THOMPSON COLE LIMITED

Company Registration Number:
03639770 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

THOMPSON COLE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

THOMPSON COLE LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 108,898 55,257
Total fixed assets: 108,898 55,257
Current assets
Debtors:   234,578 172,205
Cash at bank and in hand: 213,032 263,097
Total current assets: 447,610 435,302
Creditors: amounts falling due within one year: 4 (146,726) (133,541)
Net current assets (liabilities): 300,884 301,761
Total assets less current liabilities: 409,782 357,018
Creditors: amounts falling due after more than one year: 5 (58,082) (7,568)
Total net assets (liabilities): 351,700 349,450
Capital and reserves
Called up share capital: 270 270
Share premium account: 22,470 22,470
Profit and loss account: 328,960 326,710
Shareholders funds: 351,700 349,450

The notes form part of these financial statements

THOMPSON COLE LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 March 2024
and signed on behalf of the board by:

Name: Mr J Jamieson
Status: Director

The notes form part of these financial statements

THOMPSON COLE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows Leasehold land and buildings over the term of the lease Plant and machinery 25% reducing balance Motor vehicles 25% reducing balance.

Other accounting policies

Debtors Short term debtors are measured at transaction price which is usually the invoice price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price which is usually the invoice price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Leased assets A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. Pensions Contributions to defined contribution plans are expensed in the period to which they relate.

THOMPSON COLE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 11 11

THOMPSON COLE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 147,017
Additions 106,876
Disposals (79,891)
At 31 December 2023 174,002
Depreciation
At 01 January 2023 91,760
Charge for year 22,967
On disposals (49,623)
At 31 December 2023 65,104
Net book value
At 31 December 2023 108,898
At 31 December 2022 55,257

THOMPSON COLE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

Obligations under finance lease and hire purchase contracts 6988 Trade creditors 5167 taxation and social security costs 131621 Other creditors 2950

THOMPSON COLE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due after more than one year note

Obligations under finance lease and hire purchase contracts£58082