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REGISTERED NUMBER: SC075023 (Scotland)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THOM MICRO SYSTEMS LIMITED

THOM MICRO SYSTEMS LIMITED (REGISTERED NUMBER: SC075023)






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


THOM MICRO SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G Thom
A J Thom
R Thom





SECRETARY: A J Thom





REGISTERED OFFICE: 7 Central Park Avenue
Larbert
Falkirk
FK5 4RX





REGISTERED NUMBER: SC075023 (Scotland)





ACCOUNTANTS: Robert J Hart & Company
Chartered Accountants
Arran House
15D Skye Road
Prestwick
Ayrshire
KA9 2TA

THOM MICRO SYSTEMS LIMITED (REGISTERED NUMBER: SC075023)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 179,245 212,067

CURRENT ASSETS
Debtors 5 651,433 700,818
Cash at bank and in hand 2,534,711 2,282,940
3,186,144 2,983,758
CREDITORS
Amounts falling due within one year 6 1,548,633 1,432,841
NET CURRENT ASSETS 1,637,511 1,550,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,816,756

1,762,984

PROVISIONS FOR LIABILITIES 14,408 16,387
NET ASSETS 1,802,348 1,746,597

CAPITAL AND RESERVES
Called up share capital 5,600 5,600
Share premium 13,600 13,600
Capital redemption reserve 13,000 13,000
Retained earnings 1,770,148 1,714,397
1,802,348 1,746,597

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.

THOM MICRO SYSTEMS LIMITED (REGISTERED NUMBER: SC075023)

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 16 September 2024 and were signed on its behalf by:





A J Thom - Director


THOM MICRO SYSTEMS LIMITED (REGISTERED NUMBER: SC075023)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Thom Micro Systems Limited is a private company, limited by shares , registered in Scotland. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision
of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,
returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation, other than on land, is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - 4% straight line basis
Plant and machinery etc - 25% on reducing balance, 100% on cost, 50% on cost, 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.

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.

THOM MICRO SYSTEMS LIMITED (REGISTERED NUMBER: SC075023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 385,408 337,940 723,348
Additions - 5,789 5,789
At 31 December 2023 385,408 343,729 729,137
DEPRECIATION
At 1 January 2023 252,818 258,463 511,281
Charge for year 12,672 25,939 38,611
At 31 December 2023 265,490 284,402 549,892
NET BOOK VALUE
At 31 December 2023 119,918 59,327 179,245
At 31 December 2022 132,590 79,477 212,067

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 605,458 556,743
Other debtors 45,975 144,075
651,433 700,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 322,748 225,901
Taxation and social security 198,808 187,627
Other creditors 1,027,077 1,019,313
1,548,633 1,432,841

7. RELATED PARTY DISCLOSURES

A loan from a director of £100,000 was repaid in the year. Interest of £3,000 was paid during the year (2022 - £6,000).

Other loans included in other creditors of £130,000 (2022-£130,000) payable to directors and shareholders are interest free and are repayable on demand.