REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2024 |
for |
Thyme To Rent Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 October 2024 |
for |
Thyme To Rent Limited |
Thyme To Rent Limited (Registered number: 12056816) |
Contents of the Financial Statements |
for the Year Ended 31 October 2024 |
Page |
Company information | 1 |
Chartered accountants' report | 2 |
Statement of financial position | 3 | to | 4 |
Notes to the financial statements | 5 | to | 8 |
Thyme To Rent Limited |
Company Information |
for the Year Ended 31 October 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Thyme To Rent Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thyme To Rent Limited for the year ended 31 October 2024 which comprise the Income statement, Statement of financial position, Statement of changes in equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Thyme To Rent Limited in accordance with the terms of our engagement letter dated 13 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Thyme To Rent Limited and state those matters that we have agreed to state to the director of Thyme To Rent Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thyme To Rent Limited and its director for our work or for this report. |
It is your duty to ensure that Thyme To Rent 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 Thyme To Rent Limited. You consider that Thyme To Rent Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Thyme To Rent 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. |
Bank House |
Broad Street |
Spalding |
Lincolnshire |
PE11 1TB |
Thyme To Rent Limited (Registered number: 12056816) |
Statement of Financial Position |
31 October 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
Fixed assets |
Investments | 5 |
Investment property | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 9 |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Fair value reserve |
Retained earnings |
Shareholders' funds |
The director acknowledges her 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. |
Thyme To Rent Limited (Registered number: 12056816) |
Statement of Financial Position - continued |
31 October 2024 |
The financial statements were approved by the director and authorised for issue on |
Thyme To Rent Limited (Registered number: 12056816) |
Notes to the Financial Statements |
for the Year Ended 31 October 2024 |
1. | Statutory information |
Thyme To Rent Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
The presentation currency of the financial statements is the Pound Sterling (£). |
Investment property |
Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment properties, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be be reliably measurable on an on-going basis. |
Investments |
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. |
Impairment |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. |
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 statement of financial position date. |
Thyme To Rent Limited (Registered number: 12056816) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
3. | 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. |
Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
4. | Employees and directors |
The average number of employees during the year was |
5. | Fixed asset investments |
Listed |
investments |
£ |
Cost or valuation |
At 1 November 2023 |
Additions |
Revaluations |
Dividends received | 17,426 |
At 31 October 2024 |
Net book value |
At 31 October 2024 |
At 31 October 2023 |
Thyme To Rent Limited (Registered number: 12056816) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
5. | Fixed asset investments - continued |
Cost or valuation at 31 October 2024 is represented by: |
Listed |
investments |
£ |
Valuation in 2023 | (39,959 | ) |
Valuation in 2024 | 249,917 |
Cost | 1,988,188 |
2,198,146 |
6. | Investment property |
Total |
£ |
Fair value |
At 1 November 2023 |
and 31 October 2024 |
Net book value |
At 31 October 2024 |
At 31 October 2023 |
Fair value at 31 October 2024 is represented by: |
£ |
Valuation in 2023 | 48,039 |
Cost | 341,961 |
390,000 |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Prepayments and accrued income |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Corporation tax |
Amounts owed to |
related company |
Directors' loan accounts | 93,566 | 343,566 |
Accruals and deferred income |
Thyme To Rent Limited (Registered number: 12056816) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2024 |
9. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax |
Other timing differences | 58,488 | - |
Deferred |
tax |
£ |
Provided during year |
Balance at 31 October 2024 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £1 | 100 | 100 |