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REGISTERED NUMBER: 03516425 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Thames Lubricants Limited

Thames Lubricants Limited (Registered number: 03516425)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Thames Lubricants Limited (Registered number: 03516425)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,650 1,650
Tangible assets 5 519,843 516,971
521,493 518,621

CURRENT ASSETS
Stocks 114,563 118,855
Debtors 6 119,235 128,994
Cash at bank and in hand 62,148 91,928
295,946 339,777
CREDITORS
Amounts falling due within one year 7 169,011 182,255
NET CURRENT ASSETS 126,935 157,522
TOTAL ASSETS LESS CURRENT LIABILITIES 648,428 676,143

CREDITORS
Amounts falling due after more than one year 8 (34,909 ) (34,303 )

PROVISIONS FOR LIABILITIES (10,695 ) (8,423 )
NET ASSETS 602,824 633,417

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 347,556 348,306
Retained earnings 255,168 285,011
SHAREHOLDERS' FUNDS 602,824 633,417

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

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

Thames Lubricants Limited (Registered number: 03516425)

Balance Sheet - continued
31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:




Mr A D Tomblin - Director



Mrs J Salt - Director


Thames Lubricants Limited (Registered number: 03516425)

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

1. STATUTORY INFORMATION

Thames Lubricants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03516425

Registered office: Garner Street
Stoke-on-Trent
Staffordshire
ST4 7DE

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the good supplied.

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.

Cherished registration plates are amortised at 0%.

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.
Freehold Land & Property - 2% on buildings
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Thames Lubricants Limited (Registered number: 03516425)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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
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 8 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Cherished
registration
plates
£   
COST
At 1 June 2023
and 31 May 2024 1,650
NET BOOK VALUE
At 31 May 2024 1,650
At 31 May 2023 1,650

Thames Lubricants Limited (Registered number: 03516425)

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

5. TANGIBLE FIXED ASSETS
Freehold Fixtures
Land & Plant and and Motor
Property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 June 2023 500,000 168,206 12,127 50,199 730,532
Additions - - 624 22,990 23,614
Disposals - - - (26,499 ) (26,499 )
At 31 May 2024 500,000 168,206 12,751 46,690 727,647
DEPRECIATION
At 1 June 2023 55,546 101,192 10,281 46,542 213,561
Charge for year 2,222 10,051 1,091 6,423 19,787
Eliminated on disposal - - - (25,544 ) (25,544 )
At 31 May 2024 57,768 111,243 11,372 27,421 207,804
NET BOOK VALUE
At 31 May 2024 442,232 56,963 1,379 19,269 519,843
At 31 May 2023 444,454 67,014 1,846 3,657 516,971

Cost or valuation at 31 May 2024 is represented by:

Freehold Fixtures
Land & Plant and and Motor
Property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 1999 67,500 - - - 67,500
Valuation in 2023 300,306 - - - 300,306
Cost 132,194 168,206 12,751 46,690 359,841
500,000 168,206 12,751 46,690 727,647

If Freehold Property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 132,194 132,194
Aggregate depreciation 38,268 36,796

Value of land in freehold land and buildings 93,926 95,398

Freehold property was valued on fair value basis on 31 May 2024 by the directors .

Thames Lubricants Limited (Registered number: 03516425)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 15,168 - 15,168
Additions - 22,990 22,990
At 31 May 2024 15,168 22,990 38,158
DEPRECIATION
At 1 June 2023 12,987 - 12,987
Charge for year 1,188 5,748 6,936
Transfer to ownership (5,737 ) - (5,737 )
At 31 May 2024 8,438 5,748 14,186
NET BOOK VALUE
At 31 May 2024 6,730 17,242 23,972
At 31 May 2023 2,181 - 2,181

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 92,662 100,918
Other debtors 26,573 28,076
119,235 128,994

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,555 5,555
Hire purchase contracts 2,506 3,034
Trade creditors 123,178 120,596
Taxation and social security 11,065 33,841
Other creditors 26,707 19,229
169,011 182,255

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 28,242 33,797
Hire purchase contracts 6,667 506
34,909 34,303

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,019 11,574

Thames Lubricants Limited (Registered number: 03516425)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 9,173 3,540

All debts are secured against the assets to which they relate.

10. RESERVES
Revaluation
reserve
£   
At 1 June 2023 348,306
Depreciation written back (750 )

At 31 May 2024 347,556

11. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £37,925 (2023 £58,040) This financial commitment represents the total amount of payments remaining on leases ending from 2022 - 2026.