Registered number
10032880
Thornbury Financial Services Limited
Filleted Accounts
31 December 2023
Cross & Bowen
Chartered Certified Accountants
Riverside House
Normandy Road
Swansea
SA1 2JA
Thornbury Financial Services Limited
Registered number: 10032880
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 461,557 511,849
Current assets
Cash at bank and in hand 5,048 16,904
Creditors: amounts falling due within one year 4 (12,352) (9,502)
Net current (liabilities)/assets (7,304) 7,402
Total assets less current liabilities 454,253 519,251
Provisions for liabilities - (12,171)
Net assets 454,253 507,080
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 5 (26,162) 65,084
Profit and loss account 479,415 440,996
Shareholders' funds 454,253 507,080
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G.R. Stokes
Director
Approved by the board on 11 August 2024
Thornbury Financial Services Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Income
The company is an investment company and derives its income from dividends and interest received from listed investments.
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments 2023 2022
£ £
Fair value
At 1 January 2023 511,849 265,829
Capital invested 835 230,827
Realised gains reinvested 11,346 6,455
Investment income reinvested 29,608 12,243
Admin fees charged (835) (827)
Revaluation to market value (91,246) (2,678)
At 31 December 2023 461,557 511,849
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 59 39
Other creditors 12,293 9,463
12,352 9,502
5 Revaluation reserve 2023 2022
£ £
At 1 January 2023 65,084 67,762
Loss on revaluation of investments (91,246) (2,678)
At 31 December 2023 (26,162) 65,084
6 Other information
Thornbury Financial Services Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
1 Chatsworth Park
Thornbury
Bristol
BS35 1JF
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