Thames Contemporary Homes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02966944 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

THAMES CONTEMPORARY HOMES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

V Khanna

A E Khanna

K Khanna

N N Khanna

SECRETARY:

K Jeyavarathan

REGISTERED OFFICE:

North Farm Industrial Estate

Longfield Road

Tunbridge Wells

Kent

TN2 3EY

REGISTERED NUMBER:

02966944 (England and Wales)

ACCOUNTANTS:

TC Group

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

CURRENT ASSETS

Inventories

4

425,000

913,650

Debtors

5

1,853,025

443,269

Cash at bank

45,878

14,036

2,323,903

1,370,955

CREDITORS

Amounts falling due within one year

6

245,374

22,214

NET CURRENT ASSETS

2,078,529

1,348,741

TOTAL ASSETS LESS CURRENT LIABILITIES

2,078,529

1,348,741

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

2,078,429

1,348,641

SHAREHOLDERS' FUNDS

2,078,529

1,348,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2025 and were signed on its behalf by:

K Khanna - Director

1.	STATUTORY INFORMATION

The company is a private company limited by share and is registered in England and Wales. The address of the registered office is North Farm Industrial Estate, Tunbridge Wells, Longfield Road, Kent, TN2 3EY.

The financial statements have been prepared in pound sterling, the functional currency of the company, and monetary amounts in these financial statements have been rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the 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.

Turnover

Turnover comprises:

-

Gross rental income receivable; and

-

The value of stock sold during the year.

-

Share of development profit

Revenue from sales of development properties is recognised on completion of contracts. Rental income is recognised when due. Income arising from property development profit sharing agreements are recognised in accordance with the terms of the agreement. Any amounts received in advance or arrears are included in deferred or accrued income as applicable.

Stocks

Stocks are stated at the lower of cost and net relisable value, being the estimated selling price less costs to complete and sell. Cost is based on the costs of developing a site, these costs are then allocated to individual plots to achieve a consistent margin for the site. Work in progress and development property include labour and attributable overheads.

At each balance sheet date, 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 profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Finance and borrowing costs

Finance costs are charged to the income statement over the term of the debt using the effective interest method, so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

All borrowing costs are recognised in the income statement in the year in which they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	INVENTORIES

31.12.24

31.12.23

£

Properties

425,000

913,650

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

2,500

483

Other debtors

1,850,000

440,000

Prepayments and accrued income

525

2,786

1,853,025

443,269

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

671

52

Tax

243,263

14,450

Other creditors

-

6,412

Accruals and deferred income

1,440

1,300

245,374

22,214

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

100

Ordinary

£1

100

There are no restrictions on the distribution of dividends and the repayment of capital.

8.	RELATED PARTY DISCLOSURES

In the prior year an amount of £440,000 was included in other debtors, owed to the company by Thames Contemporary Homes (Wimbledon) Limited, a company under common control.

The company is part of a profit sharing arrangement with T S S Group Limited, a company under common control. During the year an interim payment of £500,000 was received by the company.

At the year end an amount of £1,850,000 was owed to the company from Thames Motor Group Limited, a company under common control. This amount is interest free and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr V Khanna, a director.