Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02820689 2022-04-01 2023-03-31 02820689 2021-04-01 2022-03-31 02820689 2023-03-31 02820689 2022-03-31 02820689 c:Director2 2022-04-01 2023-03-31 02820689 d:FurnitureFittings 2022-04-01 2023-03-31 02820689 d:FurnitureFittings 2023-03-31 02820689 d:FurnitureFittings 2022-03-31 02820689 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02820689 d:CurrentFinancialInstruments 2023-03-31 02820689 d:CurrentFinancialInstruments 2022-03-31 02820689 d:Non-currentFinancialInstruments 2023-03-31 02820689 d:Non-currentFinancialInstruments 2022-03-31 02820689 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02820689 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02820689 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 02820689 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 02820689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 02820689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 02820689 d:ShareCapital 2023-03-31 02820689 d:ShareCapital 2022-03-31 02820689 d:RetainedEarningsAccumulatedLosses 2023-03-31 02820689 d:RetainedEarningsAccumulatedLosses 2022-03-31 02820689 c:OrdinaryShareClass1 2022-04-01 2023-03-31 02820689 c:OrdinaryShareClass1 2023-03-31 02820689 c:OrdinaryShareClass1 2022-03-31 02820689 c:FRS102 2022-04-01 2023-03-31 02820689 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 02820689 c:FullAccounts 2022-04-01 2023-03-31 02820689 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02820689 2 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02820689









THORSTONE LAND & PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
THORSTONE LAND & PROPERTY LIMITED
REGISTERED NUMBER: 02820689

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,735
2,590

  
1,735
2,590

Current assets
  

Debtors: amounts falling due within one year
 5 
415,743
571,316

Cash at bank and in hand
 6 
97,343
17,684

  
513,086
589,000

Creditors: amounts falling due within one year
 7 
(633,516)
(612,684)

Net current liabilities
  
 
 
(120,430)
 
 
(23,684)

Total assets less current liabilities
  
(118,695)
(21,094)

Creditors: amounts falling due after more than one year
 8 
(32,500)
(32,500)

  

Net liabilities
  
(151,195)
(53,594)


Capital and reserves
  

Called up share capital 
 10 
300
300

Profit and loss account
  
(151,495)
(53,894)

  
(151,195)
(53,594)


Page 1

 
THORSTONE LAND & PROPERTY LIMITED
REGISTERED NUMBER: 02820689
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The Directors consider 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 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 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 by: 




S J Silverstone
Director

Date: 4 March 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Thorstone Land & Property Limited is a private Company limited by shares and incorporated in England (Registered number 02820689). Its registered office is 104a Park Street, London, United Kingdom, W1K 6NG.

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

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The directors have obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
 
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
2.3

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.4

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:

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.

Page 3

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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:

Fixtures and fittings
-
33%
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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 4

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

Borrowing costs

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

 
2.15

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 reporting date in the countries where the Company operates and generates income.


3.


Employees

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

Page 5

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2022
68,169



At 31 March 2023

68,169



Depreciation


At 1 April 2022
65,579


Charge for the year on owned assets
855



At 31 March 2023

66,434



Net book value



At 31 March 2023
1,735



At 31 March 2022
2,590

Page 6

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
500
-

Other debtors
411,869
568,033

Prepayments and accrued income
3,374
3,283

415,743
571,316



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
97,343
17,684

97,343
17,684



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
15,000

Trade creditors
8,161
10,104

Other taxation and social security
-
2,202

Other creditors
595,434
565,192

Accruals and deferred income
19,921
20,186

633,516
612,684



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
32,500
32,500

32,500
32,500


Page 7

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
15,000


10,000
15,000


Amounts falling due 2-5 years

Bank loans
32,500
32,500


32,500
32,500


42,500
47,500



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



300 (2022 - 300) Ordinary shares of £1.00 each
300
300


Page 8