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Registered number: 14377571
THAMES CITY N9F LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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THAMES CITY N9F LTD
REGISTERED NUMBER: 14377571
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
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Year ended
30 September 2024
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Year ended
30 September 2024
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Period ended
30 September 2023
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Period ended
30 September 2023
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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THAMES CITY N9F LTD
REGISTERED NUMBER: 14377571
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 period 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 by:
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Kan Sum LAU
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The notes on pages 3 to 7 form part of these financial statements.
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THAMES CITY N9F LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Thames City N9F Ltd is a private company limited by shares registered in England and Wales. The address of the Company's registered office is 124 Finchley Road, London, United Kingdom, NW3 5JS.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The directors, having reviewed the Company's financial performance and position up to the date these financial statements were approved, are of the opinion that the Company has available at its disposal, adequate financial resources to continue in operational existence for the foreseeable future.
While there will always remain inherent uncertainty, the directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore consider it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.
Revenue comprises turnover recognised by the Company in respect of rental income receivable
during the year with amounts recognised in accordance with the underlying contractual arrangement
on a straight line basis over the term of occupancy and is measured at the fair value of the
consideration receivable.
Interest income is recognised in profit or loss using the effective interest method.
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.
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THAMES CITY N9F LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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.
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 the straight-line method.
Depreciation is provided on the following basis:
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.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. After initial recognition, investment properties are carried at fair value derived from current market rent and investment property yields for comparable real estate; adjusted, where considered necessary, for differences in either the nature, location and/or condition of the specific real estate asset. No depreciation is provided against investment properties with changes in fair value recognised through profit or loss.
In accordance with Financial Reporting Standard 102, the fair value assessment is conducted annually by the directors.
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.
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THAMES CITY N9F LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
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.
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The average monthly number of employees, including directors, during the period was 2 (2023 - 2).
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THAMES CITY N9F LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
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Leasehold Investment properties
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The 2024 valuations were made by directors, on an open market value for existing use basis.
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Year ended
30 September 2024
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Period ended
30 September 2023
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Prepayments and accrued income
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Cash and cash equivalents
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Year ended
30 September 2024
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Period ended
30 September 2023
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THAMES CITY N9F LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
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Creditors: Amounts falling due within one year
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Year ended
30 September 2024
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Period ended
30 September 2023
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Accruals and deferred income
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Year ended
30 September 2024
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Period ended
30 September 2023
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Allotted, called up and fully paid
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100 (2023 - 100) Ordinary shares of £1.00 each
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Related party transactions
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There are non-interest bearing loan of £6,665,938 due to the shareholder, Ms Mei Hing CHAK and non-interest bearing loan of £6,665,938 due to the director, Ms Ka Wing Karen LI.
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The ultimate controlling party during the period were Ms Mei Hing CHAK and Ms Ka Wing Karen LI.
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