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THIRSK DEVELOPMENTS LIMITED

(formerly THIRSK INVESTMENTS LIMITED)

Registered Number
08988395
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

THIRSK DEVELOPMENTS LIMITED
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

A J Boyle
R A Crosland
N D R Jowett

Registered Address

4 Bowcliffe Grange
Bramham
LS23 6UL

Registered Number

08988395 (England and Wales)
THIRSK DEVELOPMENTS LIMITED
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Current assets
Stocks33,036,4203,036,420
Debtors414,30550,906
Cash at bank and on hand146,401155,967
3,197,1263,243,293
Creditors amounts falling due within one year5(177,889)(448,463)
Net current assets (liabilities)3,019,2372,794,830
Total assets less current liabilities3,019,2372,794,830
Net assets3,019,2372,794,830
Capital and reserves
Called up share capital3232
Profit and loss account3,019,2052,794,798
Shareholders' funds3,019,2372,794,830
The financial statements were approved and authorised for issue by the Board of Directors on 24 June 2025, and are signed on its behalf by:
A J Boyle
Director
Registered Company No. 08988395
THIRSK DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continues to adopt the going concern basis of accounting in preparing the financial statements
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Other operating income relates to rent of the property held in stock while the property is being marketed.
Interest income
Interest income is recognised using the effective interest rate method.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20252024
Average number of employees during the year33
3.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

2025

2024

££
Finished goods3,036,4203,036,420
Total3,036,4203,036,420
4.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables8,51844,990
Prepayments and accrued income5,7875,916
Total14,30550,906
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables1,84545
Amounts owed to related parties-261,463
Taxation and social security83,26191,652
Other creditors57,66557,665
Accrued liabilities and deferred income35,11837,638
Total177,889448,463
Short term creditors are measured at transaction price (which is usually the invoice price).
6.Further information regarding the company's financial position
The ultimate parent company is In-Site Property Solutions Limited. The financial statements of In-Site Property Solutions Limited are available from Companies House, 4th Floor, Edinburgh Quay 2, 139 Fountainbridge, Edinburgh, EH3 9FF.