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REGISTERED NUMBER: 01908045 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

THOMAS LOWE & SONS (CORN MERCHANTS)
LIMITED

THOMAS LOWE & SONS (CORN MERCHANTS)
LIMITED (REGISTERED NUMBER: 01908045)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THOMAS LOWE & SONS (CORN MERCHANTS)
LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTOR: Mr H D Fisher



SECRETARY: Mr R J Fisher



REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



REGISTERED NUMBER: 01908045 (England and Wales)



ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Yorkshire Bank
45 Penny Street
Lancaster
LA1 1UE

THOMAS LOWE & SONS (CORN MERCHANTS)
LIMITED (REGISTERED NUMBER: 01908045)

STATEMENT OF FINANCIAL POSITION
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 790 930

CURRENT ASSETS
Debtors 5 1,361 9,230
Cash at bank 22,642 38,214
24,003 47,444
CREDITORS
Amounts falling due within one year 6 3,643 16,771
NET CURRENT ASSETS 20,360 30,673
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,150

31,603

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 21,050 31,503
SHAREHOLDERS' FUNDS 21,150 31,603

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 2 April 2024 and were signed by:





Mr H D Fisher - Director


THOMAS LOWE & SONS (CORN MERCHANTS)
LIMITED (REGISTERED NUMBER: 01908045)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Thomas Lowe & Sons (Corn Merchants) 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, stated net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Furniture and equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation.

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Related party loans have no stated interest rate, are payable on demand and are measured at the undiscounted amount due.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Leases
Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

THOMAS LOWE & SONS (CORN MERCHANTS)
LIMITED (REGISTERED NUMBER: 01908045)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Improvements Furniture Fixtures
to and and
property equipment fittings Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 4,506 3,657 6,810 14,973
DEPRECIATION
At 1 August 2022 4,506 2,784 6,753 14,043
Charge for year - 131 9 140
At 31 July 2023 4,506 2,915 6,762 14,183
NET BOOK VALUE
At 31 July 2023 - 742 48 790
At 31 July 2022 - 873 57 930

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 209 986
Tax 1,152 -
Prepayments and accrued income - 8,244
1,361 9,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 14,279
Corporation tax - 1,152
Directors' current accounts 2,442 139
Accrued expenses 1,201 1,201
3,643 16,771