Registered number
04470239
Thorn Kingson Developments Limited
Filleted Accounts
30 November 2023
Thorn Kingson Developments Limited
Registered number: 04470239
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 1,300,000 980,522
Current assets
Debtors 4 139 982
Cash at bank and in hand 3,998 4,405
4,137 5,387
Creditors: amounts falling due within one year 5 (75,484) (824,728)
Net current liabilities (71,347) (819,341)
Total assets less current liabilities 1,228,653 161,181
Creditors: amounts falling due after more than one year 6 (863,051) -
Provisions for liabilities (108,500) (42,750)
Net assets 257,102 118,431
Capital and reserves
Fair value reserve 8 325,566 182,024
Called up share capital 9 2 2
Profit and loss account (68,466) (63,595)
Shareholder's funds 257,102 118,431
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
A K Verma
Director
Approved by the board on 23 August 2024
Thorn Kingson Developments Limited
Notes to the Accounts
for the year ended 30 November 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).

The accounts are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment properties No depreciation charged
Plant and machinery 3 years straight line
Investment properties
Investment properties which are properties held to earn rentals and/or for capital appreciation are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value.

Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period which they arise.

Investment properties whose fair value cannot be reliably measured without undue cost or effort on an on-going basis are included in property, plant and equipment at cost less accumulated depreciation and accumulated impairment losses.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties Plant and machinery Total
£ £ £
Cost
At 1 December 2022 980,000 1,717 981,717
Additions 110,708 - 110,708
Surplus on revaluation 209,292 - 209,292
At 30 November 2023 1,300,000 1,717 1,301,717
Depreciation
At 1 December 2022 - 1,195 1,195
Charge for the year - 522 522
At 30 November 2023 - 1,717 1,717
Net book value
At 30 November 2023 1,300,000 - 1,300,000
At 30 November 2022 980,000 522 980,522
Investment property: 2023 2022
£ £
Historical cost 865,933 755,225
Cumulative depreciation based on historical cost - -
865,933 755,225
Investment properties have been valued by the director at their market value at the balance sheet date.
4 Debtors 2023 2022
£ £
Prepayments and accrued income - 568
Other debtors 139 414
139 982
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 599
Secured loans - 572,924
Accruals and deferred income 1,150 2,375
Other creditors 74,334 248,830
75,484 824,728
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 863,051 -
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 863,051 -
Secured loans 863,051 572,924
The loan relates to a mortgage secured by a fixed legal charge over the investment properties.
8 Fair value reserve 2023 2022
£ £
At 1 December 2022 182,024 153,159
Gain on fair value adjustment 209,292 35,615
Deferred taxation arising on fair value adjustment (65,750) (6,750)
At 30 November 2023 325,566 182,024
9 Share capital 2023 2022
£ £
Allotted, called up and fully paid:
Ordinary shares 2 2
10 Other information
Thorn Kingson Developments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
143 Quinton Lane
Quinton
Birmingham
West Midlands
B32 2TY
Its registered number is: 04470239
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