REGISTERED NUMBER: |
PETER THOMPSON JOINERY LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
PETER THOMPSON JOINERY LIMITED (REGISTERED NUMBER: 04355037) |
ABRIDGED BALANCE SHEET - continued |
30 SEPTEMBER 2023 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Leasehold improvements | - |
Plant and machinery | - |
Motor vehicles | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
and 30 September 2023 |
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 |
Additions |
Disposals | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
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 |
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 |
Hire purchase contracts | 14,084 | 21,089 |
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 |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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 |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The directors' loans were interest free and repayable on demand. |
The overdrawn balances were repaid after the balance sheet date. |