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REGISTERED NUMBER: 00391085 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Thomas Guy Limited

Thomas Guy Limited (Registered number: 00391085)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thomas Guy Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N W Guy
J L Mitchell





SECRETARY: J L Mitchell





REGISTERED OFFICE: 9 Osprey Place
Guys Industrial Estate North
BURSCOUGH
Nr Ormskirk
Lancashire
L40 8TG





REGISTERED NUMBER: 00391085 (England and Wales)





ACCOUNTANTS: Kirkwood Wilson Limited
2a Swordfish Business Park
Swordfish Close
Higgins Lane
Burscough
Lancashire
L40 8JW

Thomas Guy Limited (Registered number: 00391085)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,171,007 1,187,632
1,171,007 1,187,632

CURRENT ASSETS
Debtors 6 210,731 221,753
Cash at bank 185,495 247,121
396,226 468,874
CREDITORS
Amounts falling due within one year 7 516,697 493,390
NET CURRENT LIABILITIES (120,471 ) (24,516 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,050,536 1,163,116

CREDITORS
Amounts falling due after more than one year 8 (14,167 ) (24,167 )

PROVISIONS FOR LIABILITIES (64,709 ) (63,908 )
NET ASSETS 971,660 1,075,041

CAPITAL AND RESERVES
Called up share capital 22,000 22,000
Revaluation reserve 9 145,830 149,000
Other reserves 21,386 21,386
Retained earnings 782,444 882,655
SHAREHOLDERS' FUNDS 971,660 1,075,041

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

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

Thomas Guy Limited (Registered number: 00391085)

Balance Sheet - continued
31 December 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 26 July 2024 and were signed on its behalf by:





N W Guy - Director


Thomas Guy Limited (Registered number: 00391085)

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

1. STATUTORY INFORMATION

Thomas Guy 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1988, is being amortised evenly over its estimated useful life of five 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 25% on reducing balance

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.

Thomas Guy Limited (Registered number: 00391085)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1,860
AMORTISATION
At 1 January 2023
and 31 December 2023 1,860
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,150,000 359,377 1,509,377
Additions - 45,500 45,500
Disposals - (8,000 ) (8,000 )
At 31 December 2023 1,150,000 396,877 1,546,877
DEPRECIATION
At 1 January 2023 69,000 252,745 321,745
Charge for year 23,000 37,702 60,702
Eliminated on disposal - (6,577 ) (6,577 )
At 31 December 2023 92,000 283,870 375,870
NET BOOK VALUE
At 31 December 2023 1,058,000 113,007 1,171,007
At 31 December 2022 1,081,000 106,632 1,187,632

Included in cost or valuation of land and buildings is freehold land of £ 575,000 (2022 - £ 575,000 ) which is not depreciated.

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2017 158,511 - 158,511
Cost 991,489 396,877 1,388,366
1,150,000 396,877 1,546,877

Thomas Guy Limited (Registered number: 00391085)

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

5. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 991,489 991,489
Aggregate depreciation 436,255 436,255

Value of land in freehold land and buildings 575,000 575,000

Land and buildings were valued on a fair value basis on 31 December 2017 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 163,479 179,033
Other debtors 47,252 42,720
210,731 221,753

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 122,193 70,391
Taxation and social security 22,529 26,443
Other creditors 361,975 386,556
516,697 493,390

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,167 24,167

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023 149,000
Reclassification/transfer (3,170 )

At 31 December 2023 145,830