Thamesown Properties Limited Small abridged accounts

THAMESOWN PROPERTIES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Thamesown Properties Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 02425449

Thamesown Properties Limited

Filleted Unaudited Abridged Financial Statements

31 March 2017

Thamesown Properties Limited

Abridged Financial Statements

Year ended 31 March 2017

Contents	Page

Officers and professional advisers	1

Accountants report to the director on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of financial position	3

Notes to the abridged financial statements	5

Thamesown Properties Limited

Officers and Professional Advisers

Director	E Jacobson

Company secretary	D A Jacobs

Registered office	1st Floor, lumiere
	Elstree Way
	Borehamwood
	Herts
	WD6 1JH

Accountants	SRJ Accounting Services Limited
	Accountants
	1st Floor, Lumiere
	Elstree Way
	Borehamwood
	Herts
	WD6 1JH

Thamesown Properties Limited

Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Thamesown Properties Limited

Year ended 31 March 2017

As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 March 2017, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

SRJ Accounting Services Limited Accountants

1st Floor, Lumiere Elstree Way Borehamwood Herts WD6 1JH

19 December 2017

Thamesown Properties Limited

Abridged Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		104	138

Current assets

Stocks	159,700	159,700
Debtors	68,194	73,209
Cash at bank and in hand	20	20
	---------	---------
	227,914	232,929

Creditors: amounts falling due within one year	57,864		98,293
	---------		---------
Net current assets		170,050	134,636
		---------	---------
Total assets less current liabilities		170,154	134,774

Creditors: amounts falling due after more than one year	734,926	699,926
	---------	---------
Net liabilities	( 564,772)	( 565,152)
	---------	---------

Capital and reserves

Called up share capital	10,000	10,000
Profit and loss account	( 574,772)	( 575,152)
	---------	---------
Shareholders deficit	( 564,772)	( 565,152)
	---------	---------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31 March 2017 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 abridged financial statements for the year 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 abridged financial statements .

Thamesown Properties Limited

Abridged Statement of Financial Position (continued)

31 March 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 19 December 2017 , and are signed on behalf of the board by:

E Jacobson
Director

Company registration number: 02425449

Thamesown Properties Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2017

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 abridged 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 abridged 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 abridged 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.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

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 year amounted to 1 (2016: 1 ).

5. Tangible assets

	£
Cost
At 1 April 2016 and 31 March 2017	1,373
	-------
Depreciation
At 1 April 2016	1,235
Charge for the year	34
	-------
At 31 March 2017	1,269
	-------
Carrying amount
At 31 March 2017	104
	-------
At 31 March 2016	138
	-------

6. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2017	2016
	£	£
E Jacobson	63,665	72,118
	--------	--------

7. 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 (2016: £5,000).

8. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.