3 false false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,121 1,936 624 2,560 561 1,185 xbrli:pure xbrli:shares iso4217:GBP 10684936 2021-04-01 2022-03-31 10684936 2022-03-31 10684936 2021-03-31 10684936 2020-04-01 2021-03-31 10684936 2021-03-31 10684936 2020-03-31 10684936 core:FurnitureFittings 2021-04-01 2022-03-31 10684936 bus:Director1 2021-04-01 2022-03-31 10684936 core:FurnitureFittings 2021-03-31 10684936 core:FurnitureFittings 2022-03-31 10684936 core:WithinOneYear 2022-03-31 10684936 core:WithinOneYear 2021-03-31 10684936 core:ShareCapital 2022-03-31 10684936 core:ShareCapital 2021-03-31 10684936 core:RetainedEarningsAccumulatedLosses 2022-03-31 10684936 core:RetainedEarningsAccumulatedLosses 2021-03-31 10684936 core:FurnitureFittings 2021-03-31 10684936 bus:SmallEntities 2021-04-01 2022-03-31 10684936 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 10684936 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 10684936 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 10684936 bus:FullAccounts 2021-04-01 2022-03-31
COMPANY REGISTRATION NUMBER: 10684936
Thomas and Partners (Faversham) Limited
Filleted Unaudited Financial Statements
31 March 2022
Thomas and Partners (Faversham) Limited
Financial Statements
Year ended 31 March 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Thomas and Partners (Faversham) Limited
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
561
1,185
Current assets
Debtors
6
6,250
5,232
Cash at bank and in hand
532
6,643
-------
--------
6,782
11,875
Creditors: amounts falling due within one year
7
94,356
98,132
--------
--------
Net current liabilities
87,574
86,257
--------
--------
Total assets less current liabilities
( 87,013)
( 85,072)
--------
--------
Net liabilities
( 87,013)
( 85,072)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 87,113)
( 85,172)
--------
--------
Shareholders deficit
( 87,013)
( 85,072)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Thomas and Partners (Faversham) Limited
Statement of Financial Position (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 8 November 2023 , and are signed on behalf of the board by:
Mr T Dean
Director
Company registration number: 10684936
Thomas and Partners (Faversham) Limited
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 60 Castle Street, Dover, United Kingdom, CT16 1PJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 3 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 April 2021 and 31 March 2022
3,121
-------
Depreciation
At 1 April 2021
1,936
Charge for the year
624
-------
At 31 March 2022
2,560
-------
Carrying amount
At 31 March 2022
561
-------
At 31 March 2021
1,185
-------
6. Debtors
2022
2021
£
£
Other debtors
6,250
5,232
-------
-------
7. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
15,713
18,700
Social security and other taxes
3,609
2,249
Other creditors
75,034
77,183
--------
--------
94,356
98,132
--------
--------
8. Related party transactions
At the year end the company owed £48,065 (2021: £55,398) to the directors, their close family members and other related parties.