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REGISTERED NUMBER: 01347993 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

G.P. Thomas and Son Limited

G.P. Thomas and Son Limited (Registered number: 01347993)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G.P. Thomas and Son Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D G Thomas
B H Thomas
G G Thomas





SECRETARY: B H Thomas





REGISTERED OFFICE: Unit 5 Brierley Way
Southern Avenue
Leominster
Herefordshire
HR6 0RW





REGISTERED NUMBER: 01347993 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

G.P. Thomas and Son Limited (Registered number: 01347993)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 694,505 649,159

CURRENT ASSETS
Stocks 5 3,329,725 1,534,567
Debtors 6 1,220,906 1,356,035
Cash at bank 359,215 987,193
4,909,846 3,877,795
CREDITORS
Amounts falling due within one year 7 2,400,665 1,496,992
NET CURRENT ASSETS 2,509,181 2,380,803
TOTAL ASSETS LESS CURRENT LIABILITIES 3,203,686 3,029,962

CREDITORS
Amounts falling due after more than one year 8 36,517 39,514
NET ASSETS 3,167,169 2,990,448

CAPITAL AND RESERVES
Called up share capital 21,110 21,110
Retained earnings 3,146,059 2,969,338
SHAREHOLDERS' FUNDS 3,167,169 2,990,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

G.P. Thomas and Son Limited (Registered number: 01347993)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:




D G Thomas - Director G G Thomas - Director




B H Thomas - Director


G.P. Thomas and Son Limited (Registered number: 01347993)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

G.P. Thomas and Son 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold Property and Building Land - not provided
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office Equipment - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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.

G.P. Thomas and Son Limited (Registered number: 01347993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Freehold
Property
and
Building Plant and Motor Office
Land machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 370,257 137,331 536,725 66,189 1,110,502
Additions - 2,250 104,167 1,092 107,509
Disposals - - (37,600 ) - (37,600 )
At 31 March 2023 370,257 139,581 603,292 67,281 1,180,411
DEPRECIATION
At 1 April 2022 - 100,039 317,158 44,146 461,343
Charge for year - 5,231 53,978 2,954 62,163
Eliminated on disposal - (37,600 ) - - (37,600 )
At 31 March 2023 - 67,670 371,136 47,100 485,906
NET BOOK VALUE
At 31 March 2023 370,257 71,911 232,156 20,181 694,505
At 31 March 2022 370,257 37,292 219,567 22,043 649,159

5. STOCKS
2023 2022
£    £   
Raw materials 32,400 32,400
Fuel 200 200
Work-in-progress 3,297,125 1,501,967
3,329,725 1,534,567

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 664,041 803,038
Amounts owed by group undertakings 461,409 478,181
Other debtors 250 318
VAT 52,957 26,497
Prepayments and accrued income 42,249 48,001
1,220,906 1,356,035

G.P. Thomas and Son Limited (Registered number: 01347993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 688,444 173,161
Other loans 300,000 -
Hire purchase contracts 4,058 3,828
Trade creditors 1,270,731 1,134,067
Tax 49,215 103,670
Social security and other taxes 53,073 38,797
Directors' current accounts 12,247 16,667
Accrued expenses 22,897 26,802
2,400,665 1,496,992

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 36,517 39,514