Company Registration No. 09018965 (England and Wales)
Thornacre Ltd
Unaudited accounts
for the year ended 30 November 2023
Thornacre Ltd
Unaudited accounts
Contents
Thornacre Ltd
Company Information
for the year ended 30 November 2023
Directors
N A Reed
Z E Reed
Company Number
09018965 (England and Wales)
Registered Office
26 Mount Pleasant,
Bedlinog,
Treharris,
CF46 6SD
Accountants
R H Jeffs & Rowe Ltd
27-28 Gelliwastad Road
Pontypridd
CF37 2BW
Thornacre Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
26,431
35,177
Cash at bank and in hand
-
6,082
Creditors: amounts falling due within one year
(33,496)
(32,344)
Net current (liabilities)/assets
(1,806)
9,103
Total assets less current liabilities
24,625
44,280
Creditors: amounts falling due after more than one year
(24,526)
(30,980)
Called up share capital
10
10
Profit and loss account
89
13,290
Shareholders' funds
99
13,300
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by
N A Reed
Director
Company Registration No. 09018965
Thornacre Ltd
Notes to the Accounts
for the year ended 30 November 2023
Thornacre Ltd is a private company, limited by shares, registered in England and Wales, registration number 09018965. The registered office is 26 Mount Pleasant,, Bedlinog,, Treharris,, CF46 6SD .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Thornacre Ltd
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
11,603
49,935
1,447
62,985
At 30 November 2023
11,603
49,935
1,447
62,985
At 1 December 2022
4,439
22,390
979
27,808
Charge for the year
1,791
6,886
69
8,746
At 30 November 2023
6,230
29,276
1,048
36,554
At 30 November 2023
5,373
20,659
399
26,431
At 30 November 2022
7,164
27,545
468
35,177
Amounts falling due within one year
Trade debtors
31,690
35,365
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
12,854
-
Taxes and social security
12,619
13,913
Loans from directors
(8,303)
155
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
6,508
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Due from Director
(155)
8,458
-
8,303
Thornacre Ltd
Notes to the Accounts
for the year ended 30 November 2023
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).