Company registration number 06039687 (England and Wales)
Thompson Cooling Solutions Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Thompson Cooling Solutions Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Thompson Cooling Solutions Limited
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,661
29,841
Current assets
Stocks
3,180
3,420
Debtors
89,372
97,634
Cash at bank and in hand
50,420
142,972
101,054
Creditors: amounts falling due within one year
(145,630)
(109,393)
Net current liabilities
(2,658)
(8,339)
Total assets less current liabilities
15,003
21,502
Creditors: amounts falling due after more than one year
(9,959)
(14,842)
Provisions for liabilities
4
(4,415)
(5,670)
Net assets
629
990
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
529
890
Total equity
629
990
Thompson Cooling Solutions Limited
Statement of financial position (continued)
as at 31 March 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 October 2024
J Thompson
Director
Company Registration No. 06039687
Thompson Cooling Solutions Limited
Notes to the Financial Statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derived from the provision of goods falling within the company's ordinary activities. Turnover is recognised on supply of goods and services to the customer.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
15% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stock is valued at the lower of cost and net realisable value.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Thompson Cooling Solutions Limited
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
1
Accounting policies
(continued)
- 4 -
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relate to Coronavirus Job Retention Scheme (CJRS) funding of staff who have been furloughed due to Covid-19. These revenue-based grants are recognised over the same period in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
3,424
943
54,500
58,867
Disposals
(11,000)
(11,000)
At 31 March 2024
3,424
943
43,500
47,867
Depreciation and impairment
At 1 April 2023
3,278
873
24,875
29,026
Depreciation charged in the year
36
10
7,493
7,539
Eliminated in respect of disposals
(6,359)
(6,359)
At 31 March 2024
3,314
883
26,009
30,206
Carrying amount
At 31 March 2024
110
60
17,491
17,661
At 31 March 2023
146
70
29,625
29,841
Thompson Cooling Solutions Limited
Notes to the Financial Statements (continued)
for the year ended 31 March 2024
- 5 -
4
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
4,415
5,670
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
6
Company information
Thompson Cooling Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fairview House, Thorncliff, Kirkburton, Huddersfield, West Yorkshire, HD8 0UG.