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Registered number: 14900981
THAMESGARD LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MAY 2025
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THAMESGARD LIMITED
REGISTERED NUMBER: 14900981
BALANCE SHEET
AS AT 31 MAY 2025
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RESTATED Period ended 2024
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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THAMESGARD LIMITED
REGISTERED NUMBER: 14900981
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2025
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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Jiquan HUANG
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The notes on pages 3 to 8 form part of these financial statements.
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THAMESGARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
Thamesgard Limited is a private company limited by shares registered in England and Wales. The address of the Company's registered office is 124 Finchley Road, London, United Kingdom, NW3 5JS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The directors, having reviewed the Company's financial performance and position up to the date these financial statements were approved, are of the opinion that the Company has available at its disposal, adequate financial resources to continue in operational existence for the foreseeable future.
While there will always remain inherent uncertainty, the directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore consider it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue comprises turnover recognised by the Company in respect of rental income receivable during the year with amounts recognised in accordance with the underlying contractual arrangement on a straight line basis over the term of occupancy and is measured at the fair value of the consideration receivable.
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THAMESGARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
Finance costs are charged to profit or loss 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.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. After initial recognition, investment properties are carried at fair value derived from current market rent and investment property yields for comparable real estate; adjusted, where considered necessary, for differences in either the nature, location and/or condition of the specific real estate asset. No depreciation is provided against investment properties with changes in fair value recognised through profit or loss.
In accordance with Financial Reporting Standard 102, the fair value assessment is conducted annually by the director.
Short-term debtors are measured at transaction price, less any impairment.
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THAMESGARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
2.Accounting policies (continued)
Creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
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Charge for the year on owned assets
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THAMESGARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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Long term leasehold investment property
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The 2025 valuations were made by director, on an open market value for existing use basis.
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RESTATED Period ended 2024
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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RESTATED Period ended 2024
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Accruals and deferred income
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THAMESGARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
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Creditors: Amounts falling due after more than one year
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RESTATED Period ended 2024
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The company has received a loan of £8,000,000 from Weiss Media Limited. The loan is subject to an interest rate of 5% per annum, unsecure and have no fixed repayment terms.
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Analysis of the maturity of loans is given below:
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RESTATED Period ended 2024
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Amounts falling due after more than 5 years
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THAMESGARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
In the current financial statements, prior year adjustments have been made to recognise unpaid loan interest of £368,219 to Weiss Media Limited as an expense and liability and to reclassify a loan of £8,000,000 from Mr Huang as a non-current liability for the period ended 31 May 2024.
The impact on the financial statements for the year ended 31 May 2024 is as follows:
Statement of Financial Position
Other creditors due within one year decreased by £7,631,781 (representing £8,000,000 reclassified less unpaid loan interest of £368,219)
Other loans due after more than five years increased by £8,000,000
Loan interest payable and other creditors increased by £368,219
As a result of this adjustment, the loss for 2024 increased to £426,299.
These corrections do not affect the profit or loss for the current period but ensures the accurate presentation of other creditors and retained earnings as at the prior year end.
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Related party transactions
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There is a non-interest bearing loan of £11,380,733 (2024: £4,931,280) due to the director, Mr Jiquan Huang.
This loan is interest-free, unsecured, and repayable on demand.
The loan is included in creditors due within one year, although the director will not seek repayment until such time as the company's finances allow.
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The ultimate controlling party during the period were Mr Jiquan Huang.
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