2023-04-012024-03-312024-03-31false00814866Thornham (Builders) Supplies 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Thornham (Builders) Supplies Limited

Registered Number
00814866
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Thornham (Builders) Supplies Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

P M Adams
A Turner
M J P Wyatt

Registered Address

Oozewood Road
Royton Oldham
Lancashire
OL2 5SQ

Registered Number

00814866 (England and Wales)
Thornham (Builders) Supplies Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3379,273391,289
379,273391,289
Current assets
Stocks4235,526235,403
Debtors5100,761127,682
Cash at bank and on hand62,67088,833
398,957451,918
Creditors amounts falling due within one year6(173,130)(199,814)
Net current assets (liabilities)225,827252,104
Total assets less current liabilities605,100643,393
Provisions for liabilities7(40,000)(40,000)
Net assets565,100603,393
Capital and reserves
Called up share capital1,2001,200
Revaluation reserve298,914298,914
Profit and loss account264,986303,279
Shareholders' funds8565,100603,393
The financial statements were approved and authorised for issue by the Board of Directors on 17 July 2024, and are signed on its behalf by:
P M Adams
Director
Registered Company No. 00814866
Thornham (Builders) Supplies Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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 sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Fixtures and fittings10-
Vehicles25-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
Trade and other 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.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 April 23435,112150,84218,000603,954
Additions-1,811-1,811
At 31 March 24435,112152,65318,000605,765
Depreciation and impairment
At 01 April 2377,516118,50016,649212,665
Charge for year8,7024,78733813,827
At 31 March 2486,218123,28716,987226,492
Net book value
At 31 March 24348,89429,3661,013379,273
At 31 March 23357,59632,3421,351391,289
4.Stocks

2024

2023

££
Finished goods235,526235,403
Total235,526235,403
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables86,182119,882
Prepayments and accrued income14,5797,800
Total100,761127,682
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables86,00384,623
Taxation and social security21,10939,256
Other creditors44,38850,387
Accrued liabilities and deferred income21,63025,548
Total173,130199,814
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)40,00040,000
Total40,00040,000
8.Revaluation reserve

£
Reserve at 01 April 23298,914
At 31 March 24298,914