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REGISTERED NUMBER: SC270835 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Thomson Gray Limited

Thomson Gray Limited (Registered number: SC270835)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Thomson Gray Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J S Gibson
G Gowans
S G Gray
R T Lovatt
J M McKaig
A I Macgregor
W J Bathgate
A K Brown
L P Casserly





SECRETARY: J S Gibson





REGISTERED OFFICE: Prospect House
5 Thistle Street
Edinburgh
EH2 1DF





REGISTERED NUMBER: SC270835 (Scotland)





ACCOUNTANTS: EQ Accountants (Trading name)
Douglas Home & Co Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Thomson Gray Limited (Registered number: SC270835)

Statement of Financial Position
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 198,935 80,810

CURRENT ASSETS
Inventories 532,889 332,889
Debtors 5 1,417,072 1,248,619
Cash at bank and in hand 17,171 194,218
1,967,132 1,775,726
CREDITORS
Amounts falling due within one year 6 1,157,324 859,274
NET CURRENT ASSETS 809,808 916,452
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,008,743

997,262

CREDITORS
Amounts falling due after more than one
year

7

(46,824

)

-

PROVISIONS FOR LIABILITIES (24,500 ) (14,500 )
NET ASSETS 937,419 982,762

CAPITAL AND RESERVES
Called up share capital 83 80
Share premium 98,226 98,229
Retained earnings 839,110 884,453
937,419 982,762

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.

Thomson Gray Limited (Registered number: SC270835)

Statement of Financial Position - 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 8 July 2024 and were signed on its behalf by:





S G Gray - Director


Thomson Gray Limited (Registered number: SC270835)

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

1. STATUTORY INFORMATION

Thomson Gray Limited is a private company, limited by shares , registered in Scotland. 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tenant's improvements - Straight line over 10 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on cost and 25% on cost
Computer equipment - Straight line over 5 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Thomson Gray Limited (Registered number: SC270835)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 79 (2022 - 70 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 62,400 187,441 249,841
Additions 5,479 147,985 153,464
At 31 December 2023 67,879 335,426 403,305
DEPRECIATION
At 1 January 2023 40,274 128,757 169,031
Charge for year 6,299 29,040 35,339
At 31 December 2023 46,573 157,797 204,370
NET BOOK VALUE
At 31 December 2023 21,306 177,629 198,935
At 31 December 2022 22,126 58,684 80,810

Thomson Gray Limited (Registered number: SC270835)

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

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
Additions 82,846
At 31 December 2023 82,846
DEPRECIATION
Charge for year 3,541
At 31 December 2023 3,541
NET BOOK VALUE
At 31 December 2023 79,305

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 1,317,818 1,100,045
Other debtors 99,254 148,574
1,417,072 1,248,619

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Finance leases 28,113 -
Trade creditors 446,983 262,469
Taxation and social security 517,490 480,862
Other creditors 164,738 115,943
1,157,324 859,274

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Finance leases 46,824 -