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REGISTERED NUMBER: 02966944 (England and Wales)



















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: V Khanna
A E Khanna
K P Khanna
N N Khanna



SECRETARY: K Jeyavarathan



REGISTERED OFFICE: North Farm Industrial Estate
Longfield Road
Tunbridge Wells
Kent
TN2 3EY



REGISTERED NUMBER: 02966944 (England and Wales)



SENIOR STATUTORY AUDITOR: Alasdair Weaks



AUDITORS: Simpson Wreford & Partners
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 4 913,650 913,650
Debtors 5 443,269 397,017
Cash at bank 14,036 7,782
1,370,955 1,318,449
CREDITORS
Amounts falling due within one year 6 22,214 16,694
NET CURRENT ASSETS 1,348,741 1,301,755
TOTAL ASSETS LESS CURRENT LIABILITIES 1,348,741 1,301,755

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,348,641 1,301,655
SHAREHOLDERS' FUNDS 1,348,741 1,301,755

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 20th September 2024 and were signed on its behalf by:





K P Khanna - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 913,650 913,650

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 483 81
Other debtors 440,000 395,000
Prepayments and accrued income 2,786 1,936
443,269 397,017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 53 499
Tax 14,450 8,884
Other creditors 6,411 6,111
Accruals and deferred income 1,300 1,200
22,214 16,694

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 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.