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REGISTERED NUMBER: 06275693 (England and Wales)















Thorn Electrical (Northampton) Limited

Unaudited Financial Statements

for the Year Ended 30th June 2023






Thorn Electrical (Northampton) Limited (Registered number: 06275693)






Contents of the Financial Statements
for the year ended 30th June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Thorn Electrical (Northampton) Limited

Company Information
for the year ended 30th June 2023







DIRECTOR: C A Thorneycroft





SECRETARY: Mrs M Thorneycroft





REGISTERED OFFICE: 310 Wellingborough Road
Northampton
Northamptonshire
NN1 4EP





REGISTERED NUMBER: 06275693 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

Thorn Electrical (Northampton) Limited (Registered number: 06275693)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 25,640 22,792

CURRENT ASSETS
Debtors 6 182,985 49,138
Cash at bank 151,277 103,767
334,262 152,905
CREDITORS
Amounts falling due within one year 7 178,186 55,466
NET CURRENT ASSETS 156,076 97,439
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,716

120,231

CREDITORS
Amounts falling due after more than one
year

8

(9,832

)

(5,684

)

PROVISIONS FOR LIABILITIES 10 (4,300 ) (4,300 )
NET ASSETS 167,584 110,247

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 167,484 110,147
SHAREHOLDERS' FUNDS 167,584 110,247

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23rd November 2023 and were signed by:





C A Thorneycroft - Director


Thorn Electrical (Northampton) Limited (Registered number: 06275693)

Notes to the Financial Statements
for the year ended 30th June 2023

1. STATUTORY INFORMATION

Thorn Electrical (Northampton) 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.

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


The principal activity of the company in the year under review was that of electrical contract work.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistency applied to all years presented unless otherwise stated.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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.

Thorn Electrical (Northampton) Limited (Registered number: 06275693)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st July 2022 6,830 57,016 5,066 68,912
Additions - 11,650 - 11,650
At 30th June 2023 6,830 68,666 5,066 80,562
DEPRECIATION
At 1st July 2022 5,501 36,403 4,216 46,120
Charge for year 198 8,062 542 8,802
At 30th June 2023 5,699 44,465 4,758 54,922
NET BOOK VALUE
At 30th June 2023 1,131 24,201 308 25,640
At 30th June 2022 1,329 20,613 850 22,792

The net book value of tangible fixed assets includes £ 21,413 (2022 - £ 16,898 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 182,985 48,450
Other debtors - 688
182,985 49,138

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 12,203 3,950
Hire purchase contracts 6,832 7,054
Trade creditors 26,524 5,555
Taxation and social security 45,436 34,953
Other creditors 87,191 3,954
178,186 55,466

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 9,832 5,684

Thorn Electrical (Northampton) Limited (Registered number: 06275693)

Notes to the Financial Statements - continued
for the year ended 30th June 2023

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 12,203 3,950

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,300 4,300

Deferred
tax
£   
Balance at 1st July 2022 4,300
Balance at 30th June 2023 4,300

11. CALLED UP SHARE CAPITAL

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

12. CONTINGENT LIABILITIES

There were no contingent liabilities as at 30th June 2023 or 30th June 2022.

13. CAPITAL COMMITMENTS

There were no capital commitments as at 30th June 2023 or 30th June 2022.