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Registered number: 12785972









THANE GATEWAY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
THANE GATEWAY LIMITED
REGISTERED NUMBER: 12785972

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,841,884
1,841,884

Current assets
  

Cash at bank and in hand
  
1,398
1,311

Creditors: amounts falling due within one year
 5 
(1,055,416)
(995,731)

Net current liabilities
  
 
 
(1,054,018)
 
 
(994,420)

Total assets less current liabilities
  
787,866
847,464

Creditors: amounts falling due after more than one year
 6 
(748,898)
(799,957)

  

Net assets
  
38,968
47,507


Capital and reserves
  

Called up share capital 
  
5
5

Profit and loss account
  
38,963
47,502

  
38,968
47,507


Page 1

 
THANE GATEWAY LIMITED
REGISTERED NUMBER: 12785972
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 income and retained earnings 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 27 May 2025.




O Gualtieri
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
THANE GATEWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Thane Gateway Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 16 Lockfield Avenue, Enfield, England, EN3 7PX. 

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.

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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 the Statement of income and retained earnings in the year in which they are incurred.

 
2.6

Taxation

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.


Page 3

 
THANE GATEWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually 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 the Statement of income and retained earnings.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2023
1,841,884



At 31 August 2024
1,841,884

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





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
1,841,884
1,841,884

Page 4

 
THANE GATEWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
47,972
39,311

Corporation tax
-
4,828

Other creditors
1,004,844
948,992

Accruals
2,600
2,600

1,055,416
995,731



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
748,898
799,957


The bank loans are secured on the property owned by the company.


7.Contingent liabilities

The Company has given cross guarantees to secure the borrowings of companies under common control.

 
Page 5