Company registration number 01061021 (England and Wales)
THANINGTON HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
THANINGTON HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
THANINGTON HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
128,119
134,166
Investment property
4
14,074,500
13,974,500
Investments
5
227,558
227,558
14,430,177
14,336,224
Current assets
Trade and other receivables
6
80,213
122,708
Cash and cash equivalents
1,840,339
2,002,391
1,920,552
2,125,099
Current liabilities
7
(494,449)
(531,031)
Net current assets
1,426,103
1,594,068
Total assets less current liabilities
15,856,280
15,930,292
Provisions for liabilities
(912,273)
(908,857)
Net assets
14,944,007
15,021,435
Equity
Called up share capital
9
348,700
348,700
Non-distributable retained earnings
10
7,428,142
7,417,896
Distributable retained earnings
7,167,165
7,254,839
Total equity
14,944,007
15,021,435
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 18 June 2025 and are signed on its behalf by:
Mr M H Fisher
Director
Company registration number 01061021 (England and Wales)
THANINGTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
Thanington Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 15a High Street, Westerham, Kent, TN16 1RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true
1.3
Revenue
Revenue represents rents receivable net of Value Added Tax.
Revenue arises from income received under operating lease agreements through the letting of investment properties.
Revenue arising from residential letting receipts are recognised net of letting agent fees and any direct property related costs.
1.4
Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
10% straight line
Plant and equipment
25% straight line
Fixtures, fittings and equipment
33% straight line
Motor vehicles
25% diminishing value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
THANINGTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.6
Non-current investments
Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
All called up share capital is allotted and fully paid.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
THANINGTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2024 - 5)
3
Property, plant and equipment
Leasehold improvements
Plant and equipment
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
33,631
23,507
28,564
200,031
285,733
Additions
3,605
73,099
76,704
Disposals
(68,750)
(68,750)
At 31 March 2025
33,631
23,507
32,169
204,380
293,687
Depreciation and impairment
At 1 April 2024
33,631
23,507
27,592
66,837
151,567
Depreciation charged in the year
2,173
41,906
44,079
Eliminated in respect of disposals
(30,078)
(30,078)
At 31 March 2025
33,631
23,507
29,765
78,665
165,568
Carrying amount
At 31 March 2025
2,404
125,715
128,119
At 31 March 2024
972
133,194
134,166
THANINGTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Investment property
2025
£
Fair value
At 1 April 2024
13,974,500
Additions
86,338
Fair value movement
13,662
At 31 March 2025
14,074,500
Investment properties comprise a number of commercial units together with, in certain cases, ancillary self-contained residential.
The properties have been valued annually by the directors supported by irregular independent external professional valuations prepared as and when requested.
The directors have considered rental yields and recent open market transactions on values in the locations where their holdings are situated and are satisfied that the figures adopted in the accounts reasonably reflect the value of the company's assets as at 31 March 2025.
It is noted that during the year approximately 100% (2024: 100%) of rents due were collected.
5
Fixed asset investments
2025
2024
£
£
Investments in associates
98,558
98,558
Classic cars
129,000
129,000
227,558
227,558
Fixed asset investments are all held at cost, less provision for impairment.
6
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
80,213
122,708
7
Current liabilities
2025
2024
£
£
Amounts owed to group undertakings
40
40
Taxation and social security
74,212
68,157
Other payables
420,197
462,834
494,449
531,031
THANINGTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2025
2024
Balances:
£
£
Deferred tax on fair value adjustments
912,273
908,857
2025
Movements in the year:
£
Liability at 1 April 2024
908,857
Charge to profit or loss
3,416
Liability at 31 March 2025
912,273
At the reporting date the company had carried forward tax losses totalling £1,676,343 (2024: £1,538,804). Deferred tax assets totalling £419,100 (2024: £384,700) have not been recognised in respect of these losses. The directors consider this to be a prudent measure in the preparation of the financial statements to avoid a potential overstatement of assets based on uncertain future events.
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
348,700
348,700
348,700
348,700
10
Non-distributable retained earnings
2025
2024
£
£
At the beginning of the year
7,417,896
7,827,865
Non distributable profits in the year
10,246
(409,969)
At the end of the year
7,428,142
7,417,896
The non-distributable retained earnings reserve shows separately the fair value gains, net of any deferred tax, arising on the investment properties, which have passed through profit or loss in the income statement.
THANINGTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
11
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Peter Reading FCCA
Statutory Auditor:
Sumer Audit
Date of audit report:
18 June 2025
Sumer Audit is the trading name of Sumer Auditco Limited
2025-03-312024-04-01falsefalsefalse18 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr B C ReedMr M H FisherMr B C Reed010610212024-04-012025-03-31010610212025-03-31010610212024-03-3101061021core:LandBuildingscore:LeasedAssetsHeldAsLessee2025-03-3101061021core:PlantMachinery2025-03-3101061021core:FurnitureFittings2025-03-3101061021core:MotorVehicles2025-03-3101061021core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-03-3101061021core:PlantMachinery2024-03-3101061021core:FurnitureFittings2024-03-3101061021core:MotorVehicles2024-03-3101061021core:CurrentFinancialInstrumentscore:WithinOneYear2025-03-3101061021core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3101061021core:CurrentFinancialInstruments2025-03-3101061021core:CurrentFinancialInstruments2024-03-3101061021core:ShareCapital2025-03-3101061021core:ShareCapital2024-03-3101061021core:FurtherSpecificReserve1ComponentTotalEquity2025-03-3101061021core:FurtherSpecificReserve1ComponentTotalEquity2024-03-3101061021core:RetainedEarningsAccumulatedLosses2025-03-3101061021core:RetainedEarningsAccumulatedLosses2024-03-3101061021core:ShareCapitalOrdinaryShareClass12025-03-3101061021core:ShareCapitalOrdinaryShareClass12024-03-3101061021bus:Director12024-04-012025-03-3101061021core:LandBuildingscore:LongLeaseholdAssets2024-04-012025-03-3101061021core:PlantMachinery2024-04-012025-03-3101061021core:FurnitureFittings2024-04-012025-03-3101061021core:MotorVehicles2024-04-012025-03-31010610212023-04-012024-03-3101061021core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-03-3101061021core:PlantMachinery2024-03-3101061021core:FurnitureFittings2024-03-3101061021core:MotorVehicles2024-03-31010610212024-03-3101061021core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-04-012025-03-3101061021core:Non-currentFinancialInstruments2025-03-3101061021core:Non-currentFinancialInstruments2024-03-3101061021bus:OrdinaryShareClass12024-04-012025-03-3101061021bus:OrdinaryShareClass12025-03-3101061021bus:OrdinaryShareClass12024-03-3101061021bus:PrivateLimitedCompanyLtd2024-04-012025-03-3101061021bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-3101061021bus:FRS1022024-04-012025-03-3101061021bus:Audited2024-04-012025-03-3101061021bus:Director22024-04-012025-03-3101061021bus:CompanySecretary12024-04-012025-03-3101061021bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:sharesiso4217:GBP