2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,086,349 1,086,349 1,086,349 xbrli:pure xbrli:shares iso4217:GBP 12271127 2022-10-01 2023-09-30 12271127 2023-09-30 12271127 2022-09-30 12271127 2021-10-01 2022-09-30 12271127 2022-09-30 12271127 2021-09-30 12271127 bus:LeadAgentIfApplicable 2022-10-01 2023-09-30 12271127 bus:Director1 2022-10-01 2023-09-30 12271127 core:AfterOneYear 2023-09-30 12271127 core:AfterOneYear 2022-09-30 12271127 core:WithinOneYear 2023-09-30 12271127 core:WithinOneYear 2022-09-30 12271127 core:ShareCapital 2023-09-30 12271127 core:ShareCapital 2022-09-30 12271127 core:RetainedEarningsAccumulatedLosses 2023-09-30 12271127 core:RetainedEarningsAccumulatedLosses 2022-09-30 12271127 core:CostValuation core:Non-currentFinancialInstruments 2023-09-30 12271127 core:Non-currentFinancialInstruments 2023-09-30 12271127 core:Non-currentFinancialInstruments 2022-09-30 12271127 bus:SmallEntities 2022-10-01 2023-09-30 12271127 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 12271127 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 12271127 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12271127 bus:FullAccounts 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 12271127
Thomas Group (Newport) Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2023
Thomas Group (Newport) Limited
Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Thomas Group (Newport) Limited
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thomas Group (Newport) Limited for the year ended 30 September 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
CLAY SHAW THOMAS LTD
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
12 August 2024
Thomas Group (Newport) Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
5
1,086,349
1,086,349
Current assets
Debtors
6
29,858
14,072
Cash at bank and in hand
10,918
12,235
--------
--------
40,776
26,307
Creditors: amounts falling due within one year
7
23,434
46,240
--------
--------
Net current assets/(liabilities)
17,342
( 19,933)
------------
------------
Total assets less current liabilities
1,103,691
1,066,416
Creditors: amounts falling due after more than one year
8
1,100,802
1,041,027
------------
------------
Net assets
2,889
25,389
------------
------------
Capital and reserves
Called up share capital
200
200
Profit and loss account
9
2,689
25,189
-------
--------
Shareholders funds
2,889
25,389
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Thomas Group (Newport) Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 10 August 2024 , and are signed on behalf of the board by:
Mr D V Thomas
Director
Company registration number: 12271127
Thomas Group (Newport) Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Waterways, Lisvane Road, Cardiff, CF14 0SF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Investments
Shares in group undertaking
£
Cost
At 1 October 2022 and 30 September 2023
1,086,349
------------
Impairment
At 1 October 2022 and 30 September 2023
------------
Carrying amount
At 30 September 2023
1,086,349
------------
At 30 September 2022
1,086,349
------------
6. Debtors
2023
2022
£
£
Other debtors
29,858
14,072
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,513
24,666
Trade creditors
72
Social security and other taxes
3,536
13,965
Other creditors
1,385
7,537
--------
--------
23,434
46,240
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
269,226
418,082
Amounts owed to group undertakings
831,576
622,945
------------
------------
1,100,802
1,041,027
------------
------------
Included within creditors: amounts falling due after more than one year is an amount of £203,415 (2022: £333,810) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Bank loans are secured by cross guarantee by LT Chemist Limited, a company under common control.
9. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
10. Directors' advances, credit and guarantees
Included within debtors are amounts owed by the Company Directors as follows:
2023
£
Balance owed to directors 1 October 2022 (6,152)
Net advances 22,992
--------
Balance owed by directors 30 September 2023 16,840
--------
There are no fixed terms of repayment or interest charged.
11. Related party transactions
During the year the company recharged expenses of £60,000 (2022: £114,000) to LT Chemist Limited. At the year end the company owed £430,943 (2022: £216,312). LT Chemist Limited is a company under common control. At the year end the company owed £400,633 (2022: £406,633) to LT Chemist Holdings Limited, a company under common control.
12. Ultimate controlling party
In the opinion of the directors, there is no ultimate controlling party.