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Registered number: 02178825
Thornfield (Whitley) Estates Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Deans
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02178825
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 625,000 625,000
625,000 625,000
CURRENT ASSETS
Debtors 6 7,240 6,987
Cash at bank and in hand 42,274 52,861
49,514 59,848
Creditors: Amounts Falling Due Within One Year 7 (13,367 ) (14,506 )
NET CURRENT ASSETS (LIABILITIES) 36,147 45,342
TOTAL ASSETS LESS CURRENT LIABILITIES 661,147 670,342
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,776 ) (20,776 )
NET ASSETS 640,371 649,566
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Share premium account 251,832 251,832
Revaluation reserve 331,039 331,039
Profit and Loss Account 56,500 65,695
SHAREHOLDERS' FUNDS 640,371 649,566
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr B J Jackson
Director
11 July 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thornfield (Whitley) Estates Company Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable.  The policies adopted for the recognition of turnover are as follows:
Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.
Interest receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant & Machinery 25% on reducing balance
2.4. Investment Properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
2.5. Taxation
Taxation for the year comprises current and deferred tax.  Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.  
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.  Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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2.6. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.7. Leases
Rental income receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 1,794
As at 31 March 2025 1,794
Depreciation
As at 1 April 2024 1,794
As at 31 March 2025 1,794
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Investment Property
2025
£
Fair Value
As at 1 April 2024 and 31 March 2025 625,000
The directors are of the opinion that the fair value of the investment property as at 31 March 2025 accords to value shown on
the balance sheet, being £625,000. The value is based on an external valuation in 2022.
The historical cost of the investment property as at 31 March 2025 was £273,185 (2024 - £273,185).
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 6,783 4,978
Prepayments and accrued income 457 2,009
7,240 6,987
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 7,226 8,124
Tenant deposit bonds 100 100
Accruals and deferred income 6,041 6,282
13,367 14,506
8. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1.00 each 1,000 1,000
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