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REGISTERED NUMBER: 04607949 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Thompsons Coaches Limited

Thompsons Coaches Limited (Registered number: 04607949)






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


Thompsons Coaches Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr S A Rogers





SECRETARY: Mrs J A Frost





REGISTERED OFFICE: 17, Ashwell Avenue
Framlingham
Woodbridge
Suffolk
IP13 9FX





REGISTERED NUMBER: 04607949 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Thompsons Coaches Limited (Registered number: 04607949)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 353,706 259,695
353,706 259,695

CURRENT ASSETS
Stocks 6 3,250 2,500
Debtors 7 129,877 148,347
Cash at bank 59,958 31,882
193,085 182,729
CREDITORS
Amounts falling due within one year 8 109,839 87,492
NET CURRENT ASSETS 83,246 95,237
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,952

354,932

CREDITORS
Amounts falling due after more than one
year

9

(54,666

)

(85,916

)

PROVISIONS FOR LIABILITIES 10 (86,681 ) (38,107 )
NET ASSETS 295,605 230,909

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 295,575 230,879
SHAREHOLDERS' FUNDS 295,605 230,909

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 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.

Thompsons Coaches Limited (Registered number: 04607949)

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 director and authorised for issue on 13 August 2024 and were signed by:





Mr S A Rogers - Director


Thompsons Coaches Limited (Registered number: 04607949)

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

1. STATUTORY INFORMATION

Thompsons Coaches 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
COVID-19 is not expected to have a significant impact on the entity. Management has determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern. It expects that COVID-19 might have some impact, though not significant, for example, in relation to expected future performance, or the effects on some future asset valuations.

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 2002, was fully amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - 5% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Thompsons Coaches Limited (Registered number: 04607949)

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

2. ACCOUNTING POLICIES - continued
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
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.

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 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Thompsons Coaches Limited (Registered number: 04607949)

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

5. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor
improvements machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023 9,248 42,405 314,315 365,968
Additions - 34,814 129,800 164,614
Disposals - - (32,500 ) (32,500 )
At 31 December 2023 9,248 77,219 411,615 498,082
DEPRECIATION
At 1 January 2023 1,803 29,694 74,776 106,273
Charge for year 462 3,579 48,099 52,140
Eliminated on disposal - - (14,037 ) (14,037 )
At 31 December 2023 2,265 33,273 108,838 144,376
NET BOOK VALUE
At 31 December 2023 6,983 43,946 302,777 353,706
At 31 December 2022 7,445 12,711 239,539 259,695

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 - 18,990 18,990
Additions 33,000 63,000 96,000
At 31 December 2023 33,000 81,990 114,990
DEPRECIATION
At 1 January 2023 - 475 475
Charge for year 1,650 11,440 13,090
At 31 December 2023 1,650 11,915 13,565
NET BOOK VALUE
At 31 December 2023 31,350 70,075 101,425
At 31 December 2022 - 18,515 18,515

6. STOCKS
2023 2022
£    £   
Stocks 3,250 2,500

Thompsons Coaches Limited (Registered number: 04607949)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,434 32,349
Unbilled sales contracts 43,624 36,482
Loan to J Frost - 3,356
Loan to R Rogers 6,577 -
Directors' current accounts 51,785 50,502
VAT 11,397 17,798
Prepayments 2,060 7,860
129,877 148,347

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 34,750 34,750
Loan ex D J Rogers - 183
Loan ex R Rogers - 4,772
Hire purchase contracts 23,250 3,750
Trade creditors 16,228 9,821
Tax 25,920 24,442
Social security and other taxes 6,666 6,749
Accrued expenses 3,025 3,025
109,839 87,492

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Funding Circle - Coronavirus
Business Interruption Loan
Scheme (CBILS) 40,541 34,750
Funding Circle - Coronavirus
Business Interruption Loan
Scheme (CBILS) - 40,541
Hire purchase contracts 14,125 10,625
54,666 85,916

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 86,681 38,107

Thompsons Coaches Limited (Registered number: 04607949)

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

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 38,107
Movement in year 48,574
Balance at 31 December 2023 86,681

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr S A Rogers
Balance outstanding at start of year 50,502 63,338
Amounts advanced 60,170 46,574
Amounts repaid (58,887 ) (59,410 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,785 50,502