Thorne Holdings Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02111219 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

FOR

THORNE HOLDINGS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

7

DIRECTORS:

A J Thorne

D R Thorne

S K Thorne

SECRETARY:

D R Thorne

REGISTERED OFFICE:

1 Wine Street

Bristol

BS1 2BB

REGISTERED NUMBER:

02111219 (England and Wales)

ACCOUNTANTS:

PJE Chartered Accountants

4 Clifton Road

Clifton

Bristol

BS8 1AG

FIXED ASSETS

Tangible assets

2

6,303

7,416

Investments

3

1,000

Investment property

4

2,488,337

3,188,737

2,495,640

3,197,153

CURRENT ASSETS

Stocks

7,418

Debtors

696,551

582,971

Cash at bank

71,209

12,546

775,178

602,935

CREDITORS

Amounts falling due within one year

311,592

283,669

NET CURRENT ASSETS

463,586

319,266

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,959,226

3,516,419

CREDITORS

Amounts falling due after more than one
year

(432,778

)

(770,295

)

PROVISIONS FOR LIABILITIES

(80,687

)

(80,687

)

NET ASSETS

2,445,761

2,665,437

CAPITAL AND RESERVES

Called up share capital

5

1,000

Revaluation reserve

1,115,225

1,502,380

Profit and loss account

1,329,536

1,162,057

SHAREHOLDERS' FUNDS

2,445,761

2,665,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 April 2017 and were signed on its
behalf by:

D R Thorne - Director

1.	ACCOUNTING POLICIES

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group.

The company has therefore taken advantage of the exemption provided by section 398 of the

Companies Act 2006 not to prepare group accounts.

Accounting convention

The accounts have been prepared under the historical cost convention, modified to include the

revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for

Smaller Entities (effective April 2008).

Turnover

The turnover shown in the profit and loss account represents amounts receivable in respect of rental

income and proceeds from the sale of properties.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Investments

Investments are stated at cost less any provision made for impairment in value.

Investment property

In accordance with Statement of Standard Accounting Practice 19 "Accounting for Investment

Properties" no depreciation has been provided on the freehold investment properties.

The carrying value of the freehold investment properties is considered annually by the directors in the

light of known movements and trends in the property markets and taking account of the directors'

knowledge and experience of the marker place for such properties. Periodically, the directors consult

with professional advisors to confirm that their views are in line with those of the industry. The

directors consider that this accounting policy results in the accounts giving a true and fair view.

The aggregate surplus or deficit arising on revaluation is transferred to the investment revaluation

reserve, except where a deficit is deemed to represent a permanent impairment in value, in which case

it is charged to the profit and loss account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

24,668

DEPRECIATION

At 1 August 2015

17,252

Charge for year

1,113

At 31 July 2016

18,365

NET BOOK VALUE

At 31 July 2016

6,303

At 31 July 2015

7,416

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 August 2015

and 31 July 2016

1,000

NET BOOK VALUE

At 31 July 2016

1,000

At 31 July 2015

1,000

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 August 2015

3,188,737

Disposals

(490,400

)

Revaluations

(210,000

)

At 31 July 2016

2,488,337

NET BOOK VALUE

At 31 July 2016

2,488,337

At 31 July 2015

3,188,737

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

1,000

Ordinary

£1

1,000

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2016 set out on pages three to thirteen and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

PJE Chartered Accountants

4 Clifton Road

Clifton

Bristol

BS8 1AG

28 April 2017