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REGISTERED NUMBER: 01288858 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Ivor Thomas (Amusements) Limited

Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ivor Thomas (Amusements) Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: P V Thomas
Mrs J M Thomas





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: 01288858 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,544,024 631,023

CURRENT ASSETS
Debtors 5 679,762 914,391
Cash at bank 156,351 536,714
836,113 1,451,105
CREDITORS
Amounts falling due within one year 6 (787,361 ) (417,471 )
NET CURRENT ASSETS 48,752 1,033,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,592,776

1,664,657

CREDITORS
Amounts falling due after more than one year 7 (536,090 ) (533,066 )

PROVISIONS FOR LIABILITIES 8 (53,382 ) (103,611 )
NET ASSETS 1,003,304 1,027,980

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 1,003,254 1,027,930
SHAREHOLDERS' FUNDS 1,003,304 1,027,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

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

Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Balance Sheet - continued
30 April 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





P V Thomas - Director


Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

Ivor Thomas (Amusements) 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 functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Dividend income is recognised when the right to receive payment is established. Income from fixed asset investments is recognised when the right to it has been established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on cost and 10% on cost

Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 contributes to personal pension schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 21 ) .

Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 1,499,160
Additions 1,139,766
Disposals (377,570 )
At 30 April 2023 2,261,356
DEPRECIATION
At 1 May 2022 868,137
Charge for year 216,178
Eliminated on disposal (366,983 )
At 30 April 2023 717,332
NET BOOK VALUE
At 30 April 2023 1,544,024
At 30 April 2022 631,023

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2022 351,750
Additions 265,915
At 30 April 2023 617,665
DEPRECIATION
At 1 May 2022 51,064
Charge for year 92,069
At 30 April 2023 143,133
NET BOOK VALUE
At 30 April 2023 474,532
At 30 April 2022 300,686

Ivor Thomas (Amusements) Limited (Registered number: 01288858)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 97,996 167,001
Other debtors 581,766 747,390
679,762 914,391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 100,000 100,000
Hire purchase contracts 133,889 86,069
Trade creditors 532,360 197,110
Taxation and social security 16,232 29,412
Other creditors 4,880 4,880
787,361 417,471

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 250,135 343,566
Hire purchase contracts 285,955 189,500
536,090 533,066

8. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 53,382 103,611

Deferred
tax
£   
Balance at 1 May 2022 103,611
Credit to Statement of Income and Retained Earnings during year (50,229 )
Balance at 30 April 2023 53,382

9. RELATED PARTY DISCLOSURES

As at 30 April 2023 £519,746 (2022: £688,549) was owed from companies connected with key management personnel. The loans are interest free, repayable on demand and included within other debtors falling due within one year.