REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
REAL ESTATE INVESTMENT |
(THOMAS STREET) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
REAL ESTATE INVESTMENT |
(THOMAS STREET) LIMITED |
REAL ESTATE INVESTMENT |
(THOMAS STREET) LIMITED (REGISTERED NUMBER: 10247328) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
REAL ESTATE INVESTMENT |
(THOMAS STREET) LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
REAL ESTATE INVESTMENT |
(THOMAS STREET) LIMITED (REGISTERED NUMBER: 10247328) |
STATEMENT OF FINANCIAL POSITION |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
REAL ESTATE INVESTMENT |
(THOMAS STREET) LIMITED (REGISTERED NUMBER: 10247328) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Real Estate Investment (Thomas Street) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company is dependent on the continuing support both financial and management of it's director and shareholders, who have confirmed their intention to do so for the coming 12 months. |
Stocks |
Trading properties and developments are included in the financial statements at the lower of cost and net realisable value. Cost for this purpose comprises of the purchase cost of land and buildings and development expenditure. |
In considering the net realisable value of land and properties it is assumed by the director who is suitably experienced to carry out the valuation exercise of this development, that the development will be completed and sold in the ordinary course of business, and that it would not be placed on the open market for immediate sale. |
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
Financial instruments |
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due. |
Short term financial liabilities, including trade and other creditors, are measured at the 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
REAL ESTATE INVESTMENT |
(THOMAS STREET) LIMITED (REGISTERED NUMBER: 10247328) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loan | 3,156,958 | 3,139,525 |
The above loan is secured by way of a charge over the properties 42-48, 48A, 50 and 50A Thomas Street, 41 and 43 Back Turner Street and 7-9 Kelvin Street, Manchester, M4 1ER. |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Real Estate Investment Partnerships Limited, a company registered in England and Wales. The registered office of the company is 9th Floor, 80 Mosley Street, Manchester, M2 3FX. |