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REGISTERED NUMBER: OC327185 (England and Wales)















Unaudited Financial Statements

for the Period 1 November 2023 to 31 March 2024

for

Thomson Stott LLP
T/A
NT3

Thomson Stott LLP (Registered number: OC327185)
T/A NT3






Contents of the Financial Statements
for the Period 1 November 2023 to 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thomson Stott LLP
T/A NT3

General Information
for the Period 1 November 2023 to 31 March 2024







DESIGNATED MEMBERS: P R S Thomson
Mrs A J Thomson





REGISTERED OFFICE: Ground Floor
9 Waterside Business Park
Livingstone Road
Hessle
East Yorkshire
HU13 0EG





REGISTERED NUMBER: OC327185 (England and Wales)

Thomson Stott LLP (Registered number: OC327185)
T/A NT3

Balance Sheet
31 March 2024

31.3.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,771 19,896

CURRENT ASSETS
Stocks 18,846 24,215
Debtors 5 60,031 53,436
Cash at bank 10,003 14,415
88,880 92,066
CREDITORS
Amounts falling due within one year 6 17,101 24,109
NET CURRENT ASSETS 71,779 67,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,550

87,853

CREDITORS
Amounts falling due after more than one
year

7

19,679

20,786
NET ASSETS ATTRIBUTABLE TO
MEMBERS

69,871

67,067

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

69,871

67,067

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 69,871 67,067

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Thomson Stott LLP (Registered number: OC327185)
T/A NT3

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 22 November 2024 and were signed by:





P R S Thomson - Designated member

Thomson Stott LLP (Registered number: OC327185)
T/A NT3

Notes to the Financial Statements
for the Period 1 November 2023 to 31 March 2024

1. STATUTORY INFORMATION

Thomson Stott LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Revenue Recognition
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company receives a right to consideration from its performance.

Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on their fair value of the right to consideration at the balance sheet date. The value is included in debtors as Amounts Recoverable on Contracts.

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 - 25% on cost, 25% on reducing balance and 15% on reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is calculated at an average cost basis.

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.

Thomson Stott LLP (Registered number: OC327185)
T/A NT3

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Member's participation rights
Member's participation rights are the rights of a member against the LLP that arise under the member's agreement (for example, in respect of amounts subscribed or otherwise contributed,remuneration and profits).

Member's participation rights in the earnings or assets of the LLP are analysed between those that are, from LLP's perspective, either a financial liability or equity. in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Member's shares in co-operative entities and similar instruments. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example member's capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities.They are therefore treated as an expense in the Profit and Loss Account in the relevant year.To the extent that they remain unpaid at the period end, they are shown as liabilities the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or its representatives, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than an expense.They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above,according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within "Loans and other debts due to members' and are charged to the Profit and Loss Account within "Members' remuneration charged as an expense". Amounts due to members that are classified as equity are shown in the Balance Sheet within "Members' other interests".

3. EMPLOYEE INFORMATION

The average number of employees during the period was 2 (2023 - 2 ) .

Thomson Stott LLP (Registered number: OC327185)
T/A NT3

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 March 2024 34,167
DEPRECIATION
At 1 November 2023 14,271
Charge for period 2,125
At 31 March 2024 16,396
NET BOOK VALUE
At 31 March 2024 17,771
At 31 October 2023 19,896

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.10.23
£    £   
Trade debtors 20,495 19,753
Other debtors 39,536 33,683
60,031 53,436

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.10.23
£    £   
Bank loans and overdrafts 5,242 4,560
Trade creditors 2,419 206
Taxation and social security 7,563 15,605
Other creditors 1,877 3,738
17,101 24,109

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.10.23
£    £   
Bank loans 19,679 20,786

Thomson Stott LLP (Registered number: OC327185)
T/A NT3

Notes to the Financial Statements - continued
for the Period 1 November 2023 to 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.10.23
£    £   
Within one year 11,386 13,180
Between one and five years 13,284 17,079
24,670 30,259

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.