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Company Registration No. 04701915 (England and Wales)
Thornton Heights Limited Unaudited accounts for the year ended 31 October 2023
Thornton Heights Limited Unaudited accounts Contents
Page
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Thornton Heights Limited Company Information for the year ended 31 October 2023
Director
Richard Brian Peall
Company Number
04701915 (England and Wales)
Registered Office
Woodhall Spa Road Thornton Horncastle Lincolnshire LN9 5JU
Accountants
CDM Accountants Limited 28 Tytton Lane East Wyberton Boston Lincolnshire PE21 7HW
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Thornton Heights Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
317,237 
319,358 
Current assets
Debtors
418 
600 
Cash at bank and in hand
5,303 
23,754 
5,721 
24,354 
Creditors: amounts falling due within one year
(117,033)
(125,284)
Net current liabilities
(111,312)
(100,930)
Total assets less current liabilities
205,925 
218,428 
Creditors: amounts falling due after more than one year
(47,444)
(54,895)
Provisions for liabilities
Deferred tax
(1,294)
(1,535)
Net assets
157,187 
161,998 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
157,087 
161,898 
Shareholders' funds
157,187 
161,998 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 July 2024 and were signed on its behalf by
Richard Brian Peall Director Company Registration No. 04701915
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Thornton Heights Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Thornton Heights Limited is a private company, limited by shares, registered in England and Wales, registration number 04701915. The registered office is Woodhall Spa Road, Thornton, Horncastle, Lincolnshire, LN9 5JU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Not depreciated
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Thornton Heights Limited Notes to the Accounts for the year ended 31 October 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2022
10,000 
At 31 October 2023
10,000 
Amortisation
At 1 November 2022
10,000 
At 31 October 2023
10,000 
Net book value
At 31 October 2023
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 November 2022
310,429 
21,786 
5,940 
6,555 
344,710 
Disposals
- 
(1,656)
- 
- 
(1,656)
At 31 October 2023
310,429 
20,130 
5,940 
6,555 
343,054 
Depreciation
At 1 November 2022
- 
15,111 
4,530 
5,711 
25,352 
Charge for the year
- 
888 
352 
126 
1,366 
On disposals
- 
(901)
- 
- 
(901)
At 31 October 2023
- 
15,098 
4,882 
5,837 
25,817 
Net book value
At 31 October 2023
310,429 
5,032 
1,058 
718 
317,237 
At 31 October 2022
310,429 
6,675 
1,410 
844 
319,358 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
418 
600 
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Thornton Heights Limited Notes to the Accounts for the year ended 31 October 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
9,165 
9,165 
Trade creditors
600 
600 
Taxes and social security
- 
6,471 
Loans from directors
106,092 
107,908 
Accruals
1,176 
1,140 
117,033 
125,284 
Bank loans totalling £6,765 (2022 - £6,765) are secured via a fixed and floating charge on the freehold property.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
47,444 
54,895 
Bank loans totalling £43,244 (2022 - £48,295) are secured via a fixed and floating charge on the freehold property. Bank loans include aggregate amounts of £16,185 (2022 - £21,237) which fall due after five years and are payable by instalments.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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