Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-302023-07-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05662653 2023-07-01 2024-06-30 05662653 2022-07-01 2023-06-30 05662653 2024-06-30 05662653 2023-06-30 05662653 2022-07-01 05662653 c:Director1 2023-07-01 2024-06-30 05662653 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 05662653 d:Buildings d:LongLeaseholdAssets 2024-06-30 05662653 d:Buildings d:LongLeaseholdAssets 2023-06-30 05662653 d:PlantMachinery 2023-07-01 2024-06-30 05662653 d:PlantMachinery 2024-06-30 05662653 d:PlantMachinery 2023-06-30 05662653 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05662653 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05662653 d:Goodwill 2024-06-30 05662653 d:Goodwill 2023-06-30 05662653 d:CurrentFinancialInstruments 2024-06-30 05662653 d:CurrentFinancialInstruments 2023-06-30 05662653 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05662653 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05662653 d:ShareCapital 2024-06-30 05662653 d:ShareCapital 2023-06-30 05662653 d:RetainedEarningsAccumulatedLosses 2024-06-30 05662653 d:RetainedEarningsAccumulatedLosses 2023-06-30 05662653 c:FRS102 2023-07-01 2024-06-30 05662653 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05662653 c:FullAccounts 2023-07-01 2024-06-30 05662653 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05662653 2 2023-07-01 2024-06-30 05662653 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 05662653 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05662653 d:RetirementBenefitObligationsDeferredTax 2024-06-30 05662653 d:RetirementBenefitObligationsDeferredTax 2023-06-30 05662653 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 05662653










TIMOTHY HAY PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
TIMOTHY HAY PROPERTIES LIMITED
REGISTERED NUMBER: 05662653

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
225,934
230,078

  
225,934
230,078

Current assets
  

Stocks
  
584,751
638,914

Debtors: amounts falling due within one year
 6 
264,351
335,317

  
849,102
974,231

Creditors: amounts falling due within one year
 7 
(324,530)
(566,935)

Net current assets
  
 
 
524,572
 
 
407,296

Total assets less current liabilities
  
750,506
637,374

Provisions for liabilities
  

Deferred tax
 8 
(2,776)
(3,643)

  
 
 
(2,776)
 
 
(3,643)

Net assets
  
747,730
633,731


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
747,630
633,631

  
747,730
633,731


Page 1

 
TIMOTHY HAY PROPERTIES LIMITED
REGISTERED NUMBER: 05662653
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The director considers 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 director acknowledges his 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 income statement 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: 




T L Hay
Director

Date: 17 March 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Timothy Hay Properties Limited is a private company limited by shares and incorporated in England and Wales, registration number 05662653. The registered office is C/O Larking Gowen, 1st Floor, Prospect House, Rouen Road, Norwich, NR1 1RE.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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.

Rendering of services

Turnover 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 turnover 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

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in the Income statement using the effective interest method.

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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 reporting 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 reporting 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 reporting date.

Page 4

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, using both straight line and reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
Nil / 2% straight line
Plant and machinery
-
20% 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.

 
2.10

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

 
2.11

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.

 
2.12

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.

Page 5

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.16

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.


3.


Employees

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

Page 6

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
8,500



At 30 June 2024

8,500



Amortisation


At 1 July 2023
8,500



At 30 June 2024

8,500



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 7

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Land and buildings
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 July 2023
218,259
51,858
270,117



At 30 June 2024

218,259
51,858
270,117



Depreciation


At 1 July 2023
6,675
33,364
40,039


Charge for the year on owned assets
445
3,699
4,144



At 30 June 2024

7,120
37,063
44,183



Net book value



At 30 June 2024
211,139
14,795
225,934



At 30 June 2023
211,584
18,494
230,078

Included in land and buildings is freehold land at a value of £196,003 (2023: £196,003) which is not depreciated.


6.


Debtors

2024
2023
£
£


Other debtors
263,763
313,079

Prepayments and accrued income
588
22,238

264,351
335,317


Page 8

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
71,807
91,779

Payments received on account
104,458
139,451

Trade creditors
2,250
3,554

Corporation tax
55,253
59,487

Other taxation and social security
1,882
1,973

Other creditors
71,496
264,219

Accruals and deferred income
17,384
6,472

324,530
566,935



8.


Deferred taxation




2024
2023


£

£






At beginning of year
(3,643)
(2,862)


Charged to profit or loss
867
(781)



At end of year
(2,776)
(3,643)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(2,783)
(3,649)

Pension surplus
7
6

(2,776)
(3,643)


9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
The pension cost charge represents contributions payable by the company to the fund and amounted to £6,300 (2023: £6,300). Contributions totalling £25 (2023: £25) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
TIMOTHY HAY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Related party transactions

At the balance sheet date, included within other creditors is a loan of £49,285 (2023: £39,385) owed to the director which is interest free.
At the balance sheet date, included within other debtors are loans of £256,794 (2023: £296,047) owed by companies under the control of the director which are interest free.
At the balance sheet date, included within other creditors is a loan of £Nil (2023: £224,580) owed to a company under the control of the director which is interest free.
On 18 May 2020 a guarantee of up to £350,000 was provided to National Westminster Bank Plc in regards to a new loan to Yaxham Waters Holiday Park Limited, a company under the control of T L Hay.

 
Page 10