Thamesown Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02425449

Thamesown Properties Limited

Filleted Unaudited Financial Statements

30 March 2025

Thamesown Properties Limited

Statement of Financial Position

30 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		1,010,961	1,011,281

Current assets

Debtors	6	102,646	98,644
Cash at bank and in hand		8,278	63,795
		---------	---------
		110,924	162,439

Creditors: amounts falling due within one year	7	143,465		29,580
		---------		---------
Net current (liabilities)/assets			( 32,541)	132,859
			------------	------------
Total assets less current liabilities			978,420	1,144,140

Creditors: amounts falling due after more than one year	8	758,127	758,127
		---------	------------
Net assets		220,293	386,013
		---------	------------

Capital and reserves

Called up share capital	10,000	10,000
Revaluation reserve	850,300	850,300
Profit and loss account	( 640,007)	( 474,287)
	---------	---------
Shareholders funds	220,293	386,013
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Thamesown Properties Limited

Statement of Financial Position (continued)

30 March 2025

These financial statements were approved by the board of directors and authorised for issue on 31 July 2025 , and are signed on behalf of the board by:

Mr E Jacobson
Director

Company registration number: 02425449

Thamesown Properties Limited

Notes to the Financial Statements

Year ended 30 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, lumiere, Elstree Way, Borehamwood, Herts, WD6 1JH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Company reliance

The company is reliant on the continued support of WGT Limited as trustee of the Jacobson Settlement. WGT Limited has indicated that such support will be forthcoming and accordingly the financial statements have been prepared on a going concern basis.

Revenue recognition

The turnover was derived from the company's principal activity which was carried out wholly in the United Kingdom.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets - equipment

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Investment property

Investment Properties are ahown at the most recent valuation with any surplus being recognised in the revaluation reserve. Taxation Charge 2025 2024 £ £ Tax on result for the year 0 0 Adjustment in respect of prior period 3,455 0 Tax arising on prior period adjustment 76,872 0 ------- ------- 80,327 0

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Land and buildings	Equipment	Total
	£	£	£
Cost
At 31 March 2024 and 30 March 2025	1,010,000	3,062	1,013,062
	------------	-------	------------
Depreciation
At 31 March 2024	–	1,781	1,781
Charge for the year	–	320	320
	------------	-------	------------
At 30 March 2025	–	2,101	2,101
	------------	-------	------------
Carrying amount
At 30 March 2025	1,010,000	961	1,010,961
	------------	-------	------------
At 30 March 2024	1,010,000	1,281	1,011,281
	------------	-------	------------

Investment Properties are valued by the directors having consideration to current prices in an active market for similar property investments. Fair value at 30 March 2025 is represented by Valuation in 2024 850,300 Cost 159,700 ------------- 1,010,000

6. Debtors

	2025	2024
	£	£
Other debtors	102,646	98,644
	---------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	39
Corporation tax	80,328	–
Social security and other taxes	33	33
Other creditors	63,104	29,508
	---------	--------
	143,465	29,580
	---------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	758,127	758,127
	---------	---------

9. Prior period adjustment

In the course of preparing the Financial Statements for the year 30th March 2025 it has come to the attention of the directors that the amount of £159,700 previously classified as stock should have been reclassified as Investment Properties in the Financial Statements for the year ended 31st March 2013. The current and prior year figures have been amended accordingly to reflect a third party valuation of both properties at a combined value of £1,010,000 as well as the related Corporation Tax and interest charges that has resulted in changes to the reported earnings and net assets.

10. Directors' advances, credits and guarantees

During the year the company entered into the following guarantees on behalf of its directors:

	Maximum liability		Amounts paid/(liability incurred)
	2025	2024	2025	2024
	£	£	£	£
Mr E Jacobson	–	–	94,820	86,521
	----	----	--------	--------

11. Key management personnel and controlling party

The company's immediate parent company is Shorndean Limited, a company incorporated in the British Virgin Islands. It is the belief of the director that the ultimate controlling party is WGT Limited, as trustee of the Jacobson settlement, which is resident in Jersey. In 2006 the company had loaned the sum of £5,000 on an interest-free basis to Mrs L Jacobson, spouse of E Jacobson, a director. At the year end the balance remaining outstanding was £5,000 (2021: £5,000).