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Registration number: 11323138

TH Property Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

TH Property Services Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 6

 

TH Property Services Limited

Company Information

Directors

Mrs L A Tomkinson-Hill

Mr N M Tomkinson-Hill

Registered office

Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

Accountants

Wychbury Greaves Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

TH Property Services Limited

(Registration number: 11323138)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,276,000

1,217,000

Current assets

 

Debtors

595

-

Cash at bank and in hand

 

3,204

1,538

 

3,799

1,538

Creditors: Amounts falling due within one year

(352,024)

(374,045)

Net current liabilities

 

(348,225)

(372,507)

Total assets less current liabilities

 

927,775

844,493

Creditors: Amounts falling due after more than one year

(639,404)

(639,404)

Provisions for liabilities

(72,681)

(39,226)

Net assets

 

215,690

165,863

Capital and reserves

 

Called up share capital

5

2

2

Revaluation reserve

300,897

241,897

Retained earnings

(85,209)

(76,036)

Shareholders' funds

 

215,690

165,863

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 January 2025 and signed on its behalf by:
 

.........................................
Mr N M Tomkinson-Hill
Director

 

TH Property Services Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 May 2023

2

241,897

(76,035)

165,864

Profit for the year

-

-

49,826

49,826

Other comprehensive income

-

59,000

(59,000)

-

Total comprehensive income

-

59,000

(9,174)

49,826

At 30 April 2024

2

300,897

(85,209)

215,690

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 May 2022

2

202,074

(76,337)

125,739

Profit for the year

-

-

40,124

40,124

Other comprehensive income

-

39,823

(39,823)

-

Total comprehensive income

-

39,823

301

40,124

At 30 April 2023

2

241,897

(76,036)

165,863

 

TH Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA
England

These financial statements were authorised for issue by the Board on 10 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

TH Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 May

1,217,000

Fair value adjustments

59,000

At 30 April

1,276,000

Investment properties were valued on an open market basis on 30/04/2024 by the directors of the company.

 

TH Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

6

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Retained earnings
£

Surplus/deficit on property, plant and equipment revaluation

59,000

(59,000)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Surplus/deficit on property, plant and equipment revaluation

39,823

(39,823)