Company registration number 11325581 (England and Wales)
118 THORNTON ROAD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
118 THORNTON ROAD LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 5
118 THORNTON ROAD LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 118 THORNTON ROAD LTD FOR THE YEAR ENDED 30 APRIL 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 118 Thornton Road Ltd for the year ended 30 April 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of 118 Thornton Road Ltd, as a body, in accordance with the terms of our engagement letter dated 16 January 2020. Our work has been undertaken solely to prepare for your approval the financial statements of 118 Thornton Road Ltd and state those matters that we have agreed to state to the board of directors of 118 Thornton Road Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 118 Thornton Road Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that 118 Thornton Road Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 118 Thornton Road Ltd. You consider that 118 Thornton Road Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 118 Thornton Road Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Waters & Atkinson
3 October 2023
Chartered Accountants
The Old Court House
Clark Street
Morecambe
Lancashire
LA4 5HR
118 THORNTON ROAD LTD
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
245,037
244,507
Current assets
Cash at bank and in hand
46,337
32,190
Creditors: amounts falling due within one year
(11,744)
(8,280)
Net current assets
34,593
23,910
Total assets less current liabilities
279,630
268,417
Creditors: amounts falling due after more than one year
(230,000)
(230,000)
Net assets
49,630
38,417
Capital and reserves
Called up share capital
101
101
Profit and loss reserves
49,529
38,316
Total equity
49,630
38,417

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

118 THORNTON ROAD LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 3 October 2023
Mr PB Hart
Director
Company Registration No. 11325581
118 THORNTON ROAD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
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1
Accounting policies
Company information

118 Thornton Road Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Old Court House, Clark Street, Morecambe, Lancashire, LA4 5HR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes,

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

118 THORNTON ROAD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 1 May 2022
244,507
Additions
530
At 30 April 2023
245,037
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