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REGISTERED NUMBER: 06290966 (England and Wales)









STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

THOMAS FIRBANK REMOVALS LIMITED

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


THOMAS FIRBANK REMOVALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: A Ward-Thomas
C A S Rickards
T Bloch





SECRETARY: J Kok





REGISTERED OFFICE: 141 Acton Lane
London
NW10 7PB





REGISTERED NUMBER: 06290966 (England and Wales)





AUDITORS: Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023


The directors present their strategic report for the year ended 30 September 2023.

REVIEW OF BUSINESS
The year ended 30 September 2023 saw tough trading conditions due to the general economic environment and the impact of high interest rates on the housing market. However, the directors are pleased to report that despite the difficult conditions the company only suffered very small decreases in both turnover and profitability. The company has a high level of ongoing storage revenue and it remains in a stable position with no bank loans and the support of its fellow group companies.

The directors and management continue to monitor operational and overhead costs to identify opportunities for cost cutting measures whilst maintaining the company's high standards of customer service. In the context of the Key Performance Indicators mentioned below, the directors are satisfied with the profit generated in the financial year.

Key performance indicators

2023 2022
Turnover £1,530,477 £1,559,253
Gross profit % 56.3% 57.1%
EBITDA % 23.8% 25.8%
Profit before tax % 16.5% 18.6%

The directors assess the performance of the business by reference to two main measurements seeking to achieve an EBITDA of 15% and a EBITA of 10%. The board regularly meet to consider management accounts and to compare actual results to the stated financial objectives and budgets.

Health and safety, employees and environment
The company aims to identify, assess and control occupational health hazards and, where practicable, to eliminate work related diseases. Every new case of an occupational disease is reported.

The directors believe that every work-related incident, illness and injury is preventable. Every new case of a work related injury is reported to the board, including outcomes of and corrective action resulting from regular Health and Safety inspections.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors consider the main financial risks to the business as being the volatility in the commercial and residential property market resulting from interest rate movements. The company seeks to limit these business risks by offering on-site storage facilities to generate recurring income and by diversifying into other areas such as value added distribution services.

FUTURE DEVELOPMENTS
Despite the unfavourable economic climate continuing in 2024, the company is currently trading well with turnover and profit only slightly below budget.

ON BEHALF OF THE BOARD:





C A S Rickards - Director


21 August 2024

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


The directors present their report with the financial statements of the company for the year ended 30 September 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of removals and storage.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2022 to the date of this report.

A Ward-Thomas
C A S Rickards
T Bloch

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


AUDITORS
The auditors, Fawcetts LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C A S Rickards - Director


21 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THOMAS FIRBANK REMOVALS LIMITED


Opinion
We have audited the financial statements of Thomas Firbank Removals Limited (the 'company') for the year ended 30 September 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THOMAS FIRBANK REMOVALS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THOMAS FIRBANK REMOVALS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities and fraud
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations we consider the following:

- the nature of the industry/sector, control environment and financial performance;

-
results of our enquiries of management about their own identification and assessment of the risk of
irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and
procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected
or alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;.
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the
financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue and profit recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

Audit response to risk identified
As a result of performing the above, we identified revenue and profit recognition, stock valuation, estimation techniques and management override of controls as key matters related to the potential risk of fraud or material misstatement. Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;
- understanding the entity's revenue recognition policies and how they are applied, including the relevant
controls and processes and performing a walk-through to validate our understanding;
- performing analytical procedures to compare revenue recognised against expectations, past results, and
management forecasts, and investigated material divergences by obtaining corroborative evidence;
- reading minutes of meetings of those charged with governance and reviewing any correspondence with HMRC;
and


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THOMAS FIRBANK REMOVALS LIMITED

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Ellingham FCA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

21 August 2024

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

INCOME STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023 2022
Notes £    £   

TURNOVER 1,530,477 1,559,253

Cost of sales 668,585 668,601
GROSS PROFIT 861,892 890,652

Administrative expenses 605,753 599,134
OPERATING PROFIT 256,139 291,518


Interest payable and similar expenses 4 3,848 1,785
PROFIT BEFORE TAXATION 5 252,291 289,733

Tax on profit 6 5,418 63,817
PROFIT FOR THE FINANCIAL YEAR 246,873 225,916

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 246,873 225,916


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

246,873

225,916

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 469,199 472,684
469,199 472,684

CURRENT ASSETS
Debtors 9 2,443,258 1,697,328
Cash at bank 9,872 14,615
2,453,130 1,711,943
CREDITORS
Amounts falling due within one year 10 1,738,815 1,253,404
NET CURRENT ASSETS 714,315 458,539
TOTAL ASSETS LESS CURRENT LIABILITIES 1,183,514 931,223

PROVISIONS FOR LIABILITIES 13 80,419 75,001
NET ASSETS 1,103,095 856,222

CAPITAL AND RESERVES
Called up share capital 14 1,000 1,000
Retained earnings 15 1,102,095 855,222
SHAREHOLDERS' FUNDS 1,103,095 856,222

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:





C A S Rickards - Director


THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2021 1,000 629,306 630,306

Changes in equity
Total comprehensive income - 225,916 225,916
Balance at 30 September 2022 1,000 855,222 856,222

