Caseware UK (AP4) 2024.0.164 2024.0.164 2023-11-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00883226 2023-11-01 2024-10-31 00883226 2022-11-01 2023-10-31 00883226 2024-10-31 00883226 2023-10-31 00883226 c:Director1 2023-11-01 2024-10-31 00883226 c:Director3 2023-11-01 2024-10-31 00883226 d:FreeholdInvestmentProperty 2024-10-31 00883226 d:FreeholdInvestmentProperty 2023-10-31 00883226 d:FreeholdInvestmentProperty 2 2023-11-01 2024-10-31 00883226 d:CurrentFinancialInstruments 2024-10-31 00883226 d:CurrentFinancialInstruments 2023-10-31 00883226 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 00883226 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 00883226 d:ShareCapital 2024-10-31 00883226 d:ShareCapital 2023-10-31 00883226 d:RevaluationReserve 2023-11-01 2024-10-31 00883226 d:RevaluationReserve 2024-10-31 00883226 d:RevaluationReserve 2023-10-31 00883226 d:OtherMiscellaneousReserve 2023-11-01 2024-10-31 00883226 d:OtherMiscellaneousReserve 2024-10-31 00883226 d:OtherMiscellaneousReserve 2023-10-31 00883226 d:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 00883226 d:RetainedEarningsAccumulatedLosses 2024-10-31 00883226 d:RetainedEarningsAccumulatedLosses 2023-10-31 00883226 c:OrdinaryShareClass1 2023-11-01 2024-10-31 00883226 c:OrdinaryShareClass1 2024-10-31 00883226 c:OrdinaryShareClass1 2023-10-31 00883226 c:FRS102 2023-11-01 2024-10-31 00883226 c:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 00883226 c:FullAccounts 2023-11-01 2024-10-31 00883226 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 00883226 2 2023-11-01 2024-10-31 00883226 f:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00883226










Thomas Graham & Associates Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 October 2024





 
Thomas Graham & Associates Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Thomas Graham & Associates Limited for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thomas Graham & Associates Limited for the year ended 31 October 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Thomas Graham & Associates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Thomas Graham & Associates Limited and state those matters that we have agreed to state to the Board of directors of Thomas Graham & Associates Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thomas Graham & Associates Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Thomas Graham & Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thomas Graham & Associates Limited. You consider that Thomas Graham & Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Thomas Graham & Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
4 February 2025
Page 1

 
Thomas Graham & Associates Limited
Registered number: 00883226

Balance sheet
As at 31 October 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,400,000
1,250,000

  
1,400,000
1,250,000

Current assets
  

Debtors: amounts falling due within one year
 5 
18,867
49,271

Cash at bank and in hand
  
732,044
1,023,428

  
750,911
1,072,699

Creditors: amounts falling due within one year
 6 
(168,939)
(38,502)

Net current assets
  
 
 
581,972
 
 
1,034,197

Total assets less current liabilities
  
1,981,972
2,284,197

Provisions for liabilities
  

Deferred tax
  
(118,012)
(96,035)

  
 
 
(118,012)
 
 
(96,035)

Net assets
  
1,863,960
2,188,162


Capital and reserves
  

Called up share capital 
 7 
18,000
18,000

Revaluation reserve
 8 
1,162,027
1,034,004

Other reserves
 8 
28,000
28,000

Profit and loss account
 8 
655,933
1,108,158

  
1,863,960
2,188,162


Page 2

 
Thomas Graham & Associates Limited
Registered number: 00883226

Balance sheet (continued)
As at 31 October 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 on 4 February 2025.




G F Thomas
G Thomas
Director
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Thomas Graham & Associates Limited
 

 
Notes to the financial statements
For the Year Ended 31 October 2024

1.


General information

Palatine Precision Limited is a private company limited by shares and is incorporated in England with the registration number 00883226.  The address of the registered office is Montague Place, Quayside, Chatham Maritime, Chatham, Kent, ME4 4QU.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover also comprises rental income receivable.

 
2.3

Interest income

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

Page 4

 
Thomas Graham & Associates Limited
 

 
Notes to the financial statements
For the Year Ended 31 October 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value 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.

Page 5

 
Thomas Graham & Associates Limited
 

 
Notes to the financial statements
For the Year Ended 31 October 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
Thomas Graham & Associates Limited
 

 
Notes to the financial statements
For the Year Ended 31 October 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
1,250,000


Surplus on revaluation
150,000



At 31 October 2024
1,400,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


Net surplus in investment property
1,280,039
1,130,039

At 31 October 2024
1,280,039
1,130,039



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
310,268
310,268

Accumulated depreciation and impairments
(201,007)
(195,657)

109,261
114,611

Page 7

 
Thomas Graham & Associates Limited
 

 
Notes to the financial statements
For the Year Ended 31 October 2024

5.


Debtors

2024
2023
£
£


Other debtors
-
33,760

Prepayments and accrued income
18,867
15,511

18,867
49,271



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
2,207

Other taxation and social security
1,270
865

Other creditors
162,669
18,500

Accruals and deferred income
5,000
16,930

168,939
38,502


Page 8

 
Thomas Graham & Associates Limited
 

 
Notes to the financial statements
For the Year Ended 31 October 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



18,000 (2023 - 18,000) Ordinary shares of £1.00 each
18,000
18,000



8.


Reserves

Revaluation reserve

This reserve comprises the revaluation of the investment property less a provision for deferred tax in the event of disposal.  The reserve is non-distributable.

Other reserves

This reserve relates to a cancellation of shares that is non-distributable.

Profit & loss account

This reserve comprises all current and prior period retained distributable profits and losses after deducting any distributions made to the company's shareholders.


9.


Controlling party

G F Thomas is the ultimate controlling party by virtue of the fact that he and his associates own 100% of the company's issued share capital.


Page 9