Silverfin false false 31/05/2024 01/06/2023 31/05/2024 A Thompson 17/05/2011 05 February 2025 The principal activity of the Company during the financial year was that of manufacturing of carbon fibre mouldings. 07637913 2024-05-31 07637913 bus:Director1 2024-05-31 07637913 2023-05-31 07637913 core:CurrentFinancialInstruments 2024-05-31 07637913 core:CurrentFinancialInstruments 2023-05-31 07637913 core:Non-currentFinancialInstruments 2024-05-31 07637913 core:Non-currentFinancialInstruments 2023-05-31 07637913 core:ShareCapital 2024-05-31 07637913 core:ShareCapital 2023-05-31 07637913 core:RetainedEarningsAccumulatedLosses 2024-05-31 07637913 core:RetainedEarningsAccumulatedLosses 2023-05-31 07637913 core:PlantMachinery 2023-05-31 07637913 core:Vehicles 2023-05-31 07637913 core:PlantMachinery 2024-05-31 07637913 core:Vehicles 2024-05-31 07637913 2023-06-01 2024-05-31 07637913 bus:FilletedAccounts 2023-06-01 2024-05-31 07637913 bus:SmallEntities 2023-06-01 2024-05-31 07637913 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07637913 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07637913 bus:Director1 2023-06-01 2024-05-31 07637913 core:PlantMachinery 2023-06-01 2024-05-31 07637913 core:Vehicles 2023-06-01 2024-05-31 07637913 2022-06-01 2023-05-31 07637913 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 07637913 (England and Wales)

THOMPSON COMPOSITE MOULDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

THOMPSON COMPOSITE MOULDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

THOMPSON COMPOSITE MOULDINGS LIMITED

BALANCE SHEET

As at 31 May 2024
THOMPSON COMPOSITE MOULDINGS LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,163 2,977
3,163 2,977
Current assets
Stocks 4 32,462 25,480
Debtors 5 70,008 86,857
Cash at bank and in hand 580 580
103,050 112,917
Creditors: amounts falling due within one year 6 ( 92,073) ( 96,834)
Net current assets 10,977 16,083
Total assets less current liabilities 14,140 19,060
Creditors: amounts falling due after more than one year 7 ( 13,335) ( 18,688)
Net assets 805 372
Capital and reserves
Called-up share capital 100 100
Profit and loss account 705 272
Total shareholders' funds 805 372

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Thompson Composite Mouldings Limited (registered number: 07637913) were approved and authorised for issue by the Director on 05 February 2025. They were signed on its behalf by:

A Thompson
Director
THOMPSON COMPOSITE MOULDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
THOMPSON COMPOSITE MOULDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Thompson Composite Mouldings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 5

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 June 2023 48,157 2,500 50,657
Additions 1,038 0 1,038
At 31 May 2024 49,195 2,500 51,695
Accumulated depreciation
At 01 June 2023 46,586 1,094 47,680
Charge for the financial year 501 351 852
At 31 May 2024 47,087 1,445 48,532
Net book value
At 31 May 2024 2,108 1,055 3,163
At 31 May 2023 1,571 1,406 2,977

4. Stocks

2024 2023
£ £
Stocks 32,462 25,480

5. Debtors

2024 2023
£ £
Trade debtors 31,077 5,954
Other debtors 38,931 80,903
70,008 86,857

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 21,511 25,025
Trade creditors 17,159 14,485
Taxation and social security 44,936 51,800
Other creditors 8,467 5,524
92,073 96,834

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,335 18,688

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Key management 15,217 40,755

Interest of 2.25% has been charged on the overdrawn loan account.