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REGISTERED NUMBER: NI638286 (Northern Ireland)













Thompson Property Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Thompson Property Holdings Limited (Registered number: NI638286)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 7


Thompson Property Holdings Limited

Company Information
for the Year Ended 31 July 2024







Directors: Mr WJM Thompson
Mr D Thompson
Mr A Thompson



Registered office: 49 Market Street
Tandragee
Co Armagh
BT62 2BP



Registered number: NI638286 (Northern Ireland)



Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH



Solicitors: Thompson Mitchell
12-14 Mandeville Street
Portadown
Co Armagh
BT62 3NZ

Thompson Property Holdings Limited (Registered number: NI638286)

Statement of Financial Position
31 July 2024

2024 2023
Notes £ £
Fixed assets
Investments 4 300,000 300,000
Investment property 5 1,593,330 1,953,285
1,893,330 2,253,285

Current assets
Debtors 6 71,768 1,093
Cash at bank 9,807 5,122
81,575 6,215
Creditors
Amounts falling due within one year 7 (631,736 ) (864,700 )
Net current liabilities (550,161 ) (858,485 )
Total assets less current liabilities 1,343,169 1,394,800

Creditors
Amounts falling due after more than one
year

8

(540,520

)

(596,454

)
Net assets 802,649 798,346

Capital and reserves
Called up share capital 9 300,000 300,000
Retained earnings 502,649 498,346
Shareholders' funds 802,649 798,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

Thompson Property Holdings Limited (Registered number: NI638286)

Statement of Financial Position - continued
31 July 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





Mr D Thompson - Director


Thompson Property Holdings Limited (Registered number: NI638286)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. Statutory information

Thompson Property Holdings Limited is a private company, limited by shares , registered in Northern Ireland. 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.

Preparation of consolidated financial statements
The financial statements contain information about Thompson Property Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue
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 carried at fair value determined annually by the directors. No depreciation is provided. Any 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Thompson Property Holdings Limited (Registered number: NI638286)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


2. Accounting policies - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Investment property fair value
Investment properties are carried at fair value determined annually by the directors based on their experience and knowledge of the specific property and the market. Inevitably a degree of judgement is involved in establishing a fair value for each property as each is unique and value can only be reliably tested in the market itself.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

4. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 August 2023
and 31 July 2024 300,000
Net book value
At 31 July 2024 300,000
At 31 July 2023 300,000

Thompson Property Holdings Limited (Registered number: NI638286)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


4. Fixed asset investments - continued

The company's investments at the Statement of financial position date in the share capital of companies include the following:

Thompson Fuels Limited
Registered office: Northern Ireland
Nature of business: Fuel distributors
%
Class of shares: holding
Ordinary 100.00
2024 2023
£ £
Aggregate capital and reserves 916,507 905,501
Profit for the year 11,006 16,253

5. Investment property
Total
£
Fair value
At 1 August 2023 1,953,285
Additions 7,838
Disposals (367,793 )
At 31 July 2024 1,593,330
Net book value
At 31 July 2024 1,593,330
At 31 July 2023 1,953,285

6. Receivables: amounts falling due within one year
2024 2023
£ £
Trade debtors 2,970 1,093
Other debtors 68,798 -
71,768 1,093

7. Payables: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 56,291 53,147
Trade creditors 482 -
Amounts owed to group undertakings - 281,023
Taxation and social security 15,928 3,177
Other creditors 559,035 527,353
631,736 864,700

The bank loan is repayable over 15 years with interest being charged at 3% above bank base rate.

Bank loans and overdrafts are secured by the following:
(a) A first and only all monies debenture over all the assets and undertakings of the company.
(b) An unlimited cross company guarantee from each of Thompson Fuels Limited and Thompson Property Holdings Limited in respect of the liabilities of each other to the bank.
(c) A first legal charge over properties owned by the company.

Thompson Property Holdings Limited (Registered number: NI638286)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


8. Payables: amounts falling due after more than one year
2024 2023
£ £
Bank loans 540,520 596,454

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 315,355 383,865

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
300,000 Ordinary Shares 1 300,000 300,000

10. Directors' advances, credits and guarantees

At the year end an amount of £548,961 (2023: £518,444) is owed to the directors. The loan does not bear interest and is repayable on demand.

11. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.