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REGISTERED NUMBER: 04355037 (England and Wales)











PETER THOMPSON JOINERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


PETER THOMPSON JOINERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mrs G Thompson
Mrs V C Popely
Mr R P Thompson
Mrs H L Thompson
Mr J J Thompson





SECRETARY: Mrs V C Popely





REGISTERED OFFICE: Green Park Business Centre
Goose Lane Eastmoor
Sutton on Forest
York
North Yorkshire
YO61 1ET





REGISTERED NUMBER: 04355037 (England and Wales)





ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW

PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 169,835 159,776
169,835 159,776

CURRENT ASSETS
Stocks 138,468 138,041
Debtors 6 203,386 202,835
Cash at bank - 30,000
341,854 370,876
CREDITORS
Amounts falling due within one year 380,741 347,745
NET CURRENT (LIABILITIES)/ASSETS (38,887 ) 23,131
TOTAL ASSETS LESS CURRENT LIABILITIES 130,948 182,907

CREDITORS
Amounts falling due after more than one
year

49,086

80,021
NET ASSETS 81,862 102,886

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 81,662 102,686
SHAREHOLDERS' FUNDS 81,862 102,886

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

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 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.

PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 March 2024 and were signed on its behalf by:




Mr R P Thompson - Director



Mrs V C Popely - Director


PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Peter Thompson Joinery 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.

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.

The company depends upon the financial support of its bank and its directors to meet its day to day working capital requirements. This support is expected to continue for the foreseeable future. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of financial support.

Turnover
Turnover represents amounts receivable in the year for the sale of goods and provision of joinery services, excluding value added tax.

Contracted works which have been carried out to the balance sheet date, but not invoiced, have been recognised in turnover. The amount of revenue recognised in this manner reflects the accrual of the right to consideration as contract activity progresses by reference to the value of the work performed. Adjustment is made as necessary for any uncertainties as to the amount that the customer will accept and pay. Unbilled revenue is included in trade debtors.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been 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.
Leasehold improvements - 10% straight line
Plant and machinery - 20% to 33% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Raw materials and consumable stocks are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.

Government grants
Grants received in respect of qualifying expenditure incurred in the year have been included in the profit and loss. Deferred capital grants are charged to the profit and loss accounts over the expected useful lives of the related assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022
and 30 September 2023 54,000
AMORTISATION
At 1 October 2022
and 30 September 2023 54,000
NET BOOK VALUE

At 30 September 2023 -
At 30 September 2022 -

PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 774,813
Additions 42,191
Disposals (16,003 )
At 30 September 2023 801,001
DEPRECIATION
At 1 October 2022 615,037
Charge for year 31,557
Eliminated on disposal (15,428 )
At 30 September 2023 631,166
NET BOOK VALUE
At 30 September 2023 169,835
At 30 September 2022 159,776

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 October 2022
and 30 September 2023 52,815
DEPRECIATION
At 1 October 2022 18,155
Charge for year 8,665
At 30 September 2023 26,820
NET BOOK VALUE
At 30 September 2023 25,995
At 30 September 2022 34,660

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other debtors 18,710 19,142

PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 147,404 131,585
Hire purchase contracts 14,084 21,089
161,488 152,674

The overdraft is secured by way of a mortgage on the company assets.
The hire purchase debt is secured on the assets held under hire purchase.

8. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 35,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mrs G Thompson
Balance outstanding at start of year 1,267 41,530
Amounts advanced 500 -
Amounts repaid (1,767 ) (40,263 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,267

Mr R P Thompson and Mrs H L Thompson
Balance outstanding at start of year 2,588 -
Amounts advanced 4,609 2,588
Amounts repaid (6,624 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 573 2,588

PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs V C Popely
Balance outstanding at start of year 670 -
Amounts advanced 6,978 670
Amounts repaid (6,312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,336 670

The directors' loans were interest free and repayable on demand.
The overdrawn balances were repaid after the balance sheet date.