Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02820689 2023-04-01 2024-03-31 02820689 2022-04-01 2023-03-31 02820689 2024-03-31 02820689 2023-03-31 02820689 c:Director2 2023-04-01 2024-03-31 02820689 d:FurnitureFittings 2023-04-01 2024-03-31 02820689 d:FurnitureFittings 2024-03-31 02820689 d:FurnitureFittings 2023-03-31 02820689 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02820689 d:CurrentFinancialInstruments 2024-03-31 02820689 d:CurrentFinancialInstruments 2023-03-31 02820689 d:Non-currentFinancialInstruments 2024-03-31 02820689 d:Non-currentFinancialInstruments 2023-03-31 02820689 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02820689 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02820689 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 02820689 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 02820689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 02820689 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 02820689 d:ShareCapital 2024-03-31 02820689 d:ShareCapital 2023-03-31 02820689 d:RetainedEarningsAccumulatedLosses 2024-03-31 02820689 d:RetainedEarningsAccumulatedLosses 2023-03-31 02820689 c:OrdinaryShareClass1 2023-04-01 2024-03-31 02820689 c:OrdinaryShareClass1 2024-03-31 02820689 c:OrdinaryShareClass1 2023-03-31 02820689 c:FRS102 2023-04-01 2024-03-31 02820689 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02820689 c:FullAccounts 2023-04-01 2024-03-31 02820689 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02820689 2 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02820689









THORSTONE LAND & PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THORSTONE LAND & PROPERTY LIMITED
REGISTERED NUMBER: 02820689

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,162
1,735

  
1,162
1,735

Current assets
  

Debtors: amounts falling due within one year
 5 
321,402
415,743

Cash at bank and in hand
 6 
185,381
97,343

  
506,783
513,086

Creditors: amounts falling due within one year
 7 
(421,719)
(633,516)

Net current assets/(liabilities)
  
 
 
85,064
 
 
(120,430)

Total assets less current liabilities
  
86,226
(118,695)

Creditors: amounts falling due after more than one year
 8 
(26,944)
(32,500)

  

Net assets/(liabilities)
  
59,282
(151,195)


Capital and reserves
  

Called up share capital 
 10 
300
300

Profit and loss account
  
58,982
(151,495)

  
59,282
(151,195)


Page 1

 
THORSTONE LAND & PROPERTY LIMITED
REGISTERED NUMBER: 02820689
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S J Silverstone
Director

Date: 30 January 2025

Page 2

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Thorstone Land & Property Limited is a private Company limited by shares and incorporated in England (Registered number 02820689). Its registered office is 104a Park Street, London, United Kingdom, W1K 6NG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. The directors have obtained assurances from the shareholders to continue to provide adequate funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
 
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
2.3

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors 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.

 
2.7

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.

 
2.8

Creditors

Short-term creditors 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.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
68,169



At 31 March 2024

68,169



Depreciation


At 1 April 2023
66,434


Charge for the year on owned assets
573



At 31 March 2024

67,007



Net book value



At 31 March 2024
1,162



At 31 March 2023
1,735

Page 6

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
500

Other debtors
317,030
411,869

Prepayments and accrued income
4,372
3,374

321,402
415,743



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
185,381
97,343

185,381
97,343



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
11,946
8,161

Corporation tax
34,875
-

Other taxation and social security
1,214
-

Other creditors
339,763
595,434

Accruals and deferred income
23,921
19,921

421,719
633,516



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
26,944
32,500

26,944
32,500


Page 7

 
THORSTONE LAND & PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
26,944
32,500


26,944
32,500


36,944
42,500



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



300 (2023 - 300) Ordinary shares of £1.00 each
300
300


Page 8