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REGISTERED NUMBER: 01234299 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 November 2021

for

Thomson Schultz Limited

Thomson Schultz Limited (Registered number: 01234299)






Contents of the Financial Statements
for the Year Ended 30 November 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thomson Schultz Limited

Company Information
for the Year Ended 30 November 2021







DIRECTORS: B G Thomson
Mrs J A Thomson
L THOMSON
S Thomson





SECRETARY: Mrs J A Thomson





REGISTERED OFFICE: Unit 6h Beaver Industrial Park
Brent Road
Southall
Middlesex
UB2 5FB





REGISTERED NUMBER: 01234299 (England and Wales)





ACCOUNTANTS: Garside and Co. Limited
Suite 631, Linen Hall
162-168 Regent Street
London
W1B 5TG

Thomson Schultz Limited (Registered number: 01234299)

Balance Sheet
30 November 2021

30.11.21 30.11.20
Notes £    £   
FIXED ASSETS
Tangible assets 4 22,047 203,486

CURRENT ASSETS
Stocks 19,000 19,000
Debtors 5 72,038 48,808
Cash at bank and in hand 289,675 27,780
380,713 95,588
CREDITORS
Amounts falling due within one year 6 (64,315 ) (156,182 )
NET CURRENT ASSETS/(LIABILITIES) 316,398 (60,594 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,445

142,892

CREDITORS
Amounts falling due after more than one year 7 (172,324 ) (254,820 )
NET ASSETS/(LIABILITIES) 166,121 (111,928 )

CAPITAL AND RESERVES
Called up share capital 501 501
Capital Redemption Reserve 8 499 499
Retained earnings 165,121 (112,928 )
166,121 (111,928 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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.

Thomson Schultz Limited (Registered number: 01234299)

Balance Sheet - continued
30 November 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 5 September 2022 and were signed on its behalf by:





B G Thomson - Director


Thomson Schultz Limited (Registered number: 01234299)

Notes to the Financial Statements
for the Year Ended 30 November 2021

1. STATUTORY INFORMATION

Thomson Schultz 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant and machinery: 25% on the reducing balance
Motor vehicles: 25% on the reducing balance

Government grants
Government grants relating to costs are deferred and recognised in the income statement over the period necessary to match them with the costs that they are intended to compensate. Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs, are recognised in the income statement in the period in which they become receivable.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Thomson Schultz Limited (Registered number: 01234299)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 16 ) .

Thomson Schultz Limited (Registered number: 01234299)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2020 320,738 165,436 486,174
Additions - 5,528 5,528
Disposals (320,738 ) - (320,738 )
At 30 November 2021 - 170,964 170,964
DEPRECIATION
At 1 December 2020 141,119 141,569 282,688
Charge for year - 7,348 7,348
Eliminated on disposal (141,119 ) - (141,119 )
At 30 November 2021 - 148,917 148,917
NET BOOK VALUE
At 30 November 2021 - 22,047 22,047
At 30 November 2020 179,619 23,867 203,486

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Trade debtors 57,963 27,335
Other debtors 14,075 21,473
72,038 48,808

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Bank loans and overdrafts - 12,000
Trade creditors 24,538 56,183
Taxation and social security 16,340 68,457
Other creditors 23,437 19,542
64,315 156,182

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.21 30.11.20
£    £   
Bank loans 44,676 57,652
Other creditors 127,648 197,168
172,324 254,820

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 1 year 44,676 57,652

Thomson Schultz Limited (Registered number: 01234299)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The Other creditors balance is owed to the Directors of the Company. This is fully repayable on demand and non-interest bearing.

8. RESERVES
Capital
Redemption
Reserve
£   
At 1 December 2020
and 30 November 2021 499