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REGISTERED NUMBER: 00066322 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THOMAS GAMESON & SONS,LIMITED

THOMAS GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

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 GAMESON & SONS,LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: L K Gameson
H Gameson
C M L Allen





REGISTERED OFFICE: Alpha Works
Delta Way
Bridgtown
Cannock
Staffordshire
WS11 0DJ





REGISTERED NUMBER: 00066322 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Black Country House
Rounds Green Road
Oldbury
West Midlands
B69 2DG

THOMAS GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 7,500
Tangible assets 5 121,574 164,436
Fixed Asset Investments 6 3 3
127,577 171,939

CURRENT ASSETS
Stocks 228,270 248,213
Debtors 7 242,259 262,620
Cash at bank and in hand 229 330
470,758 511,163
CREDITORS
Amounts falling due within one year 8 212,861 218,669
NET CURRENT ASSETS 257,897 292,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

385,474

464,433

CREDITORS
Amounts falling due after more than
one year

9

115,354

196,142
NET ASSETS 270,120 268,291

CAPITAL AND RESERVES
Called up share capital 17,937 17,937
Retained earnings 252,183 250,354
SHAREHOLDERS' FUNDS 270,120 268,291

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 GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





L K Gameson - Director


THOMAS GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Thomas Gameson & Sons,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 2018, 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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 5% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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


THOMAS GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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 11 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 15,000
AMORTISATION
At 1 April 2023 7,500
Charge for year 1,500
At 31 March 2024 9,000
NET BOOK VALUE
At 31 March 2024 6,000
At 31 March 2023 7,500

THOMAS GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 62,336 275,715 20,799 229,902 588,752
Additions - 1,250 - 2,995 4,245
Disposals - (14,050 ) (3,451 ) (8,375 ) (25,876 )
At 31 March 2024 62,336 262,915 17,348 224,522 567,121
DEPRECIATION
At 1 April 2023 57,095 155,300 14,932 196,989 424,316
Charge for year 119 15,241 2,103 17,356 34,819
Eliminated on disposal - (2,845 ) (2,368 ) (8,375 ) (13,588 )
At 31 March 2024 57,214 167,696 14,667 205,970 445,547
NET BOOK VALUE
At 31 March 2024 5,122 95,219 2,681 18,552 121,574
At 31 March 2023 5,241 120,415 5,867 32,913 164,436

The net book value of assets held under finance leases or hire purchase contracts is £Nil (2023 - £9,458)

6. FIXED ASSET INVESTMENTS
Shares in
subsidiary
companies
£   
COST
At 1 April 2023
and 31 March 2024 3
NET BOOK VALUE
At 31 March 2024 3
At 31 March 2023 3

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 196,899 200,414
Other debtors 45,360 62,206
242,259 262,620

THOMAS GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

At the year end the company was owed £20,765 (2023: £39,439) from the director, included in other debtors. The maximum amount outstanding in the year was £39,439.

Interest was charged on this loan at HM Revenue, and Customs official rate of interest.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 107,491 110,620
Hire purchase contracts (see note 10)
5,325

5,627
Trade creditors 28,281 55,771
Taxation and social security 50,042 29,935
Other creditors 21,722 16,716
212,861 218,669

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 97,941 171,868
Hire purchase contracts (see note 10)
17,413

24,274
115,354 196,142

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 5,325 5,627
Between one and five years 17,413 24,274
22,738 29,901

THOMAS GAMESON & SONS,LIMITED (REGISTERED NUMBER: 00066322)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 7,459 10,250
Between one and five years - 3,537
7,459 13,787

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 22,738 29,901

Amounts included in obligations under finance lease and hire purchase contracts are secured on the assets to which the hire purchase contract relates.

12. PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. No contributions were outstanding at the balance sheet date.