THIRTEEN COMMERCIAL SERVICES LIMITED

Company Registration Number:
04448871 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

THIRTEEN COMMERCIAL SERVICES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

THIRTEEN COMMERCIAL SERVICES LIMITED

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The principal activity of Thirteen Commercial Services Limited (the “Company”) during the year was to let and manage commercial property on behalf of Thirteen Housing Group (the “Group”). For the year ended 31 March 2024, the Company delivered an operating profit of £359,729 (2023: £347,831). During the year the Company managed external-facing commercial activity on behalf of the Group, including the letting of the student accommodation, market rented properties and commercial office premises as well as income received from renewable energy sources on behalf of the Group. Turnover increased in the year by £204,016 / 19.5%, relating to inflation increases on student accommodation and increased occupancy of commercial office space managed on behalf of the Group. Going forward the Company will continue to deliver commercial activity on behalf of the Group. The Company is a wholly owned, direct subsidiary of the Group.

Political and charitable donations

No charitable donations were made during the financial year (2023: none).

Additional information

Going concern The Group Board approved the latest financial plan for the Company in June 2024, the approval process includes stress-testing of the plan to ensure its continuing viability. On this basis, the director has a reasonable expectation that there are sufficient resources to continue in operational existence for the foreseeable future; this being twelve months after the date this document is signed. For this reason, the Company continues to adopt the going concern basis in the financial statements. Directors’ indemnities As permitted by the articles of association, the director has the benefit of an indemnity which is a qualifying third-party indemnity provision as defined by section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force. The Company also purchased and maintained throughout the financial year directors’ and officers’ liability insurance in respect of itself and its director.



Directors

The director shown below has held office during the whole of the period from
1 April 2023 to 31 March 2024

Jane Earl


The director shown below has held office during the period of
1 April 2023 to 28 July 2023

Barbara Heather Ashton


Secretary Jane Castor

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
18 September 2024

And signed on behalf of the board by:
Name: Jane Earl
Status: Director

THIRTEEN COMMERCIAL SERVICES LIMITED

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 1,188,841 1,047,798
Cost of sales: ( 718,584 ) ( 554,239 )
Gross profit(or loss): 470,257 493,559
Distribution costs: 0 0
Administrative expenses: ( 110,528 ) ( 145,728 )
Other operating income: 0 0
Operating profit(or loss): 359,729 347,831
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 359,729 347,831
Tax: 0 0
Profit(or loss) for the financial year: 359,729 347,831

THIRTEEN COMMERCIAL SERVICES LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors: 3 1,565,265 1,201,604
Cash at bank and in hand: 178,148 160,331
Investments:   0 0
Total current assets: 1,743,413 1,361,935
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 304,081 ) ( 250,874 )
Net current assets (liabilities): 1,439,332 1,111,061
Total assets less current liabilities: 1,439,332 1,111,061
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 1,439,332 1,111,061
Capital and reserves
Called up share capital: 1,000 1,000
Share premium account: 49,000 49,000
Other reserves: 0 0
Profit and loss account: 1,389,332 1,061,061
Total Shareholders' funds: 1,439,332 1,111,061

The notes form part of these financial statements

THIRTEEN COMMERCIAL SERVICES LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 September 2024
and signed on behalf of the board by:

Name: Jane Earl
Status: Director

The notes form part of these financial statements

THIRTEEN COMMERCIAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises income receivable in the financial year from commercial services supplied in the financial year included at the invoiced or accrued value (excluding value added tax).

    Other accounting policies

    Basis of accounting Thirteen Commercial Services Limited is a company incorporated in England. The registered office is 2 Hudson Quay, Windward Way, Middlesbrough. TS2 1QG. The Company is limited by shares. These financial statements are prepared on a going concern basis, under the historical cost convention, and in compliance with FRS 102 The Finance Reporting Standard applicable in the UK and Republic of Ireland (“FRS 102”) Section 1A – Small Entities and applicable standards in the UK. The principal accounting policies, which have been applied consistently throughout the year, are set out below. The presentation currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1. Going concern The director has, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparation of the financial statements. Turnover Turnover comprises income receivable in the financial year from commercial services supplied in the financial year included at the invoiced or accrued value (excluding value added tax). Financial instruments The Company has chosen to apply the recognition and measurement provisions of IAS 39 Financial Instruments and to follow the disclosure requirements of FRS 102 Section 11 and 12. The Company has not elected to hold any financial instruments at fair value through profit or loss. All financial assets and liabilities are held at amortised cost. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Impairment provisions for bad and doubtful debts are calculated based on customer payment history with 100% of former tenant arrears being provided for. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Cash and cash equivalents Cash and cash equivalents comprise cash at banks, in hand and short-term deposits with an original maturity date of three months or less. Debtors and other receivables Short term debtors are measured at transaction price, less any impairment. Creditors and loans payable Short term creditors are measured at transaction price, less any impairment. Critical accounting judgements and estimates The director believes there are no key estimates or judgements made in construction of these financial statements. Exemptions for qualifying entities under FRS102 The Company has taken advantage of the following exemptions in its financial statements: From the requirement to prepare a statement of cashflows in accordance with paragraph 3.17 (d) of FRS 102. From the requirement to disclose related party transactions in accordance with paragraph 33.1 (a) of FRS 102. Exemptions for qualifying entities under the Companies Act 2006 The Company has taken advantage of the following exemption in its financial statements: From the requirement to audit the accounts in accordance with section 479A.

THIRTEEN COMMERCIAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

THIRTEEN COMMERCIAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
£ £
Trade debtors 699 2,653
Prepayments and accrued income 36,857 84,380
Other debtors 1,527,709 1,114,571
Total 1,565,265 1,201,604
Debtors due after more than one year: 0 0

THIRTEEN COMMERCIAL SERVICES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 6,254 6,947
Taxation and social security 0 2,220
Accruals and deferred income 174,319 126,117
Other creditors 123,508 115,590
Total 304,081 250,874