Thomson Carter Limited NI700620 false 2023-08-18 2023-12-31 2023-12-31 The principal activity of the company is retail sale of cosmetics and toiletries Digita Accounts Production Advanced 6.30.9574.0 true false true NI700620 2023-08-18 2023-12-31 NI700620 2023-12-31 NI700620 bus:OrdinaryShareClass1 2023-12-31 NI700620 core:CurrentFinancialInstruments 2023-12-31 NI700620 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI700620 bus:SmallEntities 2023-08-18 2023-12-31 NI700620 bus:Audited 2023-08-18 2023-12-31 NI700620 bus:FilletedAccounts 2023-08-18 2023-12-31 NI700620 bus:SmallCompaniesRegimeForAccounts 2023-08-18 2023-12-31 NI700620 bus:RegisteredOffice 2023-08-18 2023-12-31 NI700620 bus:Director1 2023-08-18 2023-12-31 NI700620 bus:Director2 2023-08-18 2023-12-31 NI700620 bus:OrdinaryShareClass1 2023-08-18 2023-12-31 NI700620 bus:PrivateLimitedCompanyLtd 2023-08-18 2023-12-31 NI700620 1 2023-08-18 2023-12-31 NI700620 countries:NorthernIreland 2023-08-18 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI700620

Thomson Carter Limited

Filleted Financial Statements

for the Period from 18 August 2023 to 31 December 2023

 

Thomson Carter Limited

(Registration number: NI700620)
Balance Sheet as at 31 December 2023

Note

2023
£

Current assets

 

Stocks

4

40,275

Debtors

5

269,790

Cash at bank and in hand

 

57,803

 

367,868

Creditors: due within one year

6

(596,462)

Net liabilities

 

(228,594)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(228,694)

Shareholders' deficit

 

(228,594)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 September 2024 and signed on its behalf by:
 

.........................................
Mr Connor Martin
Director

.........................................
Mr Seamus O'Connor
Director

 
     
 

Thomson Carter Limited

Notes to the Financial Statements for the Period from 18 August 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 13 Craigstown Road Industrial Estate, Craigstown Road, Randalstown, Co Antrim, BT41 2PT.

These financial statements were authorised for issue by the Board on 27 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

This is the first trading period of the company and it has incurred some set-up costs which has resulted in a net loss for the year. This has been financed by intergroup loans which will continue to be made available. The directors are encouraged by the growth in sales after the year-end and anticipate that the company will be profit making within the short-term. The accounts have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 27 September 2024 was Peter Stevenson, who signed for and on behalf of Stevenson and Wilson.

Revenue recognition

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.

 

Thomson Carter Limited

Notes to the Financial Statements for the Period from 18 August 2023 to 31 December 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Thomson Carter Limited

Notes to the Financial Statements for the Period from 18 August 2023 to 31 December 2023

4

Stocks

2023
£

Stocks

40,275

5

Debtors

Note

2023
£

Trade debtors

 

34,072

Amounts owed by related parties

8

105,864

Other debtors

 

129,854

   

269,790

6

Creditors

2023
£

Trade creditors

456,686

Amounts owed to group undertakings

109,218

Accruals and deferred income

30,558

596,462

7

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

100

100

   
 

Thomson Carter Limited

Notes to the Financial Statements for the Period from 18 August 2023 to 31 December 2023

8

Related party transactions

The Company has taken advantage of the exemption provisions in FRS 102 permitting non-disclosure of transactions with fellow group companies.

9

Parent and ultimate parent undertaking

The company's immediate parent is JAQ Group Holdings Limited, incorporated in Northern Ireland.

 The ultimate controlling party is Connor Martin.

The parent of the largest group in which these financial statements are consolidated is JAQ Group Holdings Limited.