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Company registration number: 01701301
Thomas Wright (Holdings) Limited
Unaudited financial statements
For the year ended
31 December 2023
Thomas Wright (Holdings) Limited
Contents
Statement of financial position
Notes to the financial statements
Thomas Wright (Holdings) Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Investment property 2,711,000 2,711,000
________ ________
2,711,000 2,711,000
Current assets
Debtors 3 59,501 58,873
Cash at bank and in hand 150,796 119,899
________ ________
210,297 178,772
Creditors: amounts falling due
within one year 4 ( 39,510) ( 44,207)
________ ________
Net current assets 170,787 134,565
________ ________
Total assets less current liabilities 2,881,787 2,845,565
Provisions for liabilities
Deferred taxation ( 365,541) ( 277,811)
________ ________
Net assets 2,516,246 2,567,754
________ ________
Capital and reserves
Called up share capital 100 100
Fair value reserve 5 2,325,815 2,325,815
Profit and loss account 5 190,331 241,839
________ ________
Shareholders funds 2,516,246 2,567,754
________ ________
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 March 2024 , and are signed on behalf of the board by:
Mr B C Wright
Director
Company registration number: 01701301
Thomas Wright (Holdings) Limited
Notes to the financial statements
Year ended 31 December 2023
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Provisions
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
3. Debtors
2023 2022
£ £
Other debtors 59,501 58,873
________ ________
4. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 17,303 7,429
Directors loan accounts 1,550 810
Other creditors 20,657 35,968
________ ________
39,510 44,207
________ ________
5. Reserves
The fair value reserve is in respect of the recognition of unlisted investments at market value. The fair value reserve is non distributable.
6. Related party transactions
Within other debtors, is an amount owed by Thomas Wright & Sons (Norway) AS, a company in which Mr TET Wright is also a director. The balance owing at the year end, 31 December 2023, was £42,833. Within other creditors, is an amount owed to Thomas Wright & Sons (Builders) Limited, a company in which Mr B C Wright , Mrs F M Wright, Miss H C Wright and Dr S M Lloyd-Williams are also directors. The balance owed at the year end, 31 December 2023, was £6,773.
7. Controlling party
The ultimate controlling party is Mr B C Wright by virtue of their majority holding in Thomas Wright Investments (Holdings) Limited.