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REGISTERED NUMBER: 03491846 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Thetford International Properties
Limited

Thetford International Properties
Limited (Registered number: 03491846)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Thetford International Properties
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr J R Ellis
Miss M Ellis



REGISTERED OFFICE: Rymer Point
Bury Road
Thetford
Norfolk
IP24 2PN



REGISTERED NUMBER: 03491846 (England and Wales)



ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR



BANKERS: Barclays Bank PLC
20/21 Cornhill
Bury St Edmunds
Suffolk
IP33 1DY

Thetford International Properties
Limited (Registered number: 03491846)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 160,000 709,998
160,000 709,998

CURRENT ASSETS
Debtors 6 1,137,735 323,819
Cash at bank and in hand 2,299 203,161
1,140,034 526,980
CREDITORS
Amounts falling due within one year 7 793,463 539,271
NET CURRENT ASSETS/(LIABILITIES) 346,571 (12,291 )
TOTAL ASSETS LESS CURRENT LIABILITIES 506,571 697,707

CREDITORS
Amounts falling due after more than one
year

8

-

193,902
NET ASSETS 506,571 503,805

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 67,995 140,844
Retained earnings 438,476 362,861
SHAREHOLDERS' FUNDS 506,571 503,805

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.

Thetford International Properties
Limited (Registered number: 03491846)

Balance Sheet - continued
31 December 2023


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 24 September 2024 and were signed on its behalf by:





Mr J R Ellis - Director


Thetford International Properties
Limited (Registered number: 03491846)

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

1. STATUTORY INFORMATION

Thetford International Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
Having reviewed the projected results and cash flow forecasts of the company the directors are confident that the company will be able to meet its cash obligations in the foreseeable future. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the directors are confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

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

The total turnover for the year has been derived from the principal activity and comprises rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on 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.

Thetford International Properties
Limited (Registered number: 03491846)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment review
At each reporting date fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

Thetford International Properties
Limited (Registered number: 03491846)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 11,720
Disposals (11,720 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 11,720
Eliminated on disposal (11,720 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 709,998
Disposals (549,998 )
At 31 December 2023 160,000
NET BOOK VALUE
At 31 December 2023 160,000
At 31 December 2022 709,998

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 67,996
Cost 92,004
160,000

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

2023 2022
£    £   
Cost 92,004 569,155

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

Thetford International Properties
Limited (Registered number: 03491846)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY - continued

There would be no tax liability if the investment property was sold at the revalued amount.

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 400 323,819

Amounts falling due after more than one year:
Other debtors 1,137,335 -

Aggregate amounts 1,137,735 323,819

Other debtors include £1,137,335 (2022:£322,297) due from a company controlled by Mr J R Ellis (director).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 14,004
Other creditors 793,463 525,267
793,463 539,271

Other creditors include £336,999 (2022: £519,107) due to a company controlled by Mr J R Ellis (director). £375,000 within other creditors is owed to Mr J R Ellis and persons that he is connected with.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors - 193,902

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages due after 5 yrs - 116,587

Thetford International Properties
Limited (Registered number: 03491846)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 77,315 193,902

The mortgages are secured on the underlying properties.
The company has also provided it's bankers with a floating charge over property assets rights and revenues present and future or any of them.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023 140,844
Non-distributable transfer (72,849 )

At 31 December 2023 67,995

12. ULTIMATE CONTROLLING PARTY

Thetford International Limited is the company's ultimate parent company.

Thetford International Limited's registered office and principal place of business is:

Rymer Point, Bury Road, Thetford, Norfolk IP24 2PN.