Registration number:
TH Mansfield Limited
for the Year Ended 31 March 2024
TH Mansfield Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
TH Mansfield Limited
Company Information
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Directors |
Mr Colin J Anderson Mr Paul M Johnston Mr Nicolas Taggart |
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Registered office |
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Accountants |
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TH Mansfield Limited
(Registration number: 13054709)
Statement of Financial Position as at 31 March 2024
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Note |
2024 |
2023 |
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Non-current assets |
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Debtors |
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- |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(3,271,702) |
- |
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Shareholders' (deficit)/funds |
(3,271,602) |
100 |
TH Mansfield Limited
(Registration number: 13054709)
Statement of Financial Position as at 31 March 2024
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These accounts 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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TH Mansfield Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling (£) and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.
The directors have prepared forecasts and projections that take into account the current financial position and expected future cash flows. These forecasts indicate that the company will require the continued support of its lenders to meet its obligations as they fall due.
The directors believe that the lenders will continue to support the company and that it is appropriate therefore to prepare the financial statements on a going concern basis.
However, the directors acknowledge that there is a material uncertainty related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.
Revenue recognition
Turnover comprises revenue earned on the sale of residential properties.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and bank deposits.
TH Mansfield Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. The cost comprises all costs of purchase, costs of conversion and other costs incurred in bringing stocks into its present condition.
At each reporting date, stocks are assessed for impairment. Where the net realisable value is lower than cost, an impairment loss is recognised in the profit and loss account. Net realisable value is the estimated selling price, less the estimated costs of completion and the estimated costs necessary to make the sale. If circumstances that previously caused stocks to be impaired no longer exist, the impairment is reversed to the extent of the original write-down, and the reversal is recognised in the profit and loss account.
Borrowings
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Stocks |
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2024 |
2023 |
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Stock |
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Stock impairment |
( |
- |
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TH Mansfield Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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Debtors |
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2024 |
2023 |
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Other debtors |
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Less non-current portion |
( |
- |
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Current |
2024 |
2023 |
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Other debtors |
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Non-current |
2024 |
2023 |
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Other debtors |
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- |
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Creditors |
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Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
- |
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Amounts due to related parties |
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Other payables |
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- |
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Accruals |
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- |
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Due after one year |
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Loans and borrowings |
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Amounts owed to group undertakings |
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Paragon Development Finance Limited holds a fixed and floating charge over the company's assets.
Maven Mansfield Ltd holds a fixed and floating charge over the company's assets.
TH Mansfield Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Related party transactions |
Summary of transactions with other related parties
Taggart Homes Southern Limited is a connected party due to common directorship. During the previous year, a loan account was operated between the companies. At the year end TH Mansfield Limited owed Taggart Homes Southern Limited £nil (2023: £202,857).
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Parent and ultimate parent undertaking |
TH Mansfield Ltd is a wholly owned subsidiary of
The ultimate parent is
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Post balance sheet events |
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