REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
THOMAS INVESTMENTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
THOMAS INVESTMENTS LIMITED |
THOMAS INVESTMENTS LIMITED (REGISTERED NUMBER: 10773639) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THOMAS INVESTMENTS LIMITED |
Company Information |
for the Year Ended 31 May 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
THOMAS INVESTMENTS LIMITED (REGISTERED NUMBER: 10773639) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Investment property | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Fair value reserve | 12 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds |
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. |
THOMAS INVESTMENTS LIMITED (REGISTERED NUMBER: 10773639) |
Balance Sheet - continued |
31 May 2023 |
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 |
THOMAS INVESTMENTS LIMITED (REGISTERED NUMBER: 10773639) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | Statutory information |
Thomas Investments Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
As at 31 May 2023 the company had net current liabilities of £22,293 (2022 - £44,927.). The company is dependent on the continued support of the directors who have confirmed their commitment to continue to provide the necessary support. |
On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the directors were not to provide further support. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
Computer Equipment 33% straight line |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. |
Taxation |
Taxation for the year comprises current and deferred 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 or deferred 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. |
Deferred 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. |
THOMAS INVESTMENTS LIMITED (REGISTERED NUMBER: 10773639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
3. | Accounting policies - continued |
Investment property |
Investment properties are shown at fair value. Any surplus or deficit arising from changes in fair value is charged or credited to the profit and loss account for the period and then transferred to a non-distributable reserve. |
Although this policy is in accordance with FRS 102 it is a departure from the general requirement of the Companies Act for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. |
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 administrative expenses. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
4. | Employees and directors |
The average number of employees during the year was |
5. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
Additions |
At 31 May 2023 |
Depreciation |
Charge for year |
At 31 May 2023 |
Net book value |
At 31 May 2023 |
Included in cost of land and buildings is freehold land of £ 125,000 which is not depreciated. |
6. | Investment property |
Total |
£ |
Fair value |
At 1 June 2022 |
Revaluations | 5,000 |
At 31 May 2023 |
Net book value |
At 31 May 2023 |
At 31 May 2022 |
THOMAS INVESTMENTS LIMITED (REGISTERED NUMBER: 10773639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
6. | Investment property - continued |
Fair value at 31 May 2023 is represented by: |
£ |
Valuation in 2018 | 125,000 |
Valuation in 2019 | 2,500 |
Valuation in 2020 | 7,500 |
Valuation in 2021 | 3,000 |
Valuation in 2022 | 7,000 |
Valuation in 2023 | 5,000 |
150,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 121,958 | 121,958 |
Investment property was valued on an open market basis on 31 May 2023 by the directors . |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
10. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The bank loan is secured on the investment property. |
THOMAS INVESTMENTS LIMITED (REGISTERED NUMBER: 10773639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
12. | Reserves |
Fair |
value |
reserve |
£ |
At 1 June 2022 |
Fair value adjustment | 4,050 |
At 31 May 2023 |