2022-10-01 NI060795 2023-09-30 NI060795 2022-10-01 2023-09-30 NI060795 2022-09-30 NI060795 2021-10-01 2022-09-30 NI060795 uk-core:WithinOneYear uk-bus:Original 2022-09-30 NI060795 uk-core:WithinOneYear uk-bus:Original 2023-09-30 NI060795 uk-core:ShareCapital uk-bus:Original 2023-09-30 NI060795 uk-core:ShareCapital uk-bus:Original 2022-09-30 NI060795 uk-core:RetainedEarningsAccumulatedLosses uk-bus:Original 2023-09-30 NI060795 uk-core:RetainedEarningsAccumulatedLosses uk-bus:Original 2022-09-30 NI060795 uk-bus:Director1 uk-bus:Original 2022-10-01 2023-09-30 NI060795 uk-core:PlantMachinery uk-bus:Original 2022-10-01 2023-09-30 NI060795 uk-core:ComputerEquipment uk-bus:Original 2022-10-01 2023-09-30 NI060795 uk-core:FurnitureFittings uk-bus:Original 2022-10-01 2023-09-30 NI060795 uk-core:ComputerEquipment uk-bus:Original 2022-09-30 NI060795 uk-core:FurnitureFittings uk-bus:Original 2022-09-30 NI060795 uk-core:PlantMachinery uk-bus:Original 2022-09-30 NI060795 uk-core:PlantMachinery uk-bus:Original 2023-09-30 NI060795 uk-core:FurnitureFittings uk-bus:Original 2023-09-30 NI060795 uk-core:ComputerEquipment uk-bus:Original 2023-09-30 iso4217:GBP xbrli:pure NI060795 uk-bus:AuditExemptWithAccountantsReport uk-bus:Original 2022-10-01 2023-09-30 NI060795 uk-bus:FRS102 uk-bus:Original 2022-10-01 2023-09-30 NI060795 uk-bus:FilletedAccounts uk-bus:Original 2022-10-01 2023-09-30 NI060795 uk-bus:PrivateLimitedCompanyLtd uk-bus:Original 2022-10-01 2023-09-30
Thompson Tyres Limited
Registered Number:NI060795
For the year ended 30 September 2023
Northern Ireland
Unaudited Financial Statements
2
For the year ended 30 September 2023
Thompson Tyres Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
NI060795
As at 30 September 2023
Thompson Tyres Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
25,806
29,095
2
3
484,119
484,119
Investment property
509,925
513,214
Current assets
Inventories
173,339
175,072
4
Trade and other receivables
98,896
124,056
5
461,590
Cash and cash equivalents
651,471
950,599
733,825
Trade and other payables: amounts falling due within one
year
(249,642)
(305,185)
6
484,183
645,414
Net current assets
Total assets less current liabilities
1,155,339
997,397
(5,473)
(5,337)
Provisions for liabilities
1,149,866
Net assets
992,060
Capital and reserves
Called up share capital
2
2
Retained earnings
1,149,864
992,058
1,149,866
992,060
Shareholders' funds
For the year ended 30 September 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Paul Thompson Director
These financial statements were approved and authorised for issue by the Board on 12 March 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 30 September 2023
Thompson Tyres Limited
Notes to the Financial Statements
Statutory Information
Thompson Tyres Limited is a private limited company, limited by shares, domiciled in Northern Ireland, registration
number NI060795.
Registered address:
31 Downshire Road
Banbridge
County Down
BT32 3JY
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
20% Reducing balance
20% Reducing balance
Computer Equipment
15% Reducing balance
Furniture and Fittings
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 30 September 2023
Thompson Tyres Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Plant and
Machinery
£
£
£
£
Cost or
valuation
At 01 October 2022
124,670
2,772
14,780
107,118
2,995
1,223
417
1,355
Additions
At 30 September 2023
108,473
15,197
3,995
127,665
Provision for depreciation and impairment
At 01 October 2022
95,575
998
12,523
82,054
Charge for year
6,284
599
401
5,284
At 30 September 2023
101,859
1,597
12,924
87,338
At 30 September 2023
Net book value
21,135
2,273
2,398
25,806
At 30 September 2022
25,064
2,257
1,774
29,095
3. Investment property
Total
£
Fair value
At 01 October 2022
484,119
At 30 September 2023
484,119
Net book value
At 30 September 2023
484,119
At 30 September 2022
484,119
4. Inventories
2022
2023
£
£
Stocks
175,072
173,339
5. Trade and other receivables
2022
2023
£
£
Trade debtors
124,056
98,896
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6
For the year ended 30 September 2023
Thompson Tyres Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
179,833
193,058
Taxation and social security
88,916
40,572
Other creditors
36,436
16,012
305,185
249,642
7. Average number of persons employed
During the year the average number of employees was 12 (2022 : 11)
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