REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
E.E. THOMPSON & SON LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
E.E. THOMPSON & SON LIMITED |
E.E. THOMPSON & SON LIMITED (REGISTERED NUMBER: 01051028) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
E.E. THOMPSON & SON LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
SECRETARY: | S A Thompson |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Chandler House |
7 Ferry Road Office Park |
Riversway |
Preston |
Lancashire |
PR2 2YH |
E.E. THOMPSON & SON LIMITED (REGISTERED NUMBER: 01051028) |
BALANCE SHEET |
30 APRIL 2024 |
30/4/24 | 30/4/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
E.E. THOMPSON & SON LIMITED (REGISTERED NUMBER: 01051028) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
E.E. Thompson & Son Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
Fixtures and fittings | - at variable rates on reducing balance |
Motor vehicles | - 25% on reducing balance |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
E.E. THOMPSON & SON LIMITED (REGISTERED NUMBER: 01051028) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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. |
Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
Long term contracts |
Profit on long term contracts is taken as the work is carried out, if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out by the year end by recording turnover and related costs as contract activity progresses. Turnover represents the value of work done for customers based on amounts certified during the year. Revenue derived from variations on contracts are only recognised when they have been accepted by the customers. Full provision is made for losses on all contracts in the year in which they are first foreseen. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
E.E. THOMPSON & SON LIMITED (REGISTERED NUMBER: 01051028) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
Transfer to ownership | - | (72,821 | ) | (72,821 | ) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Transfer to ownership | - | (30,911 | ) | (30,911 | ) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contract |
Other debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 5,626 | 14,525 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/4/24 | 30/4/23 |
£ | £ |
Hire purchase contracts (see note 8) |
E.E. THOMPSON & SON LIMITED (REGISTERED NUMBER: 01051028) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
30/4/24 | 30/4/23 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
Stuart Alan Thompson, a director of the company, is also a director of E.E. Thompson (Properties) Limited, a company registered in England and Wales. At 30 April 2024, included within debtors, was a balance due to the company from E.E. Thompson (Properties) Limited of £260,068 (2023: £299,543). No interest was charged on this loan. |
During the period ended 30 April 2024 the company paid rent to E.E. Thompson (Properties) Limited totalling £50,000 (2023: £50,000). |
At 30 April 2024, included within debtors, was a balance due to the company from E.E. Thompson (Holdings) Limited of £351,118 (2023: £341,657). No interest was charged on this loan. |