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REGISTERED NUMBER: 04652970 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

A E Thomson Limited

A E Thomson Limited (Registered number: 04652970)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


A E Thomson Limited (Registered number: 04652970)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 15,531 15,289
15,531 15,289

Current assets
Debtors 7 32,523 26,069
Investments 8 229,030 101,343
Cash at bank and in hand 336,088 525,689
597,641 653,101
Creditors
Amounts falling due within one year 9 (165,768 ) (180,526 )
Net current assets 431,873 472,575
Total assets less current liabilities 447,404 487,864

Creditors
Amounts falling due after more than one
year

10

(31,187

)

(37,178

)

Provisions for liabilities (2,951 ) (3,823 )
Net assets 413,266 446,863

A E Thomson Limited (Registered number: 04652970)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £ £
Capital and reserves
Called up share capital 150,000 150,000
Fair value reserve 11 9,030 1,343
Retained earnings 254,236 295,520
413,266 446,863

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





Mr N D Smith - Director


A E Thomson Limited (Registered number: 04652970)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. General information

A E Thomson 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: 04652970

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

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


The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22-26 King Street, King's Lynn, Norfolk, PE30 1HJ.

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 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.

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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition
The turnover shown in the profit and loss account represents the value of work undertaken during the year.

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 2003, is being amortised evenly over its estimated useful life of five years.

A E Thomson Limited (Registered number: 04652970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 15% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

A E Thomson Limited (Registered number: 04652970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.


A E Thomson Limited (Registered number: 04652970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. Accounting policies - continued
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises. The company operates a money purchase pension scheme for eligible employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

A E Thomson Limited (Registered number: 04652970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. Employees and directors

The average number of employees during the year was 9 (2023 - 8 ) .

5. Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023
and 31 January 2024 145,000
Amortisation
At 1 February 2023
and 31 January 2024 145,000
Net book value
At 31 January 2024 -
At 31 January 2023 -

6. Tangible fixed assets
Office
equipment
£
Cost
At 1 February 2023 44,675
Additions 2,626
At 31 January 2024 47,301
Depreciation
At 1 February 2023 29,386
Charge for year 2,384
At 31 January 2024 31,770
Net book value
At 31 January 2024 15,531
At 31 January 2023 15,289

7. Debtors: amounts falling due within one year
31.1.24 31.1.23
£ £
Trade debtors 20,642 13,676
Other debtors 11,881 12,393
32,523 26,069

A E Thomson Limited (Registered number: 04652970)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


8. Current asset investments
31.1.24 31.1.23
£ £
Listed investments 229,030 101,343

9. Creditors: amounts falling due within one year
31.1.24 31.1.23
£ £
Bank loans and overdrafts 5,000 4,513
Trade creditors 691 535
Amounts owed to group undertakings 40,851 77,851
Taxation and social security 101,068 87,729
Other creditors 18,158 9,898
165,768 180,526

10. Creditors: amounts falling due after more than one year
31.1.24 31.1.23
£ £
Bank loans 31,187 37,178

11. Reserves
Fair value
reserve
£
At 1 February 2023 1,343
Cash share issue 7,687

At 31 January 2024 9,030

Fair value reserve - This reserve records non-distributable retained earnings and accumulated losses.

12. Other financial commitments

Operating lease commitments not included in the balance sheet amount to £72,565 (2023: £13,592).

13. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. Ultimate controlling party

The ultimate parent company is A E Thomson (UK) Limited, a company registered in England and Wales.