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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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THACKERAY PROPERTY SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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THACKERAY PROPERTY SERVICES LIMITED |
THACKERAY PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 02960622) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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THACKERAY PROPERTY SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
First Floor, Winston House |
349 Regents Park Road |
London |
N3 1DH |
THACKERAY PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 02960622) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Revaluation reserve | 7 |
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Retained earnings | 7 |
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SHAREHOLDERS' FUNDS |
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THACKERAY PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 02960622) |
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BALANCE SHEET - continued |
31 DECEMBER 2016 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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THACKERAY PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 02960622) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Thackeray Property Services Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
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Investment property |
Fixed asset investments comprise freehold and leasehold properties and are stated at open market value. |
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In accordance with the Financial Standards for Smaller Entities (effective April 2008), no depreciation is provided |
in respect of freehold properties or leasehold properties with over 20 years to expiry. This is a departure from the |
requirements of the Companies Act 2006, which required all properties to be depreciated. Such properties are not |
held for consumption but for investment and the director considers that to depreciate them would not give a true |
and fair view. Depreciation is only one amongst many factors reflected in the annual valuation of properties and |
accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified |
or quantified. The director considers that this policy results in the accounts giving a true and fair view. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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THACKERAY PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 02960622) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other Debtors |
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Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Tax |
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VAT | 2,688 | 173 |
Other creditors |
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Accruals and deferred income |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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7. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 January 2016 |
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3,686,649 |
Profit for the year |
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At 31 December 2016 |
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3,709,945 |
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8. | RELATED PARTY DISCLOSURES |
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During the year County Estate Pubs Limited managed the portfolio of investment properties held by the company |
and received a monthly commission and other fees for providing services which total £77,400.(2015:£78,200). |
Paul Rayden, the former director of the company, has a 50% interest in County Estate Pubs Limited. |
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At the balance sheet date Moreland Majestic Limited owed the company £1,189,144 (2015: £1,253,000) |
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At the balance sheet date Moreland Properties (UK) Limited owed the company £355,407 (2015: £352,407). |
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All the above loans have been repaid during the following year. |
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Moreland Properties (UK) Limited is a subsidiary of Moreland Majestic Limited. |
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The above balances arose from normal intergroup funding transactions. |
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9. | POST BALANCE SHEET EVENTS |
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During the following year, the assets of the company have been transferred to Moreland Pub (UK) Limited. |
THACKERAY PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 02960622) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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10. | ULTIMATE CONTROLLING PARTY |
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The parent company is Moreland Majestic Limited, a company incorporated in Gibraltar. The ultimate controlling |
party are the trustees of the Dahlia Trust, a discretionary trust, that owns the whole of the share capital of |
Moreland Majestic Limited. |
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11. | FIRST YEAR ADOPTION |
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There were no significant changes for the company as a result of the transition to FRS 102 Section 1A. |
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