REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THOMPSON HOMES (YORKSHIRE) LTD. |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THOMPSON HOMES (YORKSHIRE) LTD. |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THOMPSON HOMES (YORKSHIRE) LTD. |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors & Accountants |
5&6 Manor Court |
Manor Garth |
Scarborough |
North Yorkshire |
YO11 3TU |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Thompson Homes (Yorkshire) Ltd. is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The level of rounding used in the financial statements is to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents the total invoice value, excluding value added tax, of sales made during the year. Revenue from private house sales is recognised in the profit and loss account when the significant risks and rewards of ownership have been transferred to the purchaser. Revenue from contracting work is recognised by reference to the stage of completion of the contract at the balance sheet date where the outcome can be estimated reliably. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Long leasehold improvements | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment properties are properties held to earn rentals or for capital appreciation or both. |
Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains. |
Stocks |
Stocks are valued at the lower of costs and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated on a first in, first out basis. |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Entitlements |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
Amortisation for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Long |
Freehold | leasehold | Plant and |
property | improvements | machinery |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Investment properties included at fair value would have been included on a historical cost basis at: |
2024 | 2023 |
£ | £ |
Cost | 427,000 | 427,000 |
The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''. |
The investment properties have been valued by the directors at fair value taking into account existing tenancy arrangements. |
During the year an increase in the fair value of investment properties of 2024 (Nil) 2023 £30,000 has been included directly in the profit and loss account. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred tax on investment property | 24,902 | 24,902 |
146,114 | 115,435 |
THOMPSON HOMES (YORKSHIRE) LTD. (REGISTERED NUMBER: 03843469) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during year |
Balance at 31 March 2024 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
11. | RELATED PARTY TRANSACTIONS |
The company has taken advantage of the exemption conferred by section 1AC.35 of FRS 102 Section 1A not to disclose transactions with wholly owned group members. |
Directors' current account |
Included within creditors due within one year is £24,049 (2023 £10,624) owing to a director of the company. The loan is deemed to be repayable on demand and no interest has been charged to the company on the amount outstanding. |
Other related party transactions |
Included within debtors due within one year is £1,784,867 (2023 £950,000) owed from Thompson Property Limited, a connected company. The loan is deemed to be repayable on demand and no interest has been charged by the company on the amount outstanding. |
An unlimited inter company composite guarantee is provided by Thompson Homes (Yorkshire) |
Limited between Thompson Property Limited and Thompson Homes (Yorkshire) Limited supported by |
a debenture over it's whole assets and undertaking. |
12. | CONTROLLING PARTY |
The company is a wholly owned subsidiary of Thompson Homes (Yorkshire) Holdings Limited, whose company reference is 13136685 and who's registered office and principal place of business is Beacon Works Barmoor Lane, Scalby, Scarborough, United Kingdom, YO13 0RB |
Thompson Homes (Yorkshire) Holding Limited is under the control of its director Mr B Thompson, and as such he is deemed the ultimate controlling party. |