 - 16,528 16,528
Net book value
At 31 March 2023 230,000 3,929 233,929
At 31 March 2022 230,000 3,929 233,929
Freehold land and buildings: 2023 2022
£ £
Historical cost 91,252 91,252
Cumulative depreciation based on historical cost - -
91,252 91,252
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 416
Taxation and social security costs 238 2,054
Other creditors 1,525 1,175
1,763 3,645
5 Loans 2023 2022
£ £
Creditors include:
Secured bank loan - 416
6 Revaluation reserve 2023 2022
£ £
At 1 April 2022 138,747 138,747
At 31 March 2023 138,747 138,747
7 Other information
The company is a private company limited by shares and incorporated in Wales. Its registered office is:
44 Edward VII Avenue
Newport
South Wales
NP20 4NH
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