Company registration number 10018336 (England and Wales)
EVAN THOMAS & SONS LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
EVAN THOMAS & SONS LTD
COMPANY INFORMATION
Director
Mr A D R McCutcheon
Company number
10018336
Registered office
The Third Floor
Langdon House
Langdon Road
Swansea
West Glamorgan
SA1 8QY
Accountants
WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
EVAN THOMAS & SONS LTD
CONTENTS
Page
Director's report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
EVAN THOMAS & SONS LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
- 1 -

The director presents his annual report and financial statements for the year ended 31 August 2023.

Principal activities

The principal activity of the company continued to be that of the installation of energy saving materials.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr A D R McCutcheon
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr A D R McCutcheon
Director
16 August 2024
EVAN THOMAS & SONS LTD
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
615,824
920,561
Current assets
Stocks
275,000
1,157,307
Debtors
4
1,070,018
140,106
Cash at bank and in hand
-
0
17,512
1,345,018
1,314,925
Creditors: amounts falling due within one year
5
(1,312,793)
(1,046,304)
Net current assets
32,225
268,621
Total assets less current liabilities
648,049
1,189,182
Creditors: amounts falling due after more than one year
6
(425,388)
(806,456)
Provisions for liabilities
(40,194)
(40,194)
Net assets
182,467
342,532
Capital and reserves
Called up share capital
9
1
1
Revaluation reserve
230,152
230,152
Profit and loss reserves
(47,686)
112,379
Total equity
182,467
342,532

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

EVAN THOMAS & SONS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 16 August 2024
Mr A D R McCutcheon
Director
Company registration number 10018336 (England and Wales)
EVAN THOMAS & SONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
1
Accounting policies
Company information

Evan Thomas & Sons Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Third Floor, Langdon House, Langdon Road, Swansea, West Glamorgan, SA1 8QY.

1.1
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

1.3
Going concern

The director has considered the company's financial position in light of the loss for the year. He has concluded that the company can trade out of its current position and thus the going concern basis continues to be adopted in the preparation of the financial statements.true

1.4
Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on supply of the goods.

Rendering of services

When the outcome of a transaction cab be estimated reliably, turnover from service contracts is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the contract value and the work completed.

 

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

 

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the contract value and the work completed.

 

Where the outcome cannot be measured reliably, contracts costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

 

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expenses immediately, with a corresponding provision.

EVAN THOMAS & SONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Machinery & equipment
20% on cost
Tools & equipment
20% on cost
Computers
20% on cost
Motor vehicles
25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. The company acquired a number of classic motor cars in the year. Theses have been included in the financial statements under tangible fixed assets and revalued to their market value by an independent expert.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate

1.7
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.

1.8
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.

1.9
Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

EVAN THOMAS & SONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 6 -
1.10

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
11
11
3
Tangible fixed assets
Machinery & equipment
Tools & equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2022
78,550
4,860
2,264
866,649
952,323
Disposals
(49,050)
-
0
-
0
(265,000)
(314,050)
At 31 August 2023
29,500
4,860
2,264
601,649
638,273
Depreciation
At 1 September 2022
19,638
4,860
2,264
5,000
31,762
Depreciation charged in the year
2,950
-
0
-
0
-
0
2,950
Eliminated in respect of disposals
(12,263)
-
0
-
0
-
0
(12,263)
At 31 August 2023
10,325
4,860
2,264
5,000
22,449
Net Book Value
At 31 August 2023
19,175
-
0
-
0
596,649
615,824
At 31 August 2022
58,912
-
0
-
0
861,649
920,561
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
124,670
136,106
Other debtors
945,348
4,000
1,070,018
140,106
EVAN THOMAS & SONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 7 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
91,427
76,950
Obligations under hire purchase agreements
7
139,317
115,258
Trade creditors
293,747
296,004
Amounts owed to group undertakings
20,962
31,962
Corporation tax
150,545
140,458
Other taxation and social security
593,003
353,215
Other creditors
5,366
6,092
Accruals and deferred income
18,426
26,365
1,312,793
1,046,304
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
249,526
284,303
Obligations under hire purchase agreements
7
175,862
522,153
425,388
806,456
7
Hire purchase obligations
2023
2022
Future minimum payments due under hire purchase agreements:
£
£
Within one year
139,317
115,258
In two to five years
175,862
522,153
315,179
637,411
8
Secured Debts

The hire purchase liabilities are secured on the relevant assets. In addition, the director has given a personal guarantee for the hire purchase liabilities.

 

The director has also given a personal guarantee for the bank loan and overdraft.

 

9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
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