R.E Thornber Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00945673 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

R.E. THORNBER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R E Thornber

Mrs J A Thornber

SECRETARY:

Mrs J A Thornber

REGISTERED OFFICE:

Dean Hey House

Cragg Vale

Mytholmroyd

Hebden Bridge

West Yorkshire

HX7 5RU

REGISTERED NUMBER:

00945673 (England and Wales)

ACCOUNTANTS:

Cresswells

Barclays Bank Chambers

Market Street

Hebden Bridge

HX7 6AD

BANKERS:

National Westminster Bank plc

2 Crown Street

Hebden Bridge

West Yorkshire

HX7 8EB

FIXED ASSETS

Tangible assets

4

64,562

35,764

Investment property

5

250,000

209,685

314,562

245,449

CURRENT ASSETS

Debtors

6

119,119

83,301

Investments

7

854,366

784,975

Cash at bank

222,855

76,984

1,196,340

945,260

CREDITORS

Amounts falling due within one year

8

410,112

202,324

NET CURRENT ASSETS

786,228

742,936

TOTAL ASSETS LESS CURRENT LIABILITIES

1,100,790

988,385

PROVISIONS FOR LIABILITIES

9

16,752

6,436

NET ASSETS

1,084,038

981,949

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

35,786

-

Retained earnings

11

1,048,152

981,849

SHAREHOLDERS' FUNDS

1,084,038

981,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 November 2017 and were signed on its behalf by:

R E Thornber - Director

1.	STATUTORY INFORMATION

R.E. Thornber 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.

Turnover

Turnover represents net invoiced sales of managements service, excluding value added tax.

Tangible fixed assets

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

Improvements to property

-

over 10 years

Fixtures and fittings

-

over 3 to 10 years

Motor vehicles

-

over 4 to 10 years

Investment property

Investment properties are included at their most recent valuation. Any aggregate surplus or

deficit arising from changes in market value is transferred to a revaluation reserve.No depreciation

is provided on investment properties.

Depreciation is not provided in respect of investment properties. This treatment is a departure

from the Companies Act 2006 concerning the depreciation of fixed assets. However, such

properties are not held for consumption but for investment and the director considers systematic

annual depreciation would be inappropriate and that this policy is necessary for the accounts to

give a true and fair view. Depreciation is only one of the many factors reflected in the valuation

and the amount which may otherwise have been shown cannot be separately identified or

quantified.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2016

40,411

11,366

99,683

31,400

182,860

Additions

-

36,050

-

11,800

47,850

At 31 March 2017

40,411

47,416

99,683

43,200

230,710

DEPRECIATION

At 1 April 2016

40,410

947

94,656

11,083

147,096

Charge for year

-

7,113

3,398

8,541

19,052

At 31 March 2017

40,410

8,060

98,054

19,624

166,148

NET BOOK VALUE

At 31 March 2017

1

39,356

1,629

23,576

64,562

At 31 March 2016

1

10,419

5,027

20,317

35,764

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

209,685

Revaluations

40,315

At 31 March 2017

250,000

NET BOOK VALUE

At 31 March 2017

250,000

At 31 March 2016

209,685

Fair value at 31 March 2017 is represented by:

£

Valuation in 2017

40,315

Cost

209,685

250,000

If investment property had not been revalued it would have been included at the following

historical cost:

2017

2016

£

£

Cost

209,685

209,685

Investment property was valued on an open market basis on 31 March 2017 by the directors .

6.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

12,204

12,315

VAT

45,006

1,769

Prepayments

11,909

19,217

69,119

33,301

Amounts falling due after more than one year:

Loan - Craggs Energy Limited

50,000

50,000

Aggregate amounts

119,119

83,301

7.	CURRENT ASSET INVESTMENTS

2017

2016

£

£

Other

854,366

784,975

2017

2016

£

£

Craggs Country Business Park LLP

277,371

205,045

R J Properties

576,995

579,930

854,366

784,975

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

106,118

12,182

Tax

4,798

20,360

Social security and other taxes

40

75

R E T (No 1) Limited

83,854

-

Directors' current accounts

194,577

166,220

Accrued expenses

20,725

3,487

410,112

202,324

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

16,752

6,436

Deferred

tax

£

Balance at 1 April 2016

6,436

Charge to Income Statement during year

10,316

Balance at 31 March 2017

16,752

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2016

981,849

-

981,849

Profit for the year

150,589

150,589

Dividends

(48,500

)

(48,500

)

Fair value adjustment

(35,786

)

35,786

-

At 31 March 2017

1,048,152

35,786

1,083,938

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £48,500 (2016 - £28,000) were paid to the directors .

The company operates at premises owned by a director. A contribution of £120 (2016 £835) has

been made in the year by the company for lighting and heating costs.

A director charged the company interest of £17,000 (2016 - nil).

A director has given a personal guarantee in respect of the company's overdraft facilities.

Debtors include a loan to Craggs Energy Limited of £50,000 (2016 £50,000).The director's are

directors and shareholder in this company.

Creditors include £83,854 (2016 - nil) due to RET(No)1 Limited - a company in which a director is

a shareholder and director in.