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REGISTERED NUMBER: 03671336















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

NEIL THORNE ENGINEERING LIMITED

NEIL THORNE ENGINEERING LIMITED (REGISTERED NUMBER: 03671336)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Report of the Accountants 5

NEIL THORNE ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: N Thorne
Mrs B S M Thorne
I Sempers





REGISTERED OFFICE: Hillside House
Westway
Crayke
York
YO61 4TE





REGISTERED NUMBER: 03671336





ACCOUNTANTS: Smith Wilson Limited
2A Acomb Court
Acomb
York
North Yorkshire
YO24 3BJ

NEIL THORNE ENGINEERING LIMITED (REGISTERED NUMBER: 03671336)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 704,986 627,031
704,986 627,031

CURRENT ASSETS
Stocks 209,800 51,513
Debtors 6 761,141 910,962
Cash at bank 940,959 862,384
1,911,900 1,824,859
CREDITORS
Amounts falling due within one year 7 216,879 204,766
NET CURRENT ASSETS 1,695,021 1,620,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,400,007

2,247,124

PROVISIONS FOR LIABILITIES 18,127 18,127
NET ASSETS 2,381,880 2,228,997

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,380,880 2,227,997
SHAREHOLDERS' FUNDS 2,381,880 2,228,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 21 September 2023 and were signed on its behalf by:





N Thorne - Director


NEIL THORNE ENGINEERING LIMITED (REGISTERED NUMBER: 03671336)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Neil Thorne Engineering Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 5 (2022 - 4 ) .

NEIL THORNE ENGINEERING LIMITED (REGISTERED NUMBER: 03671336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 9,000
AMORTISATION
At 1 April 2022
and 31 March 2023 9,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 476,281 519,870 996,151
Additions - 140,353 140,353
Disposals - (32,500 ) (32,500 )
At 31 March 2023 476,281 627,723 1,104,004
DEPRECIATION
At 1 April 2022 - 369,120 369,120
Charge for year - 52,115 52,115
Eliminated on disposal - (22,217 ) (22,217 )
At 31 March 2023 - 399,018 399,018
NET BOOK VALUE
At 31 March 2023 476,281 228,705 704,986
At 31 March 2022 476,281 150,750 627,031

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 316,054 540,708
Other debtors 445,087 370,254
761,141 910,962

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 159,841 8,013
Taxation and social security 50,010 179,767
Other creditors 7,028 16,986
216,879 204,766

NEIL THORNE ENGINEERING LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
NEIL THORNE ENGINEERING LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Smith Wilson Limited
2A Acomb Court
Acomb
York
North Yorkshire
YO24 3BJ


21 September 2023