Year Ended
Registration number:
Thornwood Investments Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Thornwood Investments Limited
Company Information
Directors |
Mr A A Dunn Mr A J A Dunn Mrs A R Dunn Mrs S P Dunn Mr N D Parker |
Registered office |
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Accountants |
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Thornwood Investments Limited
Balance Sheet
31 March 2022
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2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Shareholders' funds |
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Thornwood Investments Limited
Balance Sheet
31 March 2022
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 05683298
Thornwood Investments Limited
Statement of Changes in Equity
Year Ended 31 March 2022
Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 April 2021 |
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Profit for the year |
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- |
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Total comprehensive income |
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At 31 March 2022 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 April 2020 |
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Loss for the year |
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- |
( |
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Total comprehensive income |
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At 31 March 2021 |
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Thornwood Investments Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable fuure. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Thornwood Investments Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold land and buildings |
60 years straight line |
Fixtures, fittings and equipments |
20% straight line |
Computer equipment |
25% straight line |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Interests in subsidaries and jointly controlled entities are intially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity being neither a subsidary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Thornwood Investments Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Amounts owed to understanding; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Thornwood Investments Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2021 |
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Additions |
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Disposals |
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At 31 March 2022 |
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- |
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Depreciation |
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At 1 April 2021 |
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- |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Included within the net book value of land and buildings above is £754,362 (2021 - £746,803) in respect of long leasehold land and buildings.
Investments |
2022 |
2021 |
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Investments in subsidiaries |
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Investments in associates |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2021 |
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Provision |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Thornwood Investments Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Associates |
£ |
Cost |
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Additions |
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Provision |
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Carrying amount |
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At 31 March 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
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Subsidiary undertakings |
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The Estate Office, Wield Park, Upper Wield, Alresford, England, SO249FX England and Wales |
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The Estate Office Wield Park, Upper Wield, Alresford, England, SO24 9FX England and Wales |
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First Floor, Quary 2, 139 Fountainbridge, Edinburgh, Scotland, EH3 9QG Scotland |
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Associates |
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Jubliee House, 2 Jubliee Place, London, United Kingdom, SW3 3TQ |
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United Kingdom |
Thornwood Investments Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Debtors |
Note |
2022 |
2021 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Less non-current portion |
( |
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Details of non-current trade and other debtors
£9,412,599 (2021 - £9,462,599) of Amounts owed by group undertakings is classified as non current.
Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Amounts owed to group undertakings |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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5,624,880 |
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5,624,880 |
Related party transactions |
Summary of transactions with entities with joint control or significant interest
The company received a profit share of £242,875 (2021 - £458,961) from Finchatton LLPs.
Summary of transactions with other related parties
Thornwood Investments Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2022
Amounts due from the entities under common control is £13 (2021 - £13).
Parent and ultimate parent undertaking |
The company's immediate parent is