Thame House Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10419117 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2019

for

Thame House Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E Farkash

O Bar

D S Katz

SECRETARY:

E Farkash

REGISTERED OFFICE:

Unit 2 Sayer House

Oxgate Lane

London

NW2 7JN

REGISTERED NUMBER:

10419117 (England and Wales)

ACCOUNTANTS:

Town & Forest

Chartered Accountants

Suite 203, Second Floor

China House

401 Edgware Road

London

NW2 6GY

FIXED ASSETS

Investment property

4

16,406,808

15,000,000

CURRENT ASSETS

Debtors

5

649,126

103,409

Cash at bank

206,872

29,440

855,998

132,849

CREDITORS

Amounts falling due within one year

6

119,991

2,046,240

NET CURRENT ASSETS/(LIABILITIES)

736,007

(1,913,391

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,142,815

13,086,609

CREDITORS

Amounts falling due after more than one year

7

(10,763,000

)

(7,434,853

)

PROVISIONS FOR LIABILITIES

9

(1,210,966

)

(1,050,786

)

NET ASSETS

5,168,849

4,600,970

CAPITAL AND RESERVES

Called up share capital

100

100

Non-distributable reserve

6,226,506

5,451,257

Retained earnings

(1,057,757

)

(850,387

)

5,168,849

4,600,970

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2020 and were signed on its behalf by:

E Farkash - Director

1.	STATUTORY INFORMATION

Thame House Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention as modified by the revaluation of certain assets, and in accordance with the accounting policies set

out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes. Turnover is recognised over the period of rental.

Investment property

In accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The

Financial Reporting Standard applicable in the UK and Republic of Ireland", investment properties are included

at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the

rate expected to apply when the property is sold.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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

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.

Trade debtors

Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are

written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and

the amount can be reliably estimated. Provisions are not recognised for future operating losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

15,000,000

Additions

471,378

Revaluations

935,430

At 31 October 2019

16,406,808

NET BOOK VALUE

At 31 October 2019

16,406,808

At 31 October 2018

15,000,000

Fair value at 31 October 2019 is represented by:

£

Valuation in 2019

935,430

Valuation in 2018

6,413,743

Cost

9,057,635

16,406,808

In the opinion of the directors, the market value of the property at the balance sheet date was £16,406,808 on an

open market basis.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

as restated

£

£

Trade debtors

29,182

12,235

Amounts owed by participating interests

30

-

Amounts owed by associates

604,175

84,939

Other debtors

4,648

-

VAT

11,091

6,235

649,126

103,409

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

as restated

£

£

Trade creditors

59,859

46,793

Amounts owed to participating interests

-

770,596

Amounts owed to associates

14,073

1,196,087

Other creditors

5,725

-

Rent deposit

38,834

10,298

Accrued expenses

1,500

1,500

Deferred income

-

20,966

119,991

2,046,240

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.19

31.10.18

as restated

£

£

Mortgage

10,763,000

7,434,853

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgage

10,763,000

7,434,853

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.19

31.10.18

as restated

£

£

Mortgage

10,763,000

7,434,853

OakNorth Bank PLC holds fixed and floating charges over Thame House Limited. The floating charge covers all

of the property or undertaking of the company. The charges also contain a negative pledge.

9.	PROVISIONS FOR LIABILITIES

31.10.19

31.10.18

as restated

£

£

Deferred tax

1,210,966

1,050,786

Deferred

tax

£

Balance at 1 November 2018

1,050,786

Provided during year

160,180

Balance at 31 October 2019

1,210,966