Company Registration No. 10535154 (England and Wales)
THURGUR PROPERTIES LIMITED
Unaudited accounts
for the year ended 31 December 2024
THURGUR PROPERTIES LIMITED
Unaudited accounts
Contents
THURGUR PROPERTIES LIMITED
Company Information
for the year ended 31 December 2024
Company Number
10535154 (England and Wales)
Registered Office
112-113 High Street
LINCOLN
LN5 7PY
ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
THURGUR PROPERTIES LIMITED
Statement of financial position
as at 31 December 2024
Tangible assets
38,320
12,378
Investment property
921,260
921,260
Cash at bank and in hand
6,566
49,228
Creditors: amounts falling due within one year
(41,156)
(35,530)
Net current (liabilities)/assets
(14,590)
13,698
Total assets less current liabilities
944,990
947,336
Creditors: amounts falling due after more than one year
(706,059)
(683,769)
Net assets
238,931
263,567
Called up share capital
100
100
Revaluation reserve
105,861
105,861
Capital contribution reserve
93,630
93,630
Profit and loss account
39,340
63,976
Shareholders' funds
238,931
263,567
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2025 and were signed on its behalf by
Oliver Thurgur
Director
Company Registration No. 10535154
THURGUR PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 December 2024
THURGUR PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10535154. The registered office is 112-113 High Street, LINCOLN, LN5 7PY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing balance
Fixtures & fittings
10% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding any discounts, and rebates.
THURGUR PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2024
-
16,558
16,558
At 31 December 2024
36,239
16,558
52,797
At 1 January 2024
-
4,180
4,180
Charge for the year
9,059
1,238
10,297
At 31 December 2024
9,059
5,418
14,477
At 31 December 2024
27,180
11,140
38,320
At 31 December 2023
-
12,378
12,378
Carrying values included above held under finance leases and hire purchase contracts:
£
£
Fair value at 1 January 2024
921,260
At 31 December 2024
921,260
Canwick Road, Lincoln - valuation carried out by Interbay Funding Ltd and provided a 75% interest only funding facility
Reported Value £346,260 (Prudent under value by £9,865)
Market value £356,125 x 75% = £267,094 ( mortgage facility)
Revaluation of £56,260 has been included in these current statements
West Parade, Lincoln - Market value (purchase price including costs)
£341,000 prior year revaluation of £34,000 = Market value £375,000
£325,000 x 75% = £243,750 interest only funding facility provided by
Interbay Funding.
Denison Court, Nottingham - Market value (purchase price including costs)
£200,000 (prudent vale in these statements)
£203,000 x 75% = £152,275 interest only funding facility provided by
Charter Court Finance Services.
Amounts falling due within one year
THURGUR PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,950
2,950
Obligations under finance leases and hire purchase contracts
5,614
-
Loans from directors
31,632
31,480
BBL loan of £29,500 over a term of 10yrs.
£29,500 dividend by 10 yrs
BB Loan due within 12 months £2,950
Directors Loan Account £31,632
Hire Purchase due within 12 months £5,614
Corporation Tax £0.00
Accrued Expenses £960
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
680,819
683,769
Obligations under finance leases and hire purchase contracts
25,240
-
Interbay Funding Ltd - £267,094 term interest only funding.
Interbay Funding Ltd - £243,750 term interest only funding.
Chartered Court Finance Ltd - £152,275 term interest on funding
BBL loan £29,500 payable term 10yrs. a further capital and interest holiday was taken for 6mths
moving the 1st repayment to March 2022.
Interest accrued during the 6mths holiday at a rate of £369 added to the total liability.
Yr2. £2,950
Yr3. £2,950
Yr4. £2,950
Yr5. £2,950
Yrs 6 - 9 £5,900
Hire Purchase due after 12 months £25,240
Yr2. £5,614
Yr3. £5,614
Yr4. £5,614
Yr5. £5,614
Yr6. £2,784
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
THURGUR PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 December 2024
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).