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REGISTERED NUMBER: 07365131 (England and Wales)















V J THOMAS AND SON LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






V J THOMAS AND SON LTD (REGISTERED NUMBER: 07365131)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


V J THOMAS AND SON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: A G Thomas
J E Thomas
E G Thomas
C M L Thomas
G R Thomas





SECRETARY: E G Thomas





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 07365131 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

V J THOMAS AND SON LTD (REGISTERED NUMBER: 07365131)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,347,200 2,238,927

CURRENT ASSETS
Stocks 3,113,550 3,169,650
Debtors 5 932,990 871,785
Cash at bank 367,626 325
4,414,166 4,041,760
CREDITORS
Amounts falling due within one year 6 2,287,850 2,904,710
NET CURRENT ASSETS 2,126,316 1,137,050
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,473,516

3,375,977

CREDITORS
Amounts falling due after more than one
year

7

3,640,608

2,833,363
NET ASSETS 1,832,908 542,614

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,832,808 542,514
SHAREHOLDERS' FUNDS 1,832,908 542,614

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

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

V J THOMAS AND SON LTD (REGISTERED NUMBER: 07365131)

BALANCE SHEET - continued
31ST MARCH 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17th October 2023 and were signed on its behalf by:




A G Thomas - Director



E G Thomas - Director


V J THOMAS AND SON LTD (REGISTERED NUMBER: 07365131)

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

1. STATUTORY INFORMATION

V J Thomas and Son Ltd 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on cost
Plant and machinery - 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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 33 (2022 - 30 ) .

V J THOMAS AND SON LTD (REGISTERED NUMBER: 07365131)

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

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1st April 2022 663,195 2,900,044 3,563,239
Additions 39,835 1,684,173 1,724,008
Disposals - (175,500 ) (175,500 )
At 31st March 2023 703,030 4,408,717 5,111,747
DEPRECIATION
At 1st April 2022 86,249 1,238,063 1,324,312
Charge for year 8,722 483,365 492,087
Eliminated on disposal - (51,852 ) (51,852 )
At 31st March 2023 94,971 1,669,576 1,764,547
NET BOOK VALUE
At 31st March 2023 608,059 2,739,141 3,347,200
At 31st March 2022 576,946 1,661,981 2,238,927

Included in the fixed assets are items with a book value of £1,845,250 (2022 - £760,442) which are held under hire purchase agreements. These items incurred depreciation of £350,556 (2022 - £134,194) during the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 817,728 775,211
VAT 113,365 94,725
Prepayments 1,897 1,849
932,990 871,785

V J THOMAS AND SON LTD (REGISTERED NUMBER: 07365131)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 85,285 292,405
Hire purchase contracts 497,848 336,061
Trade creditors 702,429 756,738
Loan from E G, C M L and
G R Thomas 970,464 1,484,940
Accrued expenses 31,824 34,566
2,287,850 2,904,710

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - more than 1 year 2,528,128 2,352,222
Hire purchase contracts 1,112,480 481,141
3,640,608 2,833,363

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

The company owes £970,464 to V J Thomas and Son a partnership in which all the directors are partners (2022 - £1,484,940) .

The company is controlled by A G Thomas who with his close family own 100% of the shares.