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Registered number: 09537709
THORNREST PROPERTIES LTD
UNAUDITED
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
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THORNREST PROPERTIES LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THORNREST PROPERTIES LTD FOR THE YEAR ENDED 31 DECEMBER 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thornrest Properties Ltd for the year ended 31 December 2025 which comprise the profit and loss account, the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the director in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Thornrest Properties Ltd and state those matters that we have agreed to state to the director of Thornrest Properties Ltd in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thornrest Properties Ltd and its director for our work or for this report.
It is your duty to ensure that Thornrest Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thornrest Properties Ltd. You consider that Thornrest Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Thornrest Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Cooper Parry Advisory Limited
Broadwalk House
5th Floor
5 Appold Street
Broadgate
London
EC2A 2AG
Date: 17 September 2026
Page 1
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THORNREST PROPERTIES LTD
REGISTERED NUMBER: 09537709
BALANCE SHEET
AS AT 31 DECEMBER 2025
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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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Provisions for liabilities
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Page 2
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THORNREST PROPERTIES LTD
REGISTERED NUMBER: 09537709
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 comprehensive income 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:
The notes on pages 4 to 7 form part of these financial statements.
Page 3
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THORNREST PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Thornrest Properties Ltd is a private company, limited by shares, domiciled in England and Wales, registration number 09537709. The registered office is Wellington Manor, 80-96 Wellington Street, Luton, LU1 5FD.
The financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for the year ended 31 December 2025 (2024: year ended 31 December 2024).
2.Accounting policies
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Basis of preparing the 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:
Turnover represents rent receivable from letting of its investment property.
Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard 102 and are not depreciated. This treatment is contrary to the Companies' Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Page 4
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THORNREST PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.
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The average monthly number of employees during the year was 1 (2024:1).
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Freehold investment property
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Debtors: amounts falling due within one year
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Bank loans and overdrafts
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Taxation and social security
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Accruals and deferred income
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Page 5
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THORNREST PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: amounts falling due after more than one year
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The following secured debts are included within creditors:
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Details of security provided:
Lloyds Bank PLC holds a fixed and floating charge over the assets of the company.
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Page 6
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THORNREST PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Deferred tax charged in the profit and loss account for the period
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Allotted, called up and fully paid
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100 (2024:100) Ordinary shares of £1 each
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Related party transactions
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At the balance sheet date, the company owed £1,906,104 (2024: £1,220,744) to companies under common control.
At the balance sheet date, the company was owed £401,657 (2024: £401,657) from a company under common control.
Included in other creditors is £1,585,221 (2024: £2,315,695) owed to the director.
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