Thames Vale Properties Limited 02298384 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Property development and letting Digita Accounts Production Advanced 6.30.9574.0 true true 02298384 2023-01-01 2023-12-31 02298384 2023-12-31 02298384 core:OtherReservesSubtotal 2023-12-31 02298384 core:RetainedEarningsAccumulatedLosses 2023-12-31 02298384 core:ShareCapital 2023-12-31 02298384 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02298384 bus:SmallEntities 2023-01-01 2023-12-31 02298384 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02298384 bus:FullAccounts 2023-01-01 2023-12-31 02298384 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02298384 bus:RegisteredOffice 2023-01-01 2023-12-31 02298384 bus:Director1 2023-01-01 2023-12-31 02298384 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02298384 core:ComputerEquipment 2023-01-01 2023-12-31 02298384 core:FurnitureFittings 2023-01-01 2023-12-31 02298384 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-01 2023-12-31 02298384 countries:EnglandWales 2023-01-01 2023-12-31 02298384 2022-12-31 02298384 2022-01-01 2022-12-31 02298384 2022-12-31 02298384 core:OtherReservesSubtotal 2022-12-31 02298384 core:RetainedEarningsAccumulatedLosses 2022-12-31 02298384 core:ShareCapital 2022-12-31 02298384 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02298384

Thames Vale Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Thames Vale Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Thames Vale Properties Limited

(Registration number: 02298384)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

2,556

-

Investment property

4

5,105,000

5,046,090

 

5,107,556

5,046,090

Current assets

 

Debtors

5

12,328

112,259

Cash at bank and in hand

 

709,708

739,992

 

722,036

852,251

Creditors: Amounts falling due within one year

6

(65,875)

(132,360)

Net current assets

 

656,161

719,891

Total assets less current liabilities

 

5,763,717

5,765,981

Provisions for liabilities

(263,682)

(248,954)

Net assets

 

5,500,035

5,517,027

Capital and reserves

 

Called up share capital

155,000

155,000

Other reserves

1,532,948

1,488,765

Profit and loss account

3,812,087

3,873,262

Total equity

 

5,500,035

5,517,027

 

Thames Vale Properties Limited

(Registration number: 02298384)
Balance Sheet as at 31 December 2023

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 July 2024
 

.........................................
Mr BP Eighteen
Director

 

Thames Vale Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Chestnuts
Tydehams
Newbury
Berkshire
RG14 6JT
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Where deferred tax arises on fair value adjustments the appropriate amount of deferred tax is also moved to non distributable reserves.

 

Thames Vale Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on cost

Computer equipment

25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually and uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

Changes in fair value are recognised in profit or loss, but the equivalent value is also moved to non distributable reserves on the balance sheet.

Deferred taxation is provided, on these gains in value, at the tax rate expected to apply when these properties are sold. This deferred tax is recognised in the profit and loss account, but the equivalent value is also moved to non distributable reserves on the balance sheet.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Thames Vale Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 January

5,046,090

Fair value adjustments

58,910

At 31 December

5,105,000

The Directors have considered the market value of the Investment Properties by reference to the market values of similar properties in the same area and same condition and the property valuation is based on a review of the portfolio as at 31st December by the Directors. An independent property valuation, by an appropriately qualified valuer, has not been carried out at 31st December 2023.

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

2,594

3,140

Amounts owed by related parties

7

-

100,000

Prepayments

 

6,774

6,494

Other debtors

 

2,960

2,625

   

12,328

112,259

 

Thames Vale Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

27

27

Trade creditors

 

10,790

9,913

Amounts owed to related undertakings and related parties

7

3,289

861

Taxation and social security

 

32,836

90,680

Other creditors

 

18,933

30,879

 

65,875

132,360

Secured debt

Lloyds Bank Plc has a charge over specific investment properties to secure a bank overdraft facility which is currently undrawn (2022 £0).

7

Related party transactions

Summary of transactions with entities with joint control or significant interest

Thames Vale Investments Ltd
 Thames Vale Investments owns 50% (2022 - 40%) of the Share Capital of the company and repaid a loan that it received during 2022 of £100,000 from the company (2022 - £100,000).

Thames Vale Investments Limited is owed £3,289 at 31 December 2023 for purchases it made on behalf of Thames Vale Properties Limited.

The loans carried interest at variable commercial rates.