Thurston House Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00679241 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2024

for

THURSTON HOUSE PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M B Nunn

P G Nunn

Mrs J A Boulton

REGISTERED OFFICE:

2-4 Clapham High Street

Clapham

London

SW4 7UT

REGISTERED NUMBER:

00679241 (England and Wales)

ACCOUNTANTS:

TC Group

Office: Croydon - TC SWP

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

FIXED ASSETS

Tangible assets

4

-

Investment property

5

6,020,000

7,031,316

6,020,000

7,031,316

CURRENT ASSETS

Debtors

6

18,408

11,112

Cash at bank

227,133

235,359

245,541

246,471

CREDITORS

Amounts falling due within one year

7

131,972

112,585

NET CURRENT ASSETS

113,569

133,886

TOTAL ASSETS LESS CURRENT LIABILITIES

6,133,569

7,165,202

PROVISIONS FOR LIABILITIES

628,260

881,089

NET ASSETS

5,505,309

6,284,113

CAPITAL AND RESERVES

Called up share capital

1,200

Other reserves

30,562

Fair value reserve

8

3,983,806

4,742,293

Retained earnings

1,489,741

1,510,058

SHAREHOLDERS' FUNDS

5,505,309

6,284,113

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 30th September 2025 and were signed on its behalf by:

P G Nunn - Director

1.	STATUTORY INFORMATION

Thurston House Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

The company continues to trade profitability and the directors monitor cash flow on a regular basis and believe that the business has sufficient resources for the foreseeable future. As a result, the going concern basis of accounting has been adopted.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1st January 2024

and 31st December 2024

9,743

1,523

11,266

DEPRECIATION

At 1st January 2024

and 31st December 2024

9,743

1,523

11,266

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

7,031,316

Revaluations

(1,011,316

)

At 31st December 2024

6,020,000

NET BOOK VALUE

At 31st December 2024

6,020,000

At 31st December 2023

7,031,316

Fair value at 31st December 2024 is represented by:

£

Valuations between 2014 and 2020 inclusive

4,885,382

Valuation in 2021

400,000

Valuation in 2022

402,000

Valuation in 2023

(64,000

)

Valuation in 2024

(1,011,316

)

Cost of acquisition

1,407,934

6,020,000

Investment properties were revalued on 28 March 2025 by Bells Chartered Surveyors at open market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

10,692

3,500

Prepayments

7,716

7,612

18,408

11,112

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed to associates

65,171

48,031

Tax

37,622

34,807

Other creditors

14,761

Directors' current accounts

4,080

10,580

Accrued expenses

10,338

4,406

131,972

112,585

8.

RESERVES

Fair

value

reserve

£

At 1st January 2024

4,742,293

Movement in fair value of properties net of
deferred tax

(758,487

)

At 31st December 2024

3,983,806

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.