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REGISTERED NUMBER: 07600205 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

THORNTON & LOWE LIMITED

THORNTON & LOWE LIMITED (REGISTERED NUMBER: 07600205)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


THORNTON & LOWE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: D E Thornton
Mrs C M Y Thornton





REGISTERED OFFICE: 40 Higher Bridge Street
Bolton
BL1 2HA





REGISTERED NUMBER: 07600205 (England and Wales)





ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ

THORNTON & LOWE LIMITED (REGISTERED NUMBER: 07600205)

ABRIDGED BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,325 11,528

CURRENT ASSETS
Debtors 578,011 1,254,270
Cash at bank 767,905 489,295
1,345,916 1,743,565
CREDITORS
Amounts falling due within one year 349,402 323,557
NET CURRENT ASSETS 996,514 1,420,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,007,839

1,431,536

CREDITORS
Amounts falling due after more than one
year

(10,833

)

(20,833

)

PROVISIONS FOR LIABILITIES (2,754 ) (2,882 )
NET ASSETS 994,252 1,407,821

CAPITAL AND RESERVES
Called up share capital 5 1,004 1,004
Share premium 24,900 24,900
Retained earnings 968,348 1,381,917
SHAREHOLDERS' FUNDS 994,252 1,407,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 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.

THORNTON & LOWE LIMITED (REGISTERED NUMBER: 07600205)

ABRIDGED BALANCE SHEET - continued
30TH APRIL 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th August 2024 and were signed on its behalf by:





D E Thornton - Director


THORNTON & LOWE LIMITED (REGISTERED NUMBER: 07600205)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Thornton & Lowe 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, expressed as turnover, is the value of services provided to customers net of value added tax.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Office equipment - 25% on reducing balance

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade debtors, prepayments and other debtors and also trade creditors, accruals and other creditors, at the original transaction price.

All basic financial assets and liabilities are payable/repayable within one year and are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

THORNTON & LOWE LIMITED (REGISTERED NUMBER: 07600205)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2023 30,912
Additions 3,283
At 30th April 2024 34,195
DEPRECIATION
At 1st May 2023 19,384
Charge for year 3,486
At 30th April 2024 22,870
NET BOOK VALUE
At 30th April 2024 11,325
At 30th April 2023 11,528

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
975 Ordinary A £1 975 975
25 Ordinary B £1 25 25
3 Ordinary C £1 3 3
1 Ordinary D £1 1 1
1,004 1,004

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The opening amounts outstanding from the directors of £289,840 were repaid during the year.

Where appropriate, interest is charged at recognised HMRC rates. The loans are repayable on demand.

7. ULTIMATE CONTROLLING PARTY

The company is controlled by its director, D Thornton, who has a beneficial interest in all of the issued share capital of the parent company, David Thornton Holdings Limited.