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REGISTERED NUMBER: 12439199 (England and Wales)















D G THOMAS AGRI LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






D G THOMAS AGRI LTD (REGISTERED NUMBER: 12439199)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D G THOMAS AGRI LTD

COMPANY INFORMATION
for the Year Ended 29 FEBRUARY 2024







DIRECTOR: W D Ellis





SECRETARY:





REGISTERED OFFICE: Old RAF Camp
Llanbedr
Gwynedd
LL45 2LS





REGISTERED NUMBER: 12439199 (England and Wales)





ACCOUNTANTS: E W Owen & Co
Glyndwr Buildings
Glyndwr Street
Dolgellau
Gwynedd
LL40 1BB

D G THOMAS AGRI LTD (REGISTERED NUMBER: 12439199)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 500 1,000
Tangible assets 5 53,766 64,279
54,266 65,279

CURRENT ASSETS
Stocks 403,812 535,753
Debtors 6 42,238 58,557
Cash at bank and in hand - 10,646
446,050 604,956
CREDITORS
Amounts falling due within one year 7 601,514 702,860
NET CURRENT LIABILITIES (155,464 ) (97,904 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(101,198

)

(32,625

)

CREDITORS
Amounts falling due after more than one
year

8

16,859

33,951
NET LIABILITIES (118,057 ) (66,576 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (118,058 ) (66,577 )
SHAREHOLDERS' FUNDS (118,057 ) (66,576 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

D G THOMAS AGRI LTD (REGISTERED NUMBER: 12439199)

BALANCE SHEET - continued
29 FEBRUARY 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 director and authorised for issue on 29 November 2024 and were signed by:





W D Ellis - Director


D G THOMAS AGRI LTD (REGISTERED NUMBER: 12439199)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024


1. STATUTORY INFORMATION

D G Thomas Agri 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.

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 2020, is being amortised evenly over its estimated useful life of five 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 each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% 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 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.

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.

D G THOMAS AGRI LTD (REGISTERED NUMBER: 12439199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

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 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023 1,000
Impairments (500 )
At 29 February 2024 500
NET BOOK VALUE
At 29 February 2024 500
At 28 February 2023 1,000

5. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2023 16,539 7,292 72,213 96,044
Additions 399 159 - 558
At 29 February 2024 16,938 7,451 72,213 96,602
DEPRECIATION
At 1 March 2023 3,919 1,501 26,345 31,765
Charge for year 1,302 595 9,174 11,071
At 29 February 2024 5,221 2,096 35,519 42,836
NET BOOK VALUE
At 29 February 2024 11,717 5,355 36,694 53,766
At 28 February 2023 12,620 5,791 45,868 64,279

D G THOMAS AGRI LTD (REGISTERED NUMBER: 12439199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 42,238 54,652
Other debtors - 3,905
42,238 58,557

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 81,518 30,069
Hire purchase contracts 98,934 179,985
Trade creditors 87,648 248,204
Taxation and social security 45,093 37,959
Other creditors 288,321 206,643
601,514 702,860

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 16,859 33,951