REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st December 2023 |
for |
THAMES CONTEMPORARY HOMES LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st December 2023 |
for |
THAMES CONTEMPORARY HOMES LIMITED |
THAMES CONTEMPORARY HOMES LIMITED (REGISTERED NUMBER: 02966944) |
Contents of the Financial Statements |
for the year ended 31st December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
THAMES CONTEMPORARY HOMES LIMITED |
Company Information |
for the year ended 31st December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Suffolk House |
George Street |
Croydon |
Surrey |
CR0 0YN |
THAMES CONTEMPORARY HOMES LIMITED (REGISTERED NUMBER: 02966944) |
Statement of Financial Position |
31st December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Inventories | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THAMES CONTEMPORARY HOMES LIMITED (REGISTERED NUMBER: 02966944) |
Notes to the Financial Statements |
for the year ended 31st December 2023 |
1. | STATUTORY INFORMATION |
The company is a private company limited by share and is registered in England and Wales. The address of the registered office is North Farm Industrial Estate, Tunbridge Wells, Longfield Road, Kent, TN2 3EY. |
The financial statements have been prepared in pound sterling, the functional currency of the company, and monetary amounts in these financial statements have been rounded to the nearest £. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises: |
- | Gross rental income receivable; and |
- | The value of stock sold during the year. |
Revenue from sales of development properties is recognised on completion of contracts. Rental income is recognised when due. Any amounts received in advance or arrears are included in deferred or accrued income as applicable. |
Stocks |
Stocks are stated at the lower of cost and net relisable value, being the estimated selling price less costs to complete and sell. Cost is based on the costs of developing a site, these costs are then allocated to individual plots to achieve a consistent margin for the site. Work in progress and development property include labour and attributable overheads. |
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
THAMES CONTEMPORARY HOMES LIMITED (REGISTERED NUMBER: 02966944) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Finance and borrowing costs |
Finance costs are charged to the income statement over the term of the debt using the effective interest method, so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
All borrowing costs are recognised in the income statement in the year in which they are incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVENTORIES |
31.12.23 | 31.12.22 |
£ | £ |
Properties |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Tax |
Other creditors |
Accruals and deferred income |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
THAMES CONTEMPORARY HOMES LIMITED (REGISTERED NUMBER: 02966944) |
Notes to the Financial Statements - continued |
for the year ended 31st December 2023 |
7. | CALLED UP SHARE CAPITAL - continued |
There are no restrictions on the distribution of dividends and the repayment of capital. |
8. | AUDITORS' INFORMATION |
The audit report provided to the members of Thames Contemporary Homes Limited on the financial statements for the year ended 31st December 2023 was not qualified. |
The audit report was signed by Alasdair Weaks (Senior Statutory Auditor) for and on behalf of Simpson Wreford & Partners, Chartered Accountants and Statutory Auditor. |
9. | RELATED PARTY DISCLOSURES |
Included within other debtors is an amount of £440,000 (2022 - £Nil) owed to the company by Thames Contemporary Homes (Wimbledon) Limited, a company under common control. This amount is interest free and repayable on demand. |
In the prior year an amount of £395,000 was included in other debtors, owed to the company by T S S Group Limited, a company under common control. This has been repaid within the year. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr V Khanna, a director. |