Company No: 09229269 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	0		724
Investment property	4	1,816,805		1,816,805
		1,816,805		1,817,529
Current assets
Debtors	5	148,489		107,431
Cash at bank and in hand		0		694
		148,489		108,125
Creditors: amounts falling due within one year	6	( 2,285,645)		( 2,301,011)
Net current liabilities		(2,137,156)		(2,192,886)
Total assets less current liabilities		(320,351)		(375,357)
Net liabilities		( 320,351)		( 375,357)
Capital and reserves
Called-up share capital		4		4
Profit and loss account		( 320,355 )		( 375,361 )
Total shareholder's deficit		( 320,351)		( 375,357)

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Thornhill Property Investments Limited (registered number: 09229269) were approved and authorised for issue by the Board of Directors on 18 September 2025. They were signed on its behalf by:

R C G MacLeod Director

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

Thornhill Property Investments Limited is a private company, limited by shares, incorporated in England and Wales with registered number 09229269. The address of the registered office is Thornhill Park, Stalbridge, Sturminster Newton, Dorset, DT10 2SH.

The statutory accounts have been prepared under the historical cost convention 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.

Going concern

At the year end, the Company had net liabilities. The company is reliant upon the support of its shareholders to enable it to meet its financial obligations as they arise. As the shareholders will continue to financially support the company for the foreseeable future, the directors consider it appropriate to prepare the statutory accounts on the going concern basis.

Turnover

Turnover comprises income from rental properties during the period. Revenue is recognised on an accruals basis in accordance with the relevant rental agreements.

Taxation

Current tax
The tax expense for the year comprises current tax. Tax is recognised in the Statement of income and retained earnings.

The current tax charge is based on the taxable profit for the year. Taxable profit differs from net profit as reported in the statement of income and retained earnings because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.

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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery

4 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.

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.

Investment property

Investment property is carried at fair value determined annually either by the directors or professional valuers. The fair values are derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

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

	Plant and machinery		Total
	£		£
Cost
At 01 January 2024	2,899		2,899
At 31 December 2024	2,899		2,899
Accumulated depreciation
At 01 January 2024	2,175		2,175
Charge for the financial year	724		724
At 31 December 2024	2,899		2,899
Net book value
At 31 December 2024	0		0
At 31 December 2023	724		724

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	1,816,805
As at 31 December 2024	1,816,805

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2024		2023
	£		£
Historic cost	2,015,153		2,015,153

5. Debtors

	2024		2023
	£		£
Other debtors	148,489		107,431

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to Group undertakings	2,269,367		2,269,367
Other creditors	16,278		31,644
	2,285,645		2,301,011

7. Related party transactions

Transactions with the entity's directors

Included within other creditors is £9,375 (2023: £28,276) due to R C G MacLeod.

Other related party transactions

Included within creditors is £2,269,367 (2023: £2,269,367) due to Thornhill Property Holdings Limited, the company's parent company. This is interest free and repayable on demand.

Included within other debtors is £109,393 (2023: £19,393) due from Thornhill Farming Limited, a company of which R C G MacLeod and P F Blackwell are both directors. This is interest free and repayable on demand.

8. Ultimate controlling party

The company is a wholly-owned subsidiary of Thornhill Property Holdings Limited, a company registered in Guernsey. The ultimate controlling parties are the trustees of the Thornhill Trust, a Guernsey trust that owns Thornhill Property Holdings Limited.