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COMPANY REGISTRATION NUMBER: 06770025
Edward Thomas Property Limited
Filleted Unaudited Abridged Financial Statements
31 March 2024
Edward Thomas Property Limited
Abridged Financial Statements
Year Ended 31 March 2024
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Edward Thomas Property Limited
Abridged Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed Assets
Investments
5
963,281
848,087
Current Assets
Debtors
1,380
3,802
Cash at bank and in hand
717
5,500
-------
-------
2,097
9,302
Creditors: amounts falling due within one year
776,369
602,558
---------
---------
Net Current Liabilities
774,272
593,256
---------
---------
Total Assets Less Current Liabilities
189,009
254,831
Creditors: amounts falling due after more than one year
153,018
204,547
---------
---------
Net Assets
35,991
50,284
---------
---------
Capital and Reserves
Called up share capital
7
100
100
Profit and loss account
35,891
50,184
--------
--------
Shareholders Funds
35,991
50,284
--------
--------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Edward Thomas Property Limited
Abridged Statement of Financial Position (continued)
31 March 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 24 July 2024 , and are signed on behalf of the board by:
Mr S E Hird
Director
Company registration number: 06770025
Edward Thomas Property Limited
Notes to the Abridged Financial Statements
Year Ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rivermead, Tanworth Lane, Henley-In-Arden, Warwickshire, B95 5RB.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment property
Investment property is carried at fair value determined annually. No depreciation is provided. Changes in fair value are recognised in the profit and loss for the period.
Financial instruments
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Investments
Investment property
£
Cost
At 1 April 2023
848,087
Additions
115,194
---------
At 31 March 2024
963,281
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
963,281
---------
At 31 March 2023
848,087
---------
The fair value of the properties were made in the year by the directors, who have experience in the location and class of properties, on an open market value for existing use basis. No further input from an independent valuer was deemed to be required.
6. Secured liabilities
The aggregate amount of secured liabilities, secured on the assets of the company at the year end were £209,142 (2023: £258,903).
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
8. Related party transactions
During the period the company provided and received short term loans from related parties. The balances outstanding due from/(to) related parties at 31 March 2024 are as follows:
2024 2023
£ £
Amounts owed from related parties 3,600
Amounts owed to related parties 348,008
All outstanding balances with related parties are unsecured, interest free, and repayable on demand.
2024 2023
£ £
Amounts owed to pension scheme 209,142 258,903
The company directors are also the trustees of the Edward Thomas Property Pension Scheme. The outstanding balance is secured, interest bearing and repayable over 5 years.