REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
M. Thompson Builders Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
M. Thompson Builders Limited |
M. Thompson Builders Limited (Registered number: 03083120) |
Contents of the Financial Statements |
for the year ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
M. Thompson Builders Limited |
Company Information |
for the year ended 31 July 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
2 Maple Court |
Davenport Street |
Macclesfield |
Cheshire |
SK10 1JE |
M. Thompson Builders Limited (Registered number: 03083120) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
M. Thompson Builders Limited (Registered number: 03083120) |
Notes to the Financial Statements |
for the year ended 31 July 2023 |
1. | STATUTORY INFORMATION |
M. Thompson Builders Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has adopted the FRS 102 accounting policies and principles on a consistent basis from the date of transition. The principal policies are set out below: |
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 |
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Plant and machinery | - 15% on reducing balance |
Tools and equipment | - 15% on reducing balance |
Motor vehicles | - 25% on reducing balance |
Office equipment | - 15% on reducing balance |
Investment property |
Investment properties are initially measured at cost plus costs directly attributable to the acquisition. Subsequent measurement is with reference to fair value with any increases credited to the income statement and transferred to a non-distributable reserve. Any diminution in fair value, below that of amounts already credited to this reserve, are charged to the income statement. Any increases in property values which were previously charged to the income statement are credited from the income statement to the extent that the original charge is reversed. |
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. |
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. |
M. Thompson Builders Limited (Registered number: 03083120) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
Share capital |
Ordinary shares are classed as equity. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Tools and | Motor | Office |
machinery | Equipment | vehicles | Equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
and 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
The investment property comprises a flat developed by the company at Heron Cross, Stoke-on-Trent and the directors consider that the valuation, performed during the year ended 31 July 2016, still reflects the current market conditions. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
M. Thompson Builders Limited (Registered number: 03083120) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
8. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 August 2022 | 2,109 | 13,080 | 15,189 |
Profit for the year | 7,322 | 7,322 |
At 31 July 2023 | 9,431 | 13,080 | 22,511 |
9. | SECURITY |
The company's bankers hold 3 separate charges over the assets of the company for securing any monies which are due to them or become due in the future. |