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COMPANY REGISTRATION NUMBER: 07537648
THAPAR SONS LTD
Filleted Unaudited Financial Statements
28 February 2023
THAPAR SONS LTD
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
586,117
8,780
Current assets
Stocks
49,925
44,939
Debtors
6
8,566
11,799
Cash at bank and in hand
63,241
168,054
---------
---------
121,732
224,792
Creditors: amounts falling due within one year
7
88,201
47,967
---------
---------
Net current assets
33,531
176,825
---------
---------
Total assets less current liabilities
619,648
185,605
Creditors: amounts falling due after more than one year
8
436,908
32,175
---------
---------
Net assets
182,740
153,430
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
182,640
153,330
---------
---------
Shareholders funds
182,740
153,430
---------
---------
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 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
THAPAR SONS LTD
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 15 November 2023 , and are signed on behalf of the board by:
M THAPAR
Director
Company registration number: 07537648
THAPAR SONS LTD
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 61, MORAY AVENUE, HAYES, UB3 2AX, UK.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 3 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 March 2022
6,000
4,880
3,301
14,181
Additions
583,893
583,893
Disposals
( 6,000)
( 6,000)
---------
-------
-------
---------
At 28 February 2023
583,893
4,880
3,301
592,074
---------
-------
-------
---------
Depreciation
At 1 March 2022
3,991
1,410
5,401
Charge for the year
178
378
556
---------
-------
-------
---------
At 28 February 2023
4,169
1,788
5,957
---------
-------
-------
---------
Carrying amount
At 28 February 2023
583,893
711
1,513
586,117
---------
-------
-------
---------
At 28 February 2022
6,000
889
1,891
8,780
---------
-------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
6,713
8,338
Other debtors
1,853
3,461
-------
--------
8,566
11,799
-------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
11,903
24,650
Social security and other taxes
605
562
Other creditors
75,693
22,755
--------
--------
88,201
47,967
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
411,999
Bounce back loan
24,909
32,175
---------
--------
436,908
32,175
---------
--------
9. Director's advances, credits and guarantees
Directors loan account relates to directors current account.
10. Related party transactions
The company was under the control of M THAPAR throughout the current period. M THAPAR is the managing director holding 50% Ordinary shares, remaining 50% are held by A K THAPAR. No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.