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REGISTERED NUMBER: 00189360 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Thor Hammer Company Limited

Thor Hammer Company Limited (Registered number: 00189360)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thor Hammer Company Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D J Mathers
J D Stephens
Mrs J R O'Connell
Mrs H M Stephens
A K Hawkins
R M Stephens
H P M O'Connell
S P Mason





REGISTERED OFFICE: Highlands Road
Shirley
Birmingham
B90 4NJ





REGISTERED NUMBER: 00189360 (England and Wales)





ACCOUNTANTS: Mallett Jones
3 Hagley Court North
The Waterfront
Dudley
West Midlands
DY5 1XF

Thor Hammer Company Limited (Registered number: 00189360)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 778,174 849,507

CURRENT ASSETS
Stocks 1,643,300 1,951,333
Debtors 5 1,036,972 1,156,147
Cash at bank and in hand 1,041,284 1,059,685
3,721,556 4,167,165
CREDITORS
Amounts falling due within one year 6 268,121 618,172
NET CURRENT ASSETS 3,453,435 3,548,993
TOTAL ASSETS LESS CURRENT LIABILITIES 4,231,609 4,398,500

PROVISIONS FOR LIABILITIES 93,867 100,494
NET ASSETS 4,137,742 4,298,006

CAPITAL AND RESERVES
Called up share capital 9,900 9,900
Revaluation reserve 7 317,617 323,060
Capital redemption reserve 29,700 29,700
Retained earnings 3,780,525 3,935,346
SHAREHOLDERS' FUNDS 4,137,742 4,298,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Thor Hammer Company Limited (Registered number: 00189360)

Balance Sheet - continued
31 December 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2024 and were signed on its behalf by:




A K Hawkins - Director



S P Mason - Director


Thor Hammer Company Limited (Registered number: 00189360)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Thor Hammer Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected life , as follows:

Freehold Property - 1% straight line basis
Plant, machinery and plant tools - 20% and 25% reducing balance basis
Fixtures, fittings and equipment - 25% reducing balance basis
Motor vehicles - 331/3% reducing balance basis
Computer equipment - 331/3% straight line basis

Depreciation is not applied in the year of purchase with the exception of motor vehicles, computer equipment and plant tools.

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss account.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value,after making due allowance for obsolete and slow moving stock. Work in progress is reflected in the accounts on a product by product basis by recording the related costs for each stage of production reached.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Thor Hammer Company Limited (Registered number: 00189360)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 34 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2023 767,913 1,470,062 244,269 114,058 2,596,302
Additions - 16,462 10,849 - 27,311
Disposals - - (12,718 ) (61,500 ) (74,218 )
At 31 December 2023 767,913 1,486,524 242,400 52,558 2,549,395
DEPRECIATION
At 1 January 2023 206,135 1,232,099 226,315 82,246 1,746,795
Charge for year 7,587 51,418 8,865 3,293 71,163
Eliminated on disposal - - (12,718 ) (34,019 ) (46,737 )
At 31 December 2023 213,722 1,283,517 222,462 51,520 1,771,221
NET BOOK VALUE
At 31 December 2023 554,191 203,007 19,938 1,038 778,174
At 31 December 2022 561,778 237,963 17,954 31,812 849,507

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 1990 620,000 - - - 620,000
Cost 147,913 1,486,524 242,400 52,558 1,929,395
767,913 1,486,524 242,400 52,558 2,549,395

If the freehold property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 108,309 108,309
Aggregate depreciation 63,803 63,138

Thor Hammer Company Limited (Registered number: 00189360)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS - continued

The Freehold property was last revalued during the year ended 31 December 1990. The Company has taken advantage of the transitional relief under FRS 102 to use this previous GAAP revaluation as the deemed cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,004,714 1,006,839
Other debtors 32,258 149,308
1,036,972 1,156,147

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 169,965 481,945
Taxation and social security 83,970 87,427
Other creditors 14,186 48,800
268,121 618,172

7. RESERVES
Revaluation
reserve
£   
At 1 January 2023 323,060
Transfer excess depreciation
on revalued assets over
historical cost (5,443 )

At 31 December 2023 317,617

8. CONTINGENT LIABILITIES

The Company has a contingent liability to Handelsbanken relating to guarantees given by Handelsbanken to HM Revenue and Customs and Excise for £100,000.

9. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - 14,850