| |
|
2026 |
|
2025 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
1,744,767 |
|
|
1,275,419 |
| Current assets |
|
109,439 |
|
|
34,323 |
|
| Creditors: amount falling due within one year |
|
(1,490,270) |
|
|
(1,265,328) |
|
|
Net current assets/(liabilities)
|
|
|
(1,380,831)
|
|
|
(1,231,005)
|
|
Total assets less current liabilities
|
|
|
363,936 |
|
|
44,414 |
| Creditors: amount falling due after more than one year |
|
|
(631,340) |
|
|
0 |
| Accruals and deferred income |
|
|
(4,392) |
|
|
(11,942) |
|
Net assets/(liabilities)
|
|
|
(271,796) |
|
|
32,472 |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(271,796) |
|
|
32,472 |
| |
NOTES TO THE ACCOUNTS
General Information
Thorn & Co Ltd is a private company, limited by shares, registered in England and Wales, registration number 08130615, registration address 33 The Ridgeway, London, England, N3 2PG.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the company.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2025 : 1).
|
|
Costs relating to a dispute - £425,000
Other charges of £567,344 in the Income Statement includes Exceptional item of £425,000 in respect of a dispute cost.
During the year the Company paid £425,000 in full and final settlement of a dispute with the former tenant of 50 Ballards Lane, Finchley. The Company is the freehold owner. On 28 October 2025 it exercised its contractual right of re-entry for non-payment of sums reserved as rent, and the leases determined on that date. The former tenant disputed the lawfulness of the forfeiture and claimed a declaration that it was unlawful or, alternatively, relief from forfeiture. The dispute was compromised on 27 February 2026 with mutual releases, the claim being discontinued with no order as to costs. The settlement conferred no new asset, interest or right on the Company. Its freehold interest immediately after the settlement was identical in extent to its interest immediately before it, the payment serving only to maintain that existing position against challenge. The payment is charged to the profit and loss account as revenue expenditure incurred wholly and exclusively for the purposes of the Company's property business, and is disclosed separately by reason of its size and its non-recurring nature.
|
| 4. |
Creditors
Creditors: amount falling due within one year £1,490,270 (2025 - £1,265,328) includes interest-free Directors Current Account balance of £835,400 (2025 - £830,819).
Included in Creditors: amount falling due after more than one year £631,340 (2025- £0 ) is bank loan of £631,340.
|
For the year ended 31 July 2026 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 19 August 2026 and were signed on its behalf by: --------------------------------
Sandeep Rasiklal Khiroya
Director |
2
|