Thurlstone Property Limited Filleted accounts for Companies House (small and micro)

THURLSTONE PROPERTY LTD - Company Information

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COMPANY REGISTRATION NUMBER: 11559726

Thurlstone Property Limited

Filleted Unaudited Financial Statements

31 August 2019

Thurlstone Property Limited

Balance Sheet

31 August 2019

	31 Aug 19
Note	£	£

Fixed assets

Tangible assets	4		56,888

Current assets

Debtors	5	400
Cash at bank and in hand		1,000
		-------
		1,400
		-------
Net current assets			1,400
			--------
Total assets less current liabilities			58,288

Creditors: amounts falling due after more than one year	6	( 57,888)
		--------
Net assets		400
		--------

Capital and reserves

Called up share capital		400
		----
Shareholders funds		400
		----

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 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 profit and loss account has not been delivered.

For the period ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 27 May 2020 , and are signed on behalf of the board by:

Mr J Kitching
Director

Company registration number: 11559726

Thurlstone Property Limited

Notes to the Financial Statements

Period from 10 September 2018 to 31 August 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fernite Works, Coleford Road, Sheffield, South Yorkshire, S9 5NJ.

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.

Tangible assets

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and related parties.

4. Tangible assets

	Asset under construction
	£
Cost
At 10 September 2018	–
Additions	56,888
	--------
At 31 August 2019	56,888
	--------
Depreciation
At 10 September 2018 and 31 August 2019	–
	--------
Carrying amount
At 31 August 2019	56,888
	--------

5. Debtors

	31 Aug 19
	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	400
	----

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

	31 Aug 19
	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	57,888
	--------

The company has given security in the form of fixed and floating charges over its assets in favour of National Westminster Bank Plc.