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THORNTON GROUP LIMITED

Registered Number
09663685
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

THORNTON GROUP LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

THORNTON, Ben
THORNTON, Leo

Registered Address

Robert Denholme House Bletchingley Road
Nutfield
Redhill
RH1 4HW

Registered Number

09663685 (England and Wales)
THORNTON GROUP LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,8836,510
4,8836,510
Current assets
Debtors6,8257,150
Cash at bank and on hand16,36019,478
23,18526,628
Creditors amounts falling due within one year4(22,025)(19,091)
Net current assets (liabilities)1,1607,537
Total assets less current liabilities6,04314,047
Creditors amounts falling due after one year5(3,406)(7,321)
Provisions for liabilities6(1,221)(1,628)
Net assets1,4165,098
Capital and reserves
Called up share capital100100
Profit and loss account1,3164,998
Shareholders' funds1,4165,098
The financial statements were approved and authorised for issue by the Board of Directors on 4 January 2025, and are signed on its behalf by:
THORNTON, Ben
Director
THORNTON, Leo
Director

Registered Company No. 09663685
THORNTON GROUP LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 July 2310,2956,28016,575
At 30 June 2410,2956,28016,575
Depreciation and impairment
At 01 July 235,8384,22710,065
Charge for year1,1145131,627
At 30 June 246,9524,74011,692
Net book value
At 30 June 243,3431,5404,883
At 30 June 234,4572,0536,510
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2439
Bank borrowings and overdrafts4,2464,346
Taxation and social security17,75514,636
Other creditors-70
Total22,02519,091
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,4067,321
Total3,4067,321
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,2211,628
Total1,2211,628
7.Related party transactions
The company has taken advantage of the exemption under FRS 102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.