Changes in equity
Total comprehensive income - 246,873 246,873
Balance at 30 September 2023 1,000 1,102,095 1,103,095

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 108,785 277,563
Interest paid (29 ) -
Interest element of hire purchase or finance
lease rental payments paid

(3,819

)

(1,785

)
Tax paid (4,692 ) -
Net cash from operating activities 100,245 275,778

Cash flows from investing activities
Purchase of tangible fixed assets (105,348 ) (274,254 )
Sale of tangible fixed assets 360 -
Net cash from investing activities (104,988 ) (274,254 )

(Decrease)/increase in cash and cash equivalents (4,743 ) 1,524
Cash and cash equivalents at beginning of
year

2

14,615

13,091

Cash and cash equivalents at end of year 2 9,872 14,615

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 252,291 289,733
Depreciation charges 108,473 110,412
Finance costs 3,848 1,785
364,612 401,930
Increase in trade and other debtors (745,930 ) (722,355 )
Increase in trade and other creditors 490,103 597,988
Cash generated from operations 108,785 277,563

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 9,872 14,615
Year ended 30 September 2022
30.9.22 1.10.21
£    £   
Cash and cash equivalents 14,615 13,091


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.22 Cash flow At 30.9.23
£    £    £   
Net cash
Cash at bank 14,615 (4,743 ) 9,872
14,615 (4,743 ) 9,872
Total 14,615 (4,743 ) 9,872

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Thomas Firbank Removals 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
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" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company.

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 2012, is being 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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 20% on cost

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.

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

Debtors
Debtors are measured at their recoverable amount.

Creditors
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Exceptional items
The company classifies certain one-off charges or credits that have a material impact on the financial results as ‘exceptional items’. These are disclosed separately to provide further understanding of the financial performance of the company.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 556,279 531,459
Social security costs 52,994 54,504
Other pension costs 10,095 10,082
619,368 596,045

The average number of employees during the year was as follows:
2023 2022

Sales and administration 4 4
Operations 12 13
16 17

2023 2022
£    £   
Directors' remuneration - -

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Other interest 29 -
Hire purchase 3,819 1,785
3,848 1,785

5. PROFIT BEFORE TAXATION

The profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 67,853 83,342
Depreciation - assets on hire purchase contracts or finance leases 40,620 27,070
Auditors' remuneration 4,480 6,000

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax - 4,692

Deferred tax 5,418 59,125
Tax on profit 5,418 63,817

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 252,291 289,733
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

63,073

55,049

Effects of:
Capital allowances in excess of depreciation (7,537 ) (50,357 )
Movement in deferred tax 5,418 59,125
Group relief (48,890 ) -
Effect of changes in the tax rate (6,646 ) -
Total tax charge 5,418 63,817

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 50,000
AMORTISATION
At 1 October 2022
and 30 September 2023 50,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

8. TANGIBLE FIXED ASSETS
Freehold
and
leasehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 October 2022 90,539 463,005 442,899 996,443
Additions - 701 104,647 105,348
Disposals - - (19,149 ) (19,149 )
At 30 September 2023 90,539 463,706 528,397 1,082,642
DEPRECIATION
At 1 October 2022 17,125 286,788 219,846 523,759
Charge for year 7,281 44,215 56,977 108,473
Eliminated on disposal - - (18,789 ) (18,789 )
At 30 September 2023 24,406 331,003 258,034 613,443
NET BOOK VALUE
At 30 September 2023 66,133 132,703 270,363 469,199
At 30 September 2022 73,414 176,217 223,053 472,684

Included within motor vehicles are assets with a total net book value of £234,022 (2022 £169,995) that are held under hire purchase contracts. The hire purchase liabilities are included in the financial statements of the immediate parent company, Master Removers Group Ltd.

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,460 31,392
Due from group companies 2,352,201 1,613,735
Other debtors 10,800 -
Prepayments 55,797 52,201
2,443,258 1,697,328

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Payments on account 32,141 57,158
Trade creditors 25,898 45,446
Owed to group companies 1,577,754 1,013,514
Corporation tax - 4,692
Social security and other taxes 51,136 50,041
Accruals and deferred income 51,886 82,553
1,738,815 1,253,404

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 76,353 125,000
Between one and five years 200,000 226,353
In more than five years 208,330 258,330
484,683 609,683

12. SECURED DEBTS

Assets held under hire purchase agreements arranged by the parent company are secured on the assets to which they relate.

13. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 80,419 75,001

THOMAS FIRBANK REMOVALS LIMITED (REGISTERED NUMBER: 06290966)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


13. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2022 75,001
Charge to Income Statement during year 5,418
Balance at 30 September 2023 80,419

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

15. RESERVES
Retained
earnings
£   

At 1 October 2022 855,222
Profit for the year 246,873
At 30 September 2023 1,102,095

16. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The directors are considered to be the key management personnel of the company. The directors are remunerated at group level.

17. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Master Removers Group Limited.

The ultimate parent company during the year ended 30 September 2023 was Master Removers Group 2019 Ltd.

On 6 February 2024 Master Removers Group 2019 Ltd became a wholly owned subsidiary of Master Removers Group 2023 Ltd.

In the opinion of the directors, no one individual has control of Master Removers Group 2019 Ltd or Master Removers Group 2023 Ltd..