REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED (REGISTERED NUMBER: 06401574) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED (REGISTERED NUMBER: 06401574) |
STATEMENT OF FINANCIAL POSITION |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 HOUSE EQUESTRIAN CENTRE LIMITED (REGISTERED NUMBER: 06401574) |
STATEMENT OF FINANCIAL POSITION - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED (REGISTERED NUMBER: 06401574) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Thompson House Equestrian Centre Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation and impairment |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - | 10% on cost and 2% on cost |
Land | - | not provided |
Fixture and fittings | - | 25% on reducing balance |
Tools and equipment | - | 10% on cost |
Impairment of assets |
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss. |
Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately. |
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. |
Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
Financial instruments |
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Short term creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. |
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 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. |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED (REGISTERED NUMBER: 06401574) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
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 or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Tools and |
property | Land | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The directors consider the fair value of the investment property is not materially different than the NBV at 30 June 2024. |
THOMPSON HOUSE EQUESTRIAN CENTRE LIMITED (REGISTERED NUMBER: 06401574) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to associated undertakings | - | 15,000 |
Taxation and social security | 5,651 | 3,869 |
Directors' current accounts | 108,141 | 115,468 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
5,934,000 | Ordinary | £0.612 | 3,631,608 | 3,631,608 |
10. | RELATED PARTY DISCLOSURES |
During the year, the company received loan monies of £6,918 (2023: £50,142) from an associated undertaking. Repayments of £21,918 (2023: £35,142) have been made during the year and as at 30 June 2024 a balance of £Nil (2023: £15,000) was owed to the company. |
During the year, the company received loan monies of £Nil (2023: £2,252,250) from group undertakings and accrued interest and fees to be paid of £237,736 (2023: £128,865) based on normal commercial terms. Repayments of £119,596 (2023: £49,152) have been made during the year. As at 30 June 2024 a balance of £2,450,103 (2023: £2,331,963) was owed to group undertakings. |
11. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Reva Investments Limited. Accounts for Reva Investments Limited can be obtained from its registered office, Oakland House, 21 Hope Carr Road, Leigh, Wigan, WN7 3ET. |