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REGISTERED NUMBER: 10569764 (England and Wales)















Financial Statements for the Year Ended 5 April 2024

for

Captain Thornton's Limited

Captain Thornton's Limited (Registered number: 10569764)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Captain Thornton's Limited

Company Information
for the Year Ended 5 April 2024







DIRECTORS: J R Thornton
Mrs E L Thornton





SECRETARY: Mrs E L Thornton





REGISTERED OFFICE: 132 Dib Lane
Leeds
West Yorkshire
LS8 3AY





REGISTERED NUMBER: 10569764 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Captain Thornton's Limited (Registered number: 10569764)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,341 32,454
Tangible assets 5 3,817 2,714
28,158 35,168

CURRENT ASSETS
Stocks 4,939 3,936
Debtors 6 22,564 9,992
Cash at bank and in hand 26,647 25,524
54,150 39,452
CREDITORS
Amounts falling due within one year 7 53,796 39,455
NET CURRENT ASSETS/(LIABILITIES) 354 (3 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,512

35,165

CREDITORS
Amounts falling due after more than one year 8 (19,569 ) (27,447 )

PROVISIONS FOR LIABILITIES (955 ) (538 )
NET ASSETS 7,988 7,180

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7,986 7,178
7,988 7,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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.

Captain Thornton's Limited (Registered number: 10569764)

Balance Sheet - continued
5 April 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





J R Thornton - Director


Captain Thornton's Limited (Registered number: 10569764)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Captain Thornton's 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.

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 2017, 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Captain Thornton's Limited (Registered number: 10569764)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 6 April 2023
and 5 April 2024 81,132
AMORTISATION
At 6 April 2023 48,678
Charge for year 8,113
At 5 April 2024 56,791
NET BOOK VALUE
At 5 April 2024 24,341
At 5 April 2023 32,454

Captain Thornton's Limited (Registered number: 10569764)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 6 April 2023 6,139 828 1,441 8,408
Additions 124 1,606 557 2,287
Disposals - - (871 ) (871 )
At 5 April 2024 6,263 2,434 1,127 9,824
DEPRECIATION
At 6 April 2023 4,281 447 966 5,694
Charge for year 396 397 162 955
Eliminated on disposal - - (642 ) (642 )
At 5 April 2024 4,677 844 486 6,007
NET BOOK VALUE
At 5 April 2024 1,586 1,590 641 3,817
At 5 April 2023 1,858 381 475 2,714

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Trade debtors 2,167 835
Other debtors 20,397 9,157
22,564 9,992

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Bank loans and overdrafts 10,024 6,576
Trade creditors 8,988 6,822
Taxation and social security 30,850 20,796
Other creditors 3,934 5,261
53,796 39,455

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
5.4.24 5.4.23
£    £   
Bank loans 19,569 27,447

Captain Thornton's Limited (Registered number: 10569764)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
5.4.24 5.4.23
£    £   
Within one year 8,400 8,400
Between one and five years 33,600 33,600
In more than five years 4,900 13,300
46,900 55,300

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 5 April 2024 and 5 April 2023:

5.4.24 5.4.23
£    £   
Mrs E L Thornton and J R Thornton
Balance outstanding at start of year - -
Amounts advanced 18,535 19,660
Amounts repaid - (19,660 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,535 -