IRIS Accounts Production v23.3.1.45 02178825 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021788252022-03-31021788252023-03-31021788252022-04-012023-03-31021788252021-03-31021788252021-04-012022-03-31021788252022-03-3102178825ns10:Originalns15:EnglandWales2022-04-012023-03-3102178825ns14:PoundSterlingns10:Original2022-04-012023-03-3102178825ns10:Originalns10:Director12022-04-012023-03-3102178825ns10:Original2022-04-012023-03-3102178825ns10:Original2023-03-3102178825ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3102178825ns10:Originalns10:SmallEntities2022-04-012023-03-3102178825ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3102178825ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3102178825ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3102178825ns10:Originalns10:FullAccounts2022-04-012023-03-3102178825ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3102178825ns10:Originalns10:Director32022-04-012023-03-3102178825ns10:CompanySecretary1ns10:Original2022-04-012023-03-3102178825ns10:Originalns10:RegisteredOffice2022-04-012023-03-3102178825ns10:Original2022-03-3102178825ns10:Originalns5:CurrentFinancialInstruments2023-03-3102178825ns10:Originalns5:CurrentFinancialInstruments2022-03-3102178825ns5:ShareCapitalns10:Original2023-03-3102178825ns5:ShareCapitalns10:Original2022-03-3102178825ns10:Originalns5:SharePremium2023-03-3102178825ns10:Originalns5:SharePremium2022-03-3102178825ns10:Originalns5:RevaluationReserve2023-03-3102178825ns10:Originalns5:RevaluationReserve2022-03-3102178825ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3102178825ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3102178825ns10:Originalns5:PlantMachinery2022-04-012023-03-3102178825ns10:Original2021-04-012022-03-3102178825ns10:Originalns5:PlantMachinery2022-03-3102178825ns10:Originalns5:PlantMachinery2023-03-3102178825ns10:Originalns5:PlantMachinery2022-03-3102178825ns10:Original2022-03-3102178825ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3102178825ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3102178825ns10:Originalns10:OrdinaryShareClass12023-03-3102178825ns10:Original1ns10:Director12022-03-3102178825ns10:Original1ns10:Director12021-03-3102178825ns10:Original1ns10:Director12022-04-012023-03-3102178825ns10:Original1ns10:Director12021-04-012022-03-3102178825ns10:Original1ns10:Director12023-03-3102178825ns10:Original1ns10:Director12022-03-31
REGISTERED NUMBER: 02178825 (England and Wales)















THORNFIELD (WHITLEY) ESTATES COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






THORNFIELD (WHITLEY) ESTATES COMPANY LTD (REGISTERED NUMBER: 02178825)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THORNFIELD (WHITLEY) ESTATES COMPANY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: B J Jackson
Mrs P James





SECRETARY: B J Jackson





REGISTERED OFFICE: Trelales
Shire Newton
Chepstow
Gwent
NP16 6RL





REGISTERED NUMBER: 02178825 (England and Wales)

THORNFIELD (WHITLEY) ESTATES COMPANY LTD (REGISTERED NUMBER: 02178825)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 44
Investment property 5 625,000 625,000
625,000 625,044

CURRENT ASSETS
Debtors 6 6,468 5,565
Cash at bank 48,043 50,887
54,511 56,452
CREDITORS
Amounts falling due within one year 7 (13,898 ) (11,586 )
NET CURRENT ASSETS 40,613 44,866
TOTAL ASSETS LESS CURRENT LIABILITIES 665,613 669,910

PROVISIONS FOR LIABILITIES (20,776 ) (20,776 )
NET ASSETS 644,837 649,134

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Share premium 251,832 251,832
Revaluation reserve 331,039 331,039
Retained earnings 60,966 65,263
SHAREHOLDERS' FUNDS 644,837 649,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

THORNFIELD (WHITLEY) ESTATES COMPANY LTD (REGISTERED NUMBER: 02178825)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





B J Jackson - Director


THORNFIELD (WHITLEY) ESTATES COMPANY LTD (REGISTERED NUMBER: 02178825)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Thornfield (Whitley) Estates Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:

Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.

Interest receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


THORNFIELD (WHITLEY) ESTATES COMPANY LTD (REGISTERED NUMBER: 02178825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Leases
Rental income receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 1,794
DEPRECIATION
At 1 April 2022 1,750
Charge for year 44
At 31 March 2023 1,794
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 44

THORNFIELD (WHITLEY) ESTATES COMPANY LTD (REGISTERED NUMBER: 02178825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 625,000
NET BOOK VALUE
At 31 March 2023 625,000
At 31 March 2022 625,000

The directors are of the opinion that the fair value of the investment property as at 31 March 2023 accords to value shown on the balance sheet, being £625,000. The value is based on an external valuation in 2022.

The historical cost of the investment property as at 31 March 2023 was £273,185 (2022 - £273,185).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,085 4,456
Directors' current accounts - 11
Prepayments and accrued income 1,383 1,098
6,468 5,565

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 7,663 5,476
Tenant deposit bonds 100 100
Accruals and deferred income 6,135 6,010
13,898 11,586

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

THORNFIELD (WHITLEY) ESTATES COMPANY LTD (REGISTERED NUMBER: 02178825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
B J Jackson
Balance outstanding at start of year 11 -
Amounts advanced - 11
Amounts repaid (11 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 11

The loan has been provided interest free and is repayable on demand.