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REGISTERED NUMBER: 05768079 (England and Wales)



















THOMAS CARTER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 10,250 14,666
10,250 14,666

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 8,706 34,940
Cash at bank 338,217 451,462
351,923 491,402
CREDITORS
Amounts falling due within one year 7 89,660 163,665
NET CURRENT ASSETS 262,263 327,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,513

342,403

CREDITORS
Amounts falling due after more than one year 8 (24,429 ) (37,501 )

PROVISIONS FOR LIABILITIES (1,948 ) (2,787 )
NET ASSETS 246,136 302,115

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 245,736 301,715
SHAREHOLDERS' FUNDS 246,136 302,115

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.

THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)

BALANCE SHEET - continued
31 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 Account has not been delivered.

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




G Thomas - Director



Mrs S Thomas - Director


THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)

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

1. STATUTORY INFORMATION

Thomas Carter Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05768079

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting 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 for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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 2006, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 Account, 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.


THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)

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

2. ACCOUNTING POLICIES - continued
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.

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 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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 20,000
AMORTISATION
At 1 April 2022
and 31 March 2023 20,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 22,493 2,690 16,415 17,534 59,132
Disposals (22,493 ) (2,690 ) - (14,480 ) (39,663 )
At 31 March 2023 - - 16,415 3,054 19,469
DEPRECIATION
At 1 April 2022 21,982 2,550 5,130 14,804 44,466
Charge for year 511 140 2,821 943 4,415
Eliminated on disposal (22,493 ) (2,690 ) - (14,479 ) (39,662 )
At 31 March 2023 - - 7,951 1,268 9,219
NET BOOK VALUE
At 31 March 2023 - - 8,464 1,786 10,250
At 31 March 2022 511 140 11,285 2,730 14,666

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 16,415
DEPRECIATION
At 1 April 2022 5,130
Charge for year 2,821
At 31 March 2023 7,951
NET BOOK VALUE
At 31 March 2023 8,464
At 31 March 2022 11,285

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 23,336
Other debtors 8,706 11,604
8,706 34,940

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,720 9,720
Hire purchase contracts 3,054 4,581
Trade creditors 22,381 89
Taxation and social security 7,510 38,418
Other creditors 46,995 110,857
89,660 163,665

THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 24,429 34,447
Hire purchase contracts - 3,054
24,429 37,501

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 34,149 44,167
Hire purchase - 7,635
34,149 51,802

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
G Thomas
Balance outstanding at start of year (14,607 ) 3,931
Amounts advanced 78,307 53,562
Amounts repaid (72,000 ) (72,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,300 ) (14,607 )

Interest on the overdrawn director's loan accounts is payable on a monthly basis at the official rate of interest, however there are no agreed repayment terms.

During the year interest was paid amounting to nil (2022: £7) in respect of the overdrawn director's loan accounts.

Dividends of £72,000 were paid to the director's during the year (2022: £72,100).

The directors concerned are G Thomas and S Thomas.

11. RELATED PARTY DISCLOSURES

Southwood Developments Limited

A company in which Mr G Thomas is a director and shareholder.

Amounts due from the related party at the balance sheet date is £3,735 (2022: £3,735).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THOMAS CARTER LIMITED (REGISTERED NUMBER: 05768079)

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 Balance Sheet. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thomas Carter Limited for the year ended 31 March 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Thomas Carter Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thomas Carter Limited and state those matters that we have agreed to state to the Board of Directors of Thomas Carter Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Thomas Carter Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thomas Carter Limited. You consider that Thomas Carter Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thomas Carter Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


17 November 2023