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REGISTERED NUMBER: 04613457 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Thorne Estates Limited

Thorne Estates Limited (Registered number: 04613457)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thorne Estates Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mrs M A Thorne
H T Thorne



SECRETARY: H T Thorne



REGISTERED OFFICE: Earlsdale House
Pontesford
Shrewsbury
Shropshire
SY5 0UJ



REGISTERED NUMBER: 04613457 (England and Wales)



ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: Barclays Bank Plc
3 King Street
Ludlow
Shropshire
SY8 1AJ

Thorne Estates Limited (Registered number: 04613457)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 275,001 1
Investment property 5 3,170,257 3,102,033
3,445,258 3,102,034

CURRENT ASSETS
Debtors 6 19,389 3,614
Cash at bank 109,888 229,066
129,277 232,680
CREDITORS
Amounts falling due within one year 7 766,388 736,094
NET CURRENT LIABILITIES (637,111 ) (503,414 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,808,147

2,598,620

CREDITORS
Amounts falling due after more than
one year

8

(1,257,000

)

(1,257,000

)

PROVISIONS FOR LIABILITIES (82,169 ) (49,486 )
NET ASSETS 1,468,978 1,292,134

Thorne Estates Limited (Registered number: 04613457)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 328,676 260,452
Retained earnings 1,140,202 1,031,582
1,468,978 1,292,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





H T Thorne - Director


Thorne Estates Limited (Registered number: 04613457)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Thorne Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Thorne Estates Limited (Registered number: 04613457)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023 1 - 1
Additions - 275,000 275,000
At 31 December 2023 1 275,000 275,001
NET BOOK VALUE
At 31 December 2023 1 275,000 275,001
At 31 December 2022 1 - 1

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 3,102,033
Revaluations 68,224
At 31 December 2023 3,170,257
NET BOOK VALUE
At 31 December 2023 3,170,257
At 31 December 2022 3,102,033

Included in cost or revaluation of investment property is freehold land of £1,390,390 (2022 - £1,322,166) which is not depreciated.

Thorne Estates Limited (Registered number: 04613457)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2014 480,428
Valuation in 2015 39,186
Valuation in 2016 440,575
Valuation in 2017 5,630
Valuation in 2018 468,168
Valuation in 2019 839,818
Valuation in 2020 24,882
Valuation in 2021 646,700
Valuation in 2022 156,646
Valuation in 2023 68,224
3,170,257

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,775,580 2,775,580

Investment property was valued on an open market basis on 31 December 2023 by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,957 -
Other debtors 12,432 3,614
19,389 3,614

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 46,268 40,008
Other creditors 720,120 696,086
766,388 736,094

Thorne Estates Limited (Registered number: 04613457)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 1,257,000 1,257,000

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023 260,452
Reserve transfer 68,224

At 31 December 2023 328,676

10. RELATED PARTY DISCLOSURES

Included in creditors due within one year, are amounts totalling £572,500 (2022 - £676,178) due to the directors of the company. These balances are repayable on demand. No interest was charged on these balances during the year.

Included in creditors due after more than one year are amounts totalling £1,257,000 (2022 - £1,257,000) due to connected persons of the directors.
These balances are repayable on demand. No interest was charged on these balances during the year.