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REGISTERED NUMBER: 04465760 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

May & Thomson Ltd

May & Thomson Ltd (Registered number: 04465760)

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


May & Thomson Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S Chandarana
Mrs G Chandarana
Mrs N Chandarana



SECRETARY: Mrs G Chandarana



REGISTERED OFFICE: 3 Hurst Place
Northwood
Middlesex
HA6 2JS



REGISTERED NUMBER: 04465760 (England and Wales)



ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN



BANKERS: Bank of Scotland
600 Gorgie Road
Edinburgh
EH11 3XP

May & Thomson Ltd (Registered number: 04465760)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 10,329 9,551
Investments 6 115,000 115,000
125,329 124,551

CURRENT ASSETS
Stocks 64,367 55,050
Debtors 7 1,625,877 1,632,703
Cash at bank 378,627 357,760
2,068,871 2,045,513
CREDITORS
Amounts falling due within one year 8 513,686 507,535
NET CURRENT ASSETS 1,555,185 1,537,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,680,514

1,662,529

CREDITORS
Amounts falling due after more than one
year

9

(33,334

)

(38,890

)

PROVISIONS FOR LIABILITIES (2,454 ) (2,232 )
NET ASSETS 1,644,726 1,621,407

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,644,626 1,621,307
SHAREHOLDERS' FUNDS 1,644,726 1,621,407

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.

May & Thomson Ltd (Registered number: 04465760)

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 12 November 2024 and were signed on its behalf by:





S Chandarana - Director


May & Thomson Ltd (Registered number: 04465760)

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


1. STATUTORY INFORMATION

May & Thomson Ltd 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.

The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed. Where amounts are received in advance these recognition is deferred until such a time that the above conditions have been met. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Rental income is recognised when the right to it has been established and exclusive of value added tax. Government grants are recognised on an accruals basis in accordance with the substance of the relevant agreement.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on reducing balance

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

May & Thomson Ltd (Registered number: 04465760)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

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 contributes to employee pension schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

May & Thomson Ltd (Registered number: 04465760)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 250,375
AMORTISATION
At 1 April 2023
and 31 March 2024 250,375
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 78,268
Additions 2,613
At 31 March 2024 80,881
DEPRECIATION
At 1 April 2023 68,717
Charge for year 1,835
At 31 March 2024 70,552
NET BOOK VALUE
At 31 March 2024 10,329
At 31 March 2023 9,551

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Brought forward 115,000 30,000
Capital introduced - 85,000
115,000 115,000

May & Thomson Ltd (Registered number: 04465760)

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


6. FIXED ASSET INVESTMENTS - continued

Investments (neither listed nor unlisted) represents the fair value of the company's capital account balance in a limited liability partnership.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,578 115,132
Other debtors 1,517,299 1,517,571
1,625,877 1,632,703

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 112,003 110,272
Taxation and social security 12,996 32,322
Other creditors 383,131 359,385
513,686 507,535

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 33,334 38,890

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,111 16,667

10. RELATED PARTY DISCLOSURES

As at the balance sheet date £372,368 (2023: £356,535) was owed to key management personnel and included in other creditors falling due within one year. The loan is interest free and repayable on demand.

As at the balance sheet date £1,480,955 (2023: £1,480,955) was owed from companies connected to key management personnel and included in other debtors falling due within one year. The loans are interest free and repayable on demand.