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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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Thunder Properties Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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Thunder Properties Limited |
Thunder Properties Limited (Registered number: 08426047) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Thunder Properties Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Suite 203, 2nd Floor |
China House |
401 Edgware Road |
London |
NW2 6GY |
Thunder Properties Limited (Registered number: 08426047) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his 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 Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Thunder Properties Limited (Registered number: 08426047) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Thunder Properties Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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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, and in accordance with the accounting policies set out below. |
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Going concern |
At 31 March 2018, the balance sheet showed net current liabilities of £1,512,373 (2017 - £1,532,075) and a net |
deficit of £67,035 (2017 - £105,757). The director has given an undertaking to financially support the company |
for at least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this |
time. On this basis, the director considers it appropriate to prepare the financial statements on the going concern |
basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received, excluding discounts, rebates, value added |
tax and other sales taxes. Turnover is recognised over the period of rental. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Investment property |
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", investment properties are revalued |
annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in |
respect of investment properties. |
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The Companies Act 2006 requires all properties to be depreciated. However this requirement conflicts with the |
generally accepted accounting principle set out in section 1A "Small Entities" of Financial Reporting Standard |
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The director considers |
that because the property is not held for consumption but for its investment potential, to depreciate it would not |
give true and fair view, and that is necessary to adopt section 1A "Small Entities" of Financial Reporting |
Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" in order to give |
true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount |
which might otherwise have been shown cannot be separately identified or quantified. |
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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. |
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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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Thunder Properties Limited (Registered number: 08426047) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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Provisions and accruals |
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and |
the amount can be reliably estimated. Provisions are not recognised for future operating losses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
COST |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Thunder Properties Limited (Registered number: 08426047) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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5. | INVESTMENT PROPERTY - continued |
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In the opinion of the directors, the market value of the properties at the balance sheet date was £1,428,264 on an |
open market basis. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Amounts owed to group undertakings |
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Tax |
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Accrued expenses |
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