Registered number
12497988
Thomas and Thomas Services Limited
Filleted Accounts
31 March 2023
Thomas and Thomas Services Limited
Registered number: 12497988
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,294 20,356
Current assets
Debtors 4 35,322 16,019
Cash at bank and in hand 43,090 35,788
78,412 51,807
Creditors: amounts falling due within one year 5 (43,418) (32,013)
Net current assets 34,994 19,794
Total assets less current liabilities 51,288 40,150
Creditors: amounts falling due after more than one year 6 (5,850) (8,450)
Net assets 45,438 31,700
Capital and reserves
Called up share capital 100 100
Profit and loss account 45,338 31,600
Shareholders' funds 45,438 31,700
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Thomas Edward Fenard
Director
Approved by the board on 28 September 2023
Thomas and Thomas Services Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, using the reduced balance method, as follows:
Plant and machinery 20%
Motor Vehicles 25%
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 6,149 22,700 28,849
Additions 1,017 - 1,017
At 31 March 2023 7,166 22,700 29,866
Depreciation
At 1 April 2022 1,880 6,613 8,493
Charge for the year 1,057 4,022 5,079
At 31 March 2023 2,937 10,635 13,572
Net book value
At 31 March 2023 4,229 12,065 16,294
At 31 March 2022 4,269 16,087 20,356
4 Debtors 2023 2022
£ £
Trade debtors 35,322 16,019
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 2,600 2,600
Trade creditors 1,002 2,476
Taxation and social security costs 33,937 24,195
Other creditors 5,879 2,742
43,418 32,013
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 5,850 8,450
7 Other information
Thomas and Thomas Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Erksdale Close
Penylan
Cardiff
CF23 5LF
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