Registered number
09636975
Theydon Estates Ltd
Filleted Accounts
31 January 2024
Theydon Estates Ltd
Registered number: 09636975
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 2,850,000 2,800,000
Current assets
Debtors 4 98,227 34,323
Cash at bank and in hand 141 303
98,368 34,626
Creditors: amounts falling due within one year 5 (122,497) (114,933)
Net current liabilities (24,129) (80,307)
Total assets less current liabilities 2,825,871 2,719,693
Creditors: amounts falling due after more than one year 6 (2,000,419) (1,864,839)
Provisions for liabilities 8 (236,853) (170,508)
Net assets 588,599 684,346
Capital and reserves
Called up share capital 1 1
Other reserves 710,560 726,905
Profit and loss account (121,962) (42,560)
Shareholder's funds 588,599 684,346
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Friedman
Director
Approved by the board on 14 January 2025
Theydon Estates Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property
Investment property is shown at most recent valuation. Any aggregate 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 Income Statement, 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 as the amount of tax payable using tax rates and laws 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 timing differences.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Investment Property
Land and buildings
£
Cost
At 1 February 2023 2,800,000
Surplus on revaluation 50,000
At 31 January 2024 2,850,000
Depreciation
At 31 January 2024 -
Fair Value and Net Book Value
At 31 January 2024 2,850,000
At 31 January 2023 2,800,000
Investment Property - continued
Fair value at 31 January 2024 is represented by: £
Valuation in 2017 526,479
Valuation in 2018 170,934
Valuation in 2021 200,000
Valuation in 2024 50,000
Cost 1,902,587
2,850,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
4 Debtors 2024 2023
£ £
Trade debtors 17,741 17,646
Other debtors 80,486 16,677
98,227 34,323
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,460 28,624
Other creditors 119,037 86,309
122,497 114,933
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,000,419 1,864,839
Bank loan amounting to £1,965,234 (2023: £1,824,909) is secured by way of a legal charge over the investment property of the company.
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 2,000,419 1,864,839
8 Provisions for liabilities 2024 2023
£ £
Deferred tax b/f 170,508 170,508
Deferred taxation arising on the revaluation of investment property 66,345 -
At 31 January 2024 236,853 170,508
9 Other information
Theydon Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
16c Urban Hive
Theydon Road
London
E5 9BQ
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