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REGISTERED NUMBER: 03690827 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

THOROUGHSTAR LIMITED

THOROUGHSTAR LIMITED (REGISTERED NUMBER: 03690827)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THOROUGHSTAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A Moss
S G Moss





SECRETARY: A Moss





REGISTERED OFFICE: 50 Seymour Street
London
W1H 7JG





REGISTERED NUMBER: 03690827 (England and Wales)





ACCOUNTANTS: Orcom Civvals Limited
Accountants
50 Seymour Street
London
W1H 7JG

THOROUGHSTAR LIMITED (REGISTERED NUMBER: 03690827)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,500,000 1,500,000

CURRENT ASSETS
Debtors 5 76,895 101,835
Cash at bank 50,406 34,055
127,301 135,890
CREDITORS
Amounts falling due within one year 6 46,023 45,484
NET CURRENT ASSETS 81,278 90,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,581,278

1,590,406

CREDITORS
Amounts falling due after more than
one year

7

131,341

190,273
NET ASSETS 1,449,937 1,400,133

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 8 146,080 146,080
Retained earnings 1,302,857 1,253,053
1,449,937 1,400,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

THOROUGHSTAR LIMITED (REGISTERED NUMBER: 03690827)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





A Moss - Director


THOROUGHSTAR LIMITED (REGISTERED NUMBER: 03690827)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Thoroughstar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 at the amount of tax payable using the 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 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).

THOROUGHSTAR LIMITED (REGISTERED NUMBER: 03690827)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,500,000
NET BOOK VALUE
At 30 June 2024 1,500,000
At 30 June 2023 1,500,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2015 146,080
Cost 1,353,920
1,500,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,353,920 1,353,920

investment property was valued on an open market value basis on 30 June 2024 by the director Alex Moss .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 24,450
Amounts owed by participating interests 76,895 77,385
76,895 101,835

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 18,935 17,679
Other creditors 27,088 27,805
46,023 45,484

THOROUGHSTAR LIMITED (REGISTERED NUMBER: 03690827)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 131,341 190,273

8. RESERVES
Fair
value
reserve
£   
At 1 July 2023
and 30 June 2024 146,080

9. RELATED PARTY DISCLOSURES

Included in note 5, debtors amounts falling due within one year is £76,895 owed by Algebra Property Limited a company in which the directors Mr S G Moss and A Moss are also directors.
The loan was made interest free and repayable on demand.