Thamesown Properties Limited Filleted accounts for Companies House (small and micro)

THAMESOWN PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02425449

Thamesown Properties Limited

Filleted Unaudited Financial Statements

30 March 2021

Thamesown Properties Limited

Statement of Financial Position

30 March 2021

	30 Mar 21		31 Mar 20
Note	£	£	£

Fixed assets

Tangible assets	5		33	43

Current assets

Stocks		159,700	159,700
Debtors	6	66,524	70,633
Cash at bank and in hand		60,881	28,956
		---------	---------
		287,105	259,289

Creditors: amounts falling due within one year	7	30,802		30,500
		---------		---------
Net current assets			256,303	228,789
			---------	---------
Total assets less current liabilities			256,336	228,832

Creditors: amounts falling due after more than one year	8	758,127	758,127
		---------	---------
Net liabilities		( 501,791)	( 529,295)
		---------	---------

Capital and reserves

Called up share capital	10,000	10,000
Profit and loss account	( 511,791)	( 539,295)
	---------	---------
Shareholders deficit	( 501,791)	( 529,295)
	---------	---------

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 Section 1A of 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 statement of income and retained earnings has not been delivered.

For the period ending 30 March 2021 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 financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Thamesown Properties Limited

Statement of Financial Position (continued)

30 March 2021

These financial statements were approved by the board of directors and authorised for issue on 11 March 2022 , and are signed on behalf of the board by:

Mr E Jacobson
Director

Company registration number: 02425449

Thamesown Properties Limited

Notes to the Financial Statements

Period from 1 April 2020 to 30 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, lumiere, Elstree Way, Borehamwood, Herts, WD6 1JH.

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.

Company reliance

The company is reliant on the continued support of WGT Limited as trustee of the Jacobson Settlement. WGT Limited has indicated that such support will be forthcoming and accordingly the financial statements have been prepared on a going concern basis.

Revenue recognition

The turnover was derived from the company's principal activity which was carried out wholly in the United Kingdom.

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 1 (2020: 1 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2020 and 30 March 2021	1,373	1,373
	-------	-------
Depreciation
At 1 April 2020	1,330	1,330
Charge for the period	10	10
	-------	-------
At 30 March 2021	1,340	1,340
	-------	-------
Carrying amount
At 30 March 2021	33	33
	-------	-------
At 31 March 2020	43	43
	-------	-------

6. Debtors

	30 Mar 21	31 Mar 20
	£	£
Other debtors	66,524	70,633
	--------	--------

7. Creditors: amounts falling due within one year

	30 Mar 21	31 Mar 20
	£	£
Social security and other taxes	826	779
Other creditors	29,976	29,721
	--------	--------
	30,802	30,500
	--------	--------

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

	30 Mar 21	31 Mar 20
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	758,127	758,127
	---------	---------

9. Directors' advances, credits and guarantees

During the period the directors entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	30 Mar 21	31 Mar 20
	£	£
Mr E Jacobson	–	67,091
	----	--------

During the period the company entered into the following guarantees on behalf of its directors:

	Maximum liability		Amounts paid/(liability incurred)
	30 Mar 21	31 Mar 20	30 Mar 21	31 Mar 20
	£	£	£	£
Mr E Jacobson	–	–	65,245	–
	----	----	--------	----

10. Key management personnel and controlling party

The company's immediate parent company is Shorndean Limited, a company incorporated in the British Virgin Islands. It is the belief of the director that the ultimate controlling party is WGT Limited, as trustee of the Jacobson settlement, which is resident in Jersey. In 2006 the company had loaned the sum of £5,000 on an interest-free basis to Mrs L Jacobson, spouse of E Jacobson, a director. At the year end the balance remaining outstanding was £5,000 (2020: £5,000).