Thornwood Investments Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Unaudited Financial Statements	5 to 13

Thornwood Investments Limited

Company Information

Directors

Mr A J A Dunn Mrs A R Dunn Mr N D Parker

Registered office

The Estate Office Wield Park Upper Wield Alresford England SO24 9FX

Accountants

Francis Clark LLP Hitchcock House Hilltop Park Devizes Road Salisbury Wiltshire SP3 4UF

Thornwood Investments Limited

Balance Sheet

31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	4,799,066	4,806,959
Investments	5	17,024,995	8,215,219
Other financial assets	6	6,106,024	911,251
		27,930,085	13,933,429
Current assets
Debtors	7	9,936	13,649,403
Cash at bank and in hand		156	45,664
		10,092	13,695,067
Creditors: Amounts falling due within one year	8	(718,516)	(14,376,584)
Net current liabilities		(708,424)	(681,517)
Total assets less current liabilities		27,221,661	13,251,912
Creditors: Amounts falling due after more than one year	8	(2,250,000)	(2,250,000)
Provisions for liabilities		(141,853)	(135,822)
Net assets		24,829,808	10,866,090
Capital and reserves
Called up share capital	10	5,624,881	5,624,880
Share premium reserve		4,094,229	-
Capital redemption reserve		2,769,060	2,769,060
Profit and loss account		12,341,638	2,472,150
Shareholders' funds		24,829,808	10,866,090

Thornwood Investments Limited

Balance Sheet

31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 June 2025 and signed on its behalf by:
 

......................................... Mr N D Parker Director

Company Registration Number: 05683298

Thornwood Investments Limited

Statement of Changes in Equity

Year Ended 31 March 2025

	Share capital £	Share premium £	Capital redemption reserve £	Profit and loss account £
At 1 April 2024	5,624,880	-	2,769,060	2,472,150
Profit for the year	-	-	-	9,869,488
New share capital subscribed	1	4,094,229	-	-
At 31 March 2025	5,624,881	4,094,229	2,769,060	12,341,638

	Total £
At 1 April 2024	10,866,090
Profit for the year	9,869,488
New share capital subscribed	4,094,230
At 31 March 2025	24,829,808

	Share capital £	Capital redemption reserve £	Profit and loss account £	Total £
At 1 April 2023	5,624,880	2,769,060	2,697,078	11,091,018
Loss for the year	-	-	(224,928)	(224,928)
At 31 March 2024	5,624,880	2,769,060	2,472,150	10,866,090

Thornwood Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

1	General information

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

The address of its registered office is:
The Estate Office
Wield Park
Upper Wield
Alresford
England
SO24 9FX

These financial statements were authorised for issue by the Board on 6 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Going concern

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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.

Thornwood Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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 acquisition 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
Leasehold land and buildings	not depreciated
Fixtures, fittings and equipments	20% straight line
Computer equipment	25% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Interests in subsidaries and jointly controlled entities are intially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity being neither a subsidary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Thornwood Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Amounts owed to understanding; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Thornwood Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	4,827,117	78,047	4,905,164
At 31 March 2025	4,827,117	78,047	4,905,164
Depreciation
At 1 April 2024	36,498	61,707	98,205
Charge for the year	-	7,893	7,893
At 31 March 2025	36,498	69,600	106,098
Carrying amount
At 31 March 2025	4,790,619	8,447	4,799,066
At 31 March 2024	4,790,619	16,340	4,806,959

Included within the net book value of land and buildings above is £4,049,246 (2024 - £4,049,246) in respect of freehold land and buildings and £741,373 (2024 - £741,373) in respect of long leasehold land and buildings.
 

5	Investments

	2025 £	2024 £
Investments in subsidiaries	15,455,259	2,982,766
Investments in joint ventures	1,569,736	5,232,453
	17,024,995	8,215,219