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Registration number: 05117373

D J Thompson Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

D J Thompson Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

D J Thompson Limited

Company Information

Director

Mr David Thompson

Registered office

Unit 1 Bennett House
Norwich Street
DEREHAM
Norfolk
NR19 1BX

Accountants

Fox & Co ( Anglia) Limited
Chartered Accountants
Unit 1 Bennett House
Norwich Street
DEREHAM
Norfolk
NR19 1BX

 

D J Thompson Limited

(Registration number: 05117373)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,989

22,647

Current assets

 

Debtors

5

576

-

Cash at bank and in hand

 

13,873

16,151

 

14,449

16,151

Creditors: Amounts falling due within one year

6

(26,231)

(15,956)

Net current (liabilities)/assets

 

(11,782)

195

Total assets less current liabilities

 

5,207

22,842

Creditors: Amounts falling due after more than one year

6

(1,833)

(19,588)

Provisions for liabilities

(3,228)

(1,495)

Net assets

 

146

1,759

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

46

1,659

Shareholders' funds

 

146

1,759

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 November 2024
 

 

D J Thompson Limited

(Registration number: 05117373)
Balance Sheet as at 31 March 2024

.........................................
Mr David Thompson
Director

 

D J Thompson Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1 Bennett House
Norwich Street
DEREHAM
Norfolk
NR19 1BX
England

The principal place of business is:
West End Cottage
High Street
Shipdham
THETFORD
Norfolk
IP25 7PA
England

These financial statements were authorised for issue by the director on 21 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

D J Thompson Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25 % reducing balance

Plant and machinery

25 % reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

D J Thompson Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

D J Thompson Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

D J Thompson Limited

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

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

44,613

4,048

48,661

At 31 March 2024

44,613

4,048

48,661

Depreciation

At 1 April 2023

22,035

3,979

26,014

Charge for the year

5,644

14

5,658

At 31 March 2024

27,679

3,993

31,672

Carrying amount

At 31 March 2024

16,934

55

16,989

At 31 March 2023

22,578

69

22,647

5

Debtors

Current

2024
£

2023
£

Trade debtors

576

-

 

576

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

17,755

4,794

Trade creditors

 

114

2,114

Taxation and social security

 

3,079

4,654

Accruals and deferred income

 

2,726

2,484

Other creditors

 

2,557

1,910

 

26,231

15,956

Creditors: amounts falling due after more than one year

 

D J Thompson Limited

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

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,833

19,588

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

1,833

2,833

Hire purchase contracts

-

16,755

1,833

19,588

2024
£

2023
£

Current loans and borrowings

Bank borrowings

1,000

1,000

Hire purchase contracts

16,755

3,794

17,755

4,794

Bank borrowings

Coronavirus Bounce Back Loan is denominated in Sterling with a nominal interest rate of 2%%, and the final instalment is due on 15 January 2027. The carrying amount at year end is £2,833 (2023 - £3,833).

9

Dividends

Interim dividends paid

 

D J Thompson Limited

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

   

2024
£

 

2023
£

Interim dividend of £900.00 (2023 - £96.00) per each Ordinary

 

4,500

 

9,600

         

10

Related party transactions

 

D J Thompson Limited

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,750

12,000

In respect of the highest paid director:

2024
£

2023
£

Remuneration

12,750

12,000

Dividends paid to the director

   

2024
£

 

2023
£

Mr David Thompson

       

Ordinary interim dividends paid

 

4,500

 

9,600