2023-03-292024-03-282024-03-28false05738704THORP LETTINGS 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THORP LETTINGS LIMITED

Registered Number
05738704
(England and Wales)

Unaudited Financial Statements for the Year ended
28 March 2024

THORP LETTINGS LIMITED
Company Information
for the year from 29 March 2023 to 28 March 2024

Director

David Robert Smith

Registered Address

12 Thorp
Royton
Oldham
OL2 5TH

Registered Number

05738704 (England and Wales)
THORP LETTINGS LIMITED
Balance Sheet as at
28 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3603,491603,530
603,491603,530
Current assets
Debtors852852
Cash at bank and on hand3,6673,940
4,5194,792
Creditors amounts falling due within one year4(45,274)(36,735)
Net current assets (liabilities)(40,755)(31,943)
Total assets less current liabilities562,736571,587
Creditors amounts falling due after one year5(613,040)(613,040)
Provisions for liabilities(38,980)(38,980)
Net assets(89,284)(80,433)
Capital and reserves
Called up share capital100100
Revaluation reserve166,176166,176
Profit and loss account(255,560)(246,709)
Shareholders' funds(89,284)(80,433)
The financial statements were approved and authorised for issue by the Director on 9 October 2024, and are signed on its behalf by:
David Robert Smith
Director
Registered Company No. 05738704
THORP LETTINGS LIMITED
Notes to the Financial Statements
for the year ended 28 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Investment property
Investment properties are included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 29 March 23905,0001,260906,260
At 28 March 24905,0001,260906,260
Depreciation and impairment
At 29 March 23301,732998302,730
Charge for year-3939
At 28 March 24301,7321,037302,769
Net book value
At 28 March 24603,268223603,491
At 28 March 23603,268262603,530
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables28,53326,793
Bank borrowings and overdrafts11,4433,432
Taxation and social security3,2103,210
Accrued liabilities and deferred income2,0883,300
Total45,27436,735
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts613,040613,040
Total613,040613,040