Company registration number 00745108 (England and Wales)
EDWARD THOMPSON (PRINTERS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
EDWARD THOMPSON (PRINTERS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
EDWARD THOMPSON (PRINTERS) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,165,609
10,166,172
Current assets
Debtors
4
12,810
10,958
Cash at bank and in hand
2,669,608
1,145,333
2,682,418
1,156,291
Creditors: amounts falling due within one year
5
(10,291,112)
(10,303,311)
Net current liabilities
(7,608,694)
(9,147,020)
Net assets
1,556,915
1,019,152
Capital and reserves
Called up share capital
6
6,656
6,656
Revaluation reserve
7
5,801,745
6,651,745
Capital redemption reserve
3,744
3,744
Profit and loss reserves
8
(4,255,230)
(5,642,993)
Total equity
1,556,915
1,019,152
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mr P G Cronin
Director
Company registration number 00745108 (England and Wales)
EDWARD THOMPSON (PRINTERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Edward Thompson (Printers) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mains House, 143 Front Street, Chester-Le-Street, Co Durham, DH3 3AU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The truefinancial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements and believe that no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements.
1.3
Turnover
Turnover represents the invoiced value of sales made to third parties, net of Value Added Tax. Turnover from operating leases is recognised evenly over the term of the operating lease.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not provided
Motor vehicles
25% on reducing balance
Depreciation is not provided on freehold property as the estimated residual value of the property at the end of its useful life is deemed to be greater than the current carrying value of the property. Freehold property is held at a valuation and any surplus or deficit arising on valuation is transferred to the revaluation reserve
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
EDWARD THOMPSON (PRINTERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents
Cash and cash equivalents comprises cash in hand and current balances with banks and other institutions, which are readily convertible to known amounts of cash and which are subject to insignificant risk of change in value. This definition is also used for the cash flow statement.
1.7
Foreign exchange
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Balance sheet items in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. All foreign currency gains and losses are taken to the profit and loss account.
1.8
Short-term debtors and creditors
Debtors and creditors with no interest rate which are receivable or payable within one year are recorded at transaction price. Any loss arising from impairment are recognised immediately in profit and loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Tangible fixed assets
Freehold land and buildings
Motor vehicles
Total
£
£
£
Cost or valuation
At 1 May 2023
10,162,418
11,096
10,173,514
Disposals
(1,000,000)
(1,000,000)
At 30 April 2024
9,162,418
11,096
9,173,514
Depreciation and impairment
At 1 May 2023
7,342
7,342
Depreciation charged in the year
563
563
At 30 April 2024
7,905
7,905
Carrying amount
At 30 April 2024
9,162,418
3,191
9,165,609
At 30 April 2023
10,162,418
3,754
10,166,172
EDWARD THOMPSON (PRINTERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,577
6,527
Other debtors
9,233
4,431
12,810
10,958
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
969
8,892
Taxation and social security
384
Other creditors
10,289,759
10,294,419
10,291,112
10,303,311
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
6,656
6,656
6,656
6,656
7
Revaluation reserve
2024
2023
£
£
At the beginning of the year
6,651,745
6,651,745
Transfer to retained earnings
(850,000)
At the end of the year
5,801,745
6,651,745
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
(5,642,993)
(5,600,695)
Profit/(loss) for the year
537,763
(42,298)
Transfer from revaluation reserve
850,000
At the end of the year
(4,255,230)
(5,642,993)