Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Mrs E Parkhurst J S Payne 13/11/1995 02 September 2024 The principal activity of the Company during the financial year was property investment. 00304514 2023-08-31 00304514 bus:Director2 2023-08-31 00304514 2022-08-31 00304514 core:CurrentFinancialInstruments 2023-08-31 00304514 core:CurrentFinancialInstruments 2022-08-31 00304514 core:Non-currentFinancialInstruments 2023-08-31 00304514 core:Non-currentFinancialInstruments 2022-08-31 00304514 core:ShareCapital 2023-08-31 00304514 core:ShareCapital 2022-08-31 00304514 core:RetainedEarningsAccumulatedLosses 2023-08-31 00304514 core:RetainedEarningsAccumulatedLosses 2022-08-31 00304514 core:InvestmentPropertyIncludedWithinPPE 2022-08-31 00304514 core:PlantMachinery 2022-08-31 00304514 core:FurnitureFittings 2022-08-31 00304514 core:OfficeEquipment 2022-08-31 00304514 core:InvestmentPropertyIncludedWithinPPE 2023-08-31 00304514 core:PlantMachinery 2023-08-31 00304514 core:FurnitureFittings 2023-08-31 00304514 core:OfficeEquipment 2023-08-31 00304514 core:CostValuation 2022-08-31 00304514 core:CostValuation 2023-08-31 00304514 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-08-31 00304514 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-08-31 00304514 bus:OrdinaryShareClass1 2023-08-31 00304514 bus:OrdinaryShareClass2 2023-08-31 00304514 2022-09-01 2023-08-31 00304514 bus:FilletedAccounts 2022-09-01 2023-08-31 00304514 bus:SmallEntities 2022-09-01 2023-08-31 00304514 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 00304514 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 00304514 bus:Director1 2022-09-01 2023-08-31 00304514 bus:Director2 2022-09-01 2023-08-31 00304514 core:PlantMachinery 2022-09-01 2023-08-31 00304514 core:FurnitureFittings 2022-09-01 2023-08-31 00304514 core:OfficeEquipment core:TopRangeValue 2022-09-01 2023-08-31 00304514 2021-09-01 2022-08-31 00304514 core:InvestmentPropertyIncludedWithinPPE 2022-09-01 2023-08-31 00304514 core:OfficeEquipment 2022-09-01 2023-08-31 00304514 core:Subsidiary1 2022-09-01 2023-08-31 00304514 core:Subsidiary1 1 2022-09-01 2023-08-31 00304514 core:Subsidiary1 1 2021-09-01 2022-08-31 00304514 core:Subsidiary2 2022-09-01 2023-08-31 00304514 core:Subsidiary2 1 2022-09-01 2023-08-31 00304514 core:Subsidiary2 1 2021-09-01 2022-08-31 00304514 core:Subsidiary3 2022-09-01 2023-08-31 00304514 core:Subsidiary3 1 2022-09-01 2023-08-31 00304514 core:Subsidiary3 1 2021-09-01 2022-08-31 00304514 core:Non-currentFinancialInstruments 2022-09-01 2023-08-31 00304514 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 00304514 bus:OrdinaryShareClass1 2021-09-01 2022-08-31 00304514 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 00304514 bus:OrdinaryShareClass2 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 00304514 (England and Wales)

TWENTIETH CENTURY INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

TWENTIETH CENTURY INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

TWENTIETH CENTURY INVESTMENTS LIMITED

BALANCE SHEET

As at 31 August 2023
TWENTIETH CENTURY INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 9,185,158 8,357,622
Investments 4 2,118,533 2,118,533
11,303,691 10,476,155
Current assets
Debtors 5 2,380,297 2,247,960
Cash at bank and in hand 24,083 183,367
2,404,380 2,431,327
Creditors: amounts falling due within one year 6 ( 4,018,174) ( 4,111,989)
Net current liabilities (1,613,794) (1,680,662)
Total assets less current liabilities 9,689,897 8,795,493
Creditors: amounts falling due after more than one year 7 ( 1,214,460) ( 1,394,380)
Provision for liabilities ( 616,858) ( 452,508)
Net assets 7,858,579 6,948,605
Capital and reserves
Called-up share capital 8 3,000 3,000
Profit and loss account 7,855,579 6,945,605
Total shareholders' funds 7,858,579 6,948,605

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Twentieth Century Investments Limited (registered number: 00304514) were approved and authorised for issue by the Board of Directors on 02 September 2024. They were signed on its behalf by:

J S Payne
Director
TWENTIETH CENTURY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
TWENTIETH CENTURY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Twentieth Century Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 1 Lansdowne Place, 17 Holdenhurst Road, Bournemouth, Dorset, BH8 8EW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £1,622,283. The Company is supported through loans from the directors both personally and through related company's. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover comprises amounts receivable in respect of rent and service charges.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Investment property not depreciated
Plant and machinery 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 September 2022 8,357,000 215 18,482 18,684 8,394,381
Additions 60,026 0 0 0 60,026
Revaluations 822,738 0 0 0 822,738
Disposals ( 55,115) 0 0 0 ( 55,115)
At 31 August 2023 9,184,649 215 18,482 18,684 9,222,030
Accumulated depreciation
At 01 September 2022 0 22 18,053 18,684 36,759
Charge for the financial year 0 49 64 0 113
At 31 August 2023 0 71 18,117 18,684 36,872
Net book value
At 31 August 2023 9,184,649 144 365 0 9,185,158
At 31 August 2022 8,357,000 193 429 0 8,357,622

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset have been used. If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows: 2023 £3,815,996 2022 £3,811,085

4. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 2,118,533 2,118,533

Investments in subsidiaries

2023
£
Cost
At 01 September 2022 2,118,533
At 31 August 2023 2,118,533
Carrying value at 31 August 2023 2,118,533
Carrying value at 31 August 2022 2,118,533

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.08.2023
Ownership
31.08.2022
Tunbridge Commercial Investments limited Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW Property investment Ordinary 100.00% 100.00%
Javsford Investments limited Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW Property investment Ordinary 100.00% 100.00%
TCI Ltd Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW Property investment Ordinary 100.00% 100.00%

5. Debtors

2023 2022
£ £
Trade debtors 15,908 19,895
Amounts owed by Group undertakings 1,703,483 1,569,725
Amounts owed by related parties 660,906 658,340
2,380,297 2,247,960

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 179,920 168,537
Trade creditors 12,433 11,727
Amounts owed to Group undertakings 549,829 549,829
Corporation tax 75,155 36,983
Other creditors 3,200,837 3,344,913
4,018,174 4,111,989

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 1,214,460 1,394,380

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
40,000 Management shares of £0.05 each ordinary shares of £ 0.05 each 2,000 2,000
3,000 3,000

9. Financial commitments

Other financial commitments

2023 2022
£ £
Commitments under non-cancellable operating leases 24,000 42,000

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Companies under common control amounts owed to the company 660,905 658,339

Transactions with the entity's directors

2023 2022
£ £
E W Parkhurst amounts owed by the company (1,136,967) (1,133,967)
0 0

Interest payable of £170,545 (2022: £142,183) has been recognised in the profit and loss account.
Included in accruals is unpaid interest of £2,012,413 (2022: £2,051,868).

Other related party transactions

2023 2022
£ £
Transactions with subsidiaries 1,703,484 1,569,725

£ 549,829 (2022: £549,829) has been provided against the amounts owed to the company to give a net figure owed to the company of £1,153,655 (2022: £1,019,896).