Registration number: 12596777

Thirdway TX Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 6

Thirdway TX Limited

Company Information

Director

B J P Gillam

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Auditor

Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Thirdway TX Limited

Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	2,769	8,581
Current assets
Debtors	6	47,803	51,236
Cash at bank and in hand		1,831	1,678
		49,634	52,914
Creditors: Amounts falling due within one year	7	(1,433,866)	(1,258,265)
Net current liabilities		(1,384,232)	(1,205,351)
Net liabilities		(1,381,463)	(1,196,770)
Capital and reserves
Called up share capital		1	1
Retained earnings		(1,381,464)	(1,196,771)
Shareholders' deficit		(1,381,463)	(1,196,770)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

Approved and authorised by the director on 27 August 2025
 

.........................................

B J P Gillam

Director

Company registration number: 12596777

Thirdway TX Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of commercial property management services.

2	Audit Report

The Independent Auditor's Report was unqualified. We draw attention to the Going Concern paragraph in Note 3 of the financial statements which explains that the director is taking steps towards the cessation of the company's trade and the subsequent dissolution of the company. Accordingly the financial statements have been prepared on a basis other than going concern. The name of the Senior Statutory Auditor who signed the audit report on 27 August 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

3	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a loss for the year ended 31 December 2024 and had a deficiency of net assets at that date of £1,381,463.

The director is taking steps towards the cessation of the company's trade and the subsequent dissolution of the company.

The financial statements have therefore been prepared on a basis other than going concern. All assets have been recognised at their net realisable value. No costs associated with the closure of the company have been provided for at 31 December 2024.

Thirdway TX Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for services rendered, stated net of discounts and of Value Added Tax.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisitions and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	25% straight line

Thirdway TX Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined pension contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4	Staff numbers

The average number of persons employed by the company during the year, was 3 (2023: 3).

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	24,948	24,948
At 31 December 2024	24,948	24,948
Depreciation
At 1 January 2024	16,367	16,367
Charge for the year	5,812	5,812
At 31 December 2024	22,179	22,179
Carrying amount
At 31 December 2024	2,769	2,769
At 31 December 2023	8,581	8,581

Thirdway TX Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

	2024 £	2023 £
Trade debtors	-	3,365
Amounts owed by group undertakings	5,371	-
Other debtors	42,432	47,871
	47,803	51,236

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Trade creditors	2,651	916
Amounts owed to group undertakings	1,418,975	1,244,863
Taxation and social security	6,057	5,571
Other creditors	6,183	6,915
	1,433,866	1,258,265

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of guarantees not included in the statement of financial position is £500,000 (2023: £500,000) in respect of a group overdraft facility. No liability is expected to arise in respect of this guarantee.

9	Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts fully due with companies wholly owned within the group.

10	Relationship between entity and parents

The parent of the smallest group preparing accounts including the results of the company is headed by Thirdway Holdings Limited.

The registered address of Thirdway Holdings Limited is 130 Shaftesbury Avenue, 2nd Floor, London, W1D 5EU.