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Company No: 00304514 (England and Wales)

TWENTIETH CENTURY INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

TWENTIETH CENTURY INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

TWENTIETH CENTURY INVESTMENTS LIMITED

BALANCE SHEET

As at 31 August 2024
TWENTIETH CENTURY INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 9,185,067 9,185,158
Investments 4 2,118,533 2,118,533
11,303,600 11,303,691
Current assets
Debtors 5 2,323,498 2,380,297
Cash at bank and in hand 36,166 24,083
2,359,664 2,404,380
Creditors: amounts falling due within one year 6 ( 4,027,130) ( 4,018,174)
Net current liabilities (1,667,466) (1,613,794)
Total assets less current liabilities 9,636,134 9,689,897
Creditors: amounts falling due after more than one year 7 ( 1,034,540) ( 1,214,460)
Provision for liabilities ( 616,858) ( 616,858)
Net assets 7,984,736 7,858,579
Capital and reserves
Called-up share capital 8 3,000 3,000
Profit and loss account 7,981,736 7,855,579
Total shareholders' funds 7,984,736 7,858,579

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Twentieth Century Investments Limited (registered number: 00304514) were approved and authorised for issue by the Board of Directors on 30 June 2025. They were signed on its behalf by:

J S Payne
Director
TWENTIETH CENTURY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
TWENTIETH CENTURY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Twentieth Century Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 1 Lansdowne Place, 17 Holdenhurst Road, Bournemouth, Dorset, BH8 8EW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £1,667,466. The Company is supported through loans from the directors both personally and through related company's. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover comprises amounts receivable in respect of rent and service charges.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Investment property not depreciated
Plant and machinery 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 September 2023 9,184,649 215 18,482 18,684 9,222,030
At 31 August 2024 9,184,649 215 18,482 18,684 9,222,030
Accumulated depreciation
At 01 September 2023 0 71 18,117 18,684 36,872
Charge for the financial year 0 36 55 0 91
At 31 August 2024 0 107 18,172 18,684 36,963
Net book value
At 31 August 2024 9,184,649 108 310 0 9,185,067
At 31 August 2023 9,184,649 144 365 0 9,185,158

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset have been used. If the investment properties had been accounted for using cost accounting rules, the properties would have been measured as follows: 2024 £3,815,996 2023 £3,815,996.

4. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 2,118,533 2,118,533

Investments in subsidiaries

2024
£
Cost
At 01 September 2023 2,118,533
At 31 August 2024 2,118,533
Carrying value at 31 August 2024 2,118,533
Carrying value at 31 August 2023 2,118,533

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.08.2024
Ownership
31.08.2023
Tunbridge Commercial Investments limited Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW Property investment Ordinary 100.00% 100.00%
Javsford Investments limited Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW Property investment Ordinary 100.00% 100.00%
TCI Ltd Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW Property investment Ordinary 100.00% 100.00%

5. Debtors

2024 2023
£ £
Trade debtors 7,196 15,908
Amounts owed by Group undertakings 1,692,036 1,703,483
Amounts owed by related parties 624,266 660,906
2,323,498 2,380,297

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 179,920 179,920
Trade creditors 36,098 12,433
Amounts owed to Group undertakings 558,835 549,829
Corporation tax 68,872 75,155
Other creditors 3,183,405 3,200,837
4,027,130 4,018,174

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 1,034,540 1,214,460

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
40,000 Management shares of £0.05 each ordinary shares of £ 0.05 each 2,000 2,000
3,000 3,000

9. Financial commitments

Other financial commitments

2024 2023
£ £
Commitments under non-cancellable operating leases 24,000 24,000

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Companies under common control amounts owed to the company 624,625 660,905

Transactions with the entity's directors

2024 2023
£ £
E W Parkhurst amounts owed by the company (1,154,967) (1,136,967)
0 0

Interest payable of £173,245 (2023: £170,545) has been recognised in the profit and loss account.
Included in accruals is unpaid interest of £1,975,658 (2023: £2,012,413).

Other related party transactions

2024 2023
£ £
Transactions with subsidiaries 1,692,036 1,703,484

£ 558,835 (2023: £549,829) has been provided against the amounts owed to the company to give a net figure owed to the company of £1,133,201 (2022: £1,153,655).