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REGISTERED NUMBER: 08122600 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Thomas Percy Construction Limited

Thomas Percy Construction Limited (Registered number: 08122600)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thomas Percy Construction Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs B A Percy
T S A Percy





REGISTERED OFFICE: 6 Gimson Road
Leicester
Leicestershire
LE3 6DY





REGISTERED NUMBER: 08122600 (England and Wales)





ACCOUNTANTS: Tollingtons Accountants Limited
Chartered Certified Accountants
11 Ashton Drive
Enderby
Leicestershire
LE19 4BA

Thomas Percy Construction Limited (Registered number: 08122600)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,827 20,997

CURRENT ASSETS
Stocks 83,117 110,633
Debtors 5 29,574 11,351
Cash at bank 62,957 22,417
175,648 144,401
CREDITORS
Amounts falling due within one year 6 118,440 134,819
NET CURRENT ASSETS 57,208 9,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,035

30,579

CREDITORS
Amounts falling due after more than one
year

7

14,800

28,742
NET ASSETS 58,235 1,837

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 58,233 1,835
SHAREHOLDERS' FUNDS 58,235 1,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Thomas Percy Construction Limited (Registered number: 08122600)

Balance Sheet - continued
31 March 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 31 October 2024 and were signed on its behalf by:





T S A Percy - Director


Thomas Percy Construction Limited (Registered number: 08122600)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Thomas Percy Construction 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Thomas Percy Construction Limited (Registered number: 08122600)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,300 64,238 65,538
DEPRECIATION
At 1 April 2023 502 44,039 44,541
Charge for year 120 5,050 5,170
At 31 March 2024 622 49,089 49,711
NET BOOK VALUE
At 31 March 2024 678 15,149 15,827
At 31 March 2023 798 20,199 20,997

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 20,495
DEPRECIATION
At 1 April 2023
and 31 March 2024 8,967
NET BOOK VALUE
At 31 March 2024 11,528
At 31 March 2023 11,528

Thomas Percy Construction Limited (Registered number: 08122600)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 24,418 5,382
Other debtors 648 1,233
Prepayments 4,508 4,736
29,574 11,351

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 4,543 3,942
Trade creditors 27,239 40,810
Tax 5,032 -
Social security and other taxes 7,160 14,677
VAT 16,822 16,992
Pension creditor 231 230
Directors' current accounts 46,813 46,268
Accrued expenses 600 1,900
118,440 134,819

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 12,500 22,500
Hire purchase contracts 2,300 6,242
14,800 28,742

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 6,843 10,184

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

10. OTHER FINANCIAL COMMITMENTS

The company has future property operating lease commitments of £5,830 per year for at least 1 year.