Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-01falseplumbing, heat and air-conditioning installation22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI013363 2023-03-01 2024-02-29 NI013363 2022-03-01 2023-02-28 NI013363 2024-02-29 NI013363 2023-02-28 NI013363 2022-03-01 NI013363 c:CompanySecretary1 2023-03-01 2024-02-29 NI013363 c:Director1 2023-03-01 2024-02-29 NI013363 c:RegisteredOffice 2023-03-01 2024-02-29 NI013363 c:Agent1 2023-03-01 2024-02-29 NI013363 d:Buildings 2023-03-01 2024-02-29 NI013363 d:Buildings 2024-02-29 NI013363 d:Buildings 2023-02-28 NI013363 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 NI013363 d:FurnitureFittings 2023-03-01 2024-02-29 NI013363 d:FurnitureFittings 2024-02-29 NI013363 d:FurnitureFittings 2023-02-28 NI013363 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 NI013363 d:ComputerEquipment 2023-03-01 2024-02-29 NI013363 d:ComputerEquipment 2024-02-29 NI013363 d:ComputerEquipment 2023-02-28 NI013363 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 NI013363 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 NI013363 d:CurrentFinancialInstruments 2024-02-29 NI013363 d:CurrentFinancialInstruments 2023-02-28 NI013363 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 NI013363 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 NI013363 d:ShareCapital 2023-03-01 2024-02-29 NI013363 d:ShareCapital 2024-02-29 NI013363 d:ShareCapital 2022-03-01 2023-02-28 NI013363 d:ShareCapital 2023-02-28 NI013363 d:ShareCapital 2022-03-01 NI013363 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 NI013363 d:RetainedEarningsAccumulatedLosses 2024-02-29 NI013363 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 NI013363 d:RetainedEarningsAccumulatedLosses 2023-02-28 NI013363 d:RetainedEarningsAccumulatedLosses 2022-03-01 NI013363 c:OrdinaryShareClass1 2023-03-01 2024-02-29 NI013363 c:OrdinaryShareClass1 2024-02-29 NI013363 c:OrdinaryShareClass1 2023-02-28 NI013363 c:FRS102 2023-03-01 2024-02-29 NI013363 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 NI013363 c:FullAccounts 2023-03-01 2024-02-29 NI013363 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI013363 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
Brian Thompson Limited
For the Year Ended 29 February 2024





































Registered number: NI013363

 
Brian Thompson Limited
 

Company Information


Director
Mr I Thompson 




Company secretary
Mrs D J Thompson



Registered number
NI013363



Registered office
72 Central Avenue

Bangor

Down

BT20 3AU




Accountants
Grant Thornton (NI) LLP
Chartered Accountants

12-15 Donegal Square West

Belfast

BT1 6JH




Bankers
Danske Bank
77 Main Street

Bangor

Down

BT20 5AP





 
Brian Thompson Limited
 

Contents



Page
Accountant's report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 11


  
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Independent Accountant's Report to the director of the unaudited financial statements of Brian Thompson Limited for the Year Ended 29 February 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Brian Thompson Limited for the year ended 29 February 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Brian Thompson Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Brian Thompson Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brian Thompson Limited and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 29 February 2024 and you have acknowledged on the Balance sheet as at 29 February 2024 your duty to ensure that Brian Thompson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Brian Thompson Limited is exempt from the statutory audit requirement for the year ended 29 February 2024.

We have not been instructed to carry out an audit or review the financial statements of Brian Thompson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton (NI) LLP

Chartered Accountants
12-15 Donegal Square West
Belfast
BT1 6JH







Date:   17 October 2024
Page 1

 
Brian Thompson Limited
Registered number:NI013363

Balance sheet
As at 29 February 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
6,105
6,355

  
6,105
6,355

Current assets
  

Stocks
 6 
46,721
43,972

Debtors: amounts falling due within one year
 7 
63,523
63,002

  
110,244
106,974

Creditors: amounts falling due within one year
 9 
(97,387)
(98,638)

Net current assets
  
 
 
12,857
 
 
8,336

Total assets less current liabilities
  
18,962
14,691

  

Net assets
  
18,962
14,691


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Profit and loss account
 11 
17,962
13,691

  
18,962
14,691


Page 2

 
Brian Thompson Limited
Registered number:NI013363

Balance sheet (continued)
As at 29 February 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 October 2024.



Mr I Thompson
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
Brian Thompson Limited
 

Statement of changes in equity
For the Year Ended 29 February 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2023
1,000
13,691
14,691


Comprehensive income for the year

Profit for the year
-
27,147
27,147
Total comprehensive income for the year
-
27,147
27,147

Dividends: Equity capital
-
(22,876)
(22,876)


At 29 February 2024
1,000
17,962
18,962



Statement of changes in equity
For the Year Ended 28 February 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2022
1,000
26,421
27,421


Comprehensive income for the year

Profit for the year
-
8,704
8,704
Total comprehensive income for the year
-
8,704
8,704

Dividends: Equity capital
-
(21,434)
(21,434)


At 28 February 2023
1,000
13,691
14,691


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

1.


General information

Brian Thompson Limited is a private company limited by shares and incorporated in Northern Ireland. The registered office is 72 Central avenue, Bangor, Co Down, BT20 3AU.
The principal activity of the company is the supply and installation of plumbing, heating and air-conditioning equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The fianaical statements are presented in Sterling (£)

The following principal accounting policies have been applied:

  
2.2

Going concern

The director has assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

Page 5

 
Brian Thompson Limited
 

Notes to the financial statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 6

 
Brian Thompson Limited
 

Notes to the financial statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance methods.

Depreciation is provided on the following basis:

Alterations to property
-
2% straight line
Fixtures & fittings
-
15% reducing balance
Computer equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
Brian Thompson Limited
 

Notes to the financial statements
For the Year Ended 29 February 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgment or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a) Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.
b) Carrying value of stocks
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.

Page 8

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


5.


Tangible fixed assets







Alterations to property
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
12,907
18,505
35,707
67,119



At 29 February 2024

12,907
18,505
35,707
67,119



Depreciation


At 1 March 2023
6,552
18,505
35,707
60,764


Charge for the year on owned assets
250
-
-
250



At 29 February 2024

6,802
18,505
35,707
61,014



Net book value



At 29 February 2024
6,105
-
-
6,105



At 28 February 2023
6,355
-
-
6,355


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
46,721
43,972

46,721
43,972


Page 9

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

7.


Debtors

2024
2023
£
£


Trade debtors
63,108
62,553

Prepayments and accrued income
415
449

63,523
63,002



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Less: bank overdrafts
(31,027)
(49,359)

(31,027)
(49,359)



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
31,027
49,359

Trade creditors
51,811
40,155

Corporation tax
6,748
2,467

Other taxation and social security
5,601
4,857

Accruals and deferred income
2,200
1,800

97,387
98,638



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 10

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 29 February 2024

11.


Reserves

Profit & loss account

Includes all current and prior period retained profits and losses.


12.


Controlling party

The company is controlled by the Director.


Page 11