Company registration number 04708528 (England and Wales)
THIRSK HALL PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
THIRSK HALL PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THIRSK HALL PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
354,091
354,091
Current assets
Debtors
4
2,009
24
Cash at bank and in hand
36,928
35,921
38,937
35,945
Creditors: amounts falling due within one year
5
(290,388)
(299,284)
Net current liabilities
(251,451)
(263,339)
Net assets
102,640
90,752
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
102,639
90,751
Total equity
102,640
90,752

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

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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.

The financial statements were approved by the board of directors and authorised for issue on 28 September 2023 and are signed on its behalf by:
Mr J Bell
Mrs D Bell Gerrish
Director
Director
Company Registration No. 04708528
THIRSK HALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Thirsk Hall Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Thirsk Hall, Thirsk, North Yorkshire, YO7 1PL.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is dependent on loans provided by a director-shareholder and a company controlled by a director which are included within current liabilities. The directors have confirmed their intention for this continuing support to remain in place. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents rents received on the company's investment properties. This turnover is recognised when receivable by the company.

1.4
Investment properties

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. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

THIRSK HALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised 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. Financial liabilities classified as payable within one year are not amortised.

1.6
Taxation

The tax expense represents the tax currently payable.

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.

2
Employees

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

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
354,091

The investment properties are stated at their cost at acquisition. The directors have considered the fair value of the properties at the year-end with reference to market evidence for similar properties in the area and are satisfied it is not materially different to the historic cost.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
2,009
24
THIRSK HALL PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
522
Taxation and social security
2,786
1,228
Other creditors
287,602
297,534
290,388
299,284
6
Related party transactions
Transactions with related parties

Included in other creditors is a loan from a director of £266,846 (2022 - £276,846).

 

The loan is unsecured, interest free and repayable on demand.

2023-03-312022-04-01false28 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr J BellMrs D Bell GerrishMr J Bell047085282022-04-012023-03-31047085282023-03-31047085282022-03-3104708528core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3104708528core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3104708528core:CurrentFinancialInstruments2023-03-3104708528core:CurrentFinancialInstruments2022-03-3104708528core:ShareCapital2023-03-3104708528core:ShareCapital2022-03-3104708528core:RetainedEarningsAccumulatedLosses2023-03-3104708528core:RetainedEarningsAccumulatedLosses2022-03-3104708528bus:Director12022-04-012023-03-3104708528bus:Director22022-04-012023-03-31047085282021-04-012022-03-31047085282022-03-3104708528bus:PrivateLimitedCompanyLtd2022-04-012023-03-3104708528bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104708528bus:FRS1022022-04-012023-03-3104708528bus:AuditExemptWithAccountantsReport2022-04-012023-03-3104708528bus:CompanySecretary12022-04-012023-03-3104708528bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP