Registered number
11848145
Thompson Tree Services (North East) Limited
Filleted Accounts
29 February 2024
Thompson Tree Services (North East) Limited
Registered number: 11848145
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,115 7,315
Tangible assets 4 70,456 83,275
76,571 90,590
Current assets
Stocks 510 -
Debtors 5 33,092 41,583
Cash at bank and in hand 16,403 11,888
50,005 53,471
Creditors: amounts falling due within one year 6 (44,359) (48,545)
Net current assets 5,646 4,926
Total assets less current liabilities 82,217 95,516
Creditors: amounts falling due after more than one year 7 (11,938) (29,850)
Provisions for liabilities (13,386) (15,822)
Net assets 56,893 49,844
Capital and reserves
Called up share capital 1 1
Profit and loss account 56,892 49,843
Shareholders' funds 56,893 49,844
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Thompson
Director
Approved by the board on 31 October 2024
Thompson Tree Services (North East) Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at the following rates:-
Plant and machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 12,000
At 29 February 2024 12,000
Amortisation
At 1 March 2023 4,685
Provided during the year 1,200
At 29 February 2024 5,885
Net book value
At 29 February 2024 6,115
At 28 February 2023 7,315
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 106,208 33,652 139,860
Additions 1,003 - 1,003
At 29 February 2024 107,211 33,652 140,863
Depreciation
At 1 March 2023 35,568 21,017 56,585
Charge for the year 10,663 3,159 13,822
At 29 February 2024 46,231 24,176 70,407
Net book value
At 29 February 2024 60,980 9,476 70,456
At 28 February 2023 70,640 12,635 83,275
5 Debtors 2024 2023
£ £
Trade debtors 30,084 35,434
Other debtors 3,008 6,149
33,092 41,583
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 6,564
Obligations under finance lease and hire purchase contracts 12,407 21,961
Trade creditors 925 5,447
Taxation and social security costs 24,826 14,515
Other creditors 201 58
44,359 48,545
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,500 12,936
Obligations under finance lease and hire purchase contracts 4,438 16,914
11,938 29,850
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
L Thompson
Directors loan account 58 (20,475) 20,618 201
58 (20,475) 20,618 201
9 Controlling party
The company is controlled by its director.
10 Other information
Thompson Tree Services (North East) Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 High Street
Stanley
CoDurham
DH9 0DQ
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