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REGISTERED NUMBER: 07608861 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Mark Thompson Farriers Limited

Mark Thompson Farriers Limited (Registered number: 07608861)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mark Thompson Farriers Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: M Thompson





REGISTERED OFFICE: 1 Messenger Close
Bungay
Suffolk
NR35 1PW





REGISTERED NUMBER: 07608861 (England and Wales)





ACCOUNTANTS: Mark Carter Accountancy Services Ltd
65 Kennedy Avenue
Halesworth
Suffolk
IP19 8EQ

Mark Thompson Farriers Limited (Registered number: 07608861)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,000 8,000
Tangible assets 5 27,152 11,258
34,152 19,258

CURRENT ASSETS
Stocks 3,500 3,500
Debtors 6 3,908 2,920
Cash at bank 66,042 81,131
73,450 87,551
CREDITORS
Amounts falling due within one year 7 36,057 40,089
NET CURRENT ASSETS 37,393 47,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,545

66,720

PROVISIONS FOR LIABILITIES 5,159 2,139
NET ASSETS 66,386 64,581

Mark Thompson Farriers Limited (Registered number: 07608861)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 66,286 64,481
SHAREHOLDERS' FUNDS 66,386 64,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2025 and were signed by:





M Thompson - Director


Mark Thompson Farriers Limited (Registered number: 07608861)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Mark Thompson Farriers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principle accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Mark Thompson Farriers Limited (Registered number: 07608861)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 20,000
AMORTISATION
At 1 June 2023 12,000
Charge for year 1,000
At 31 May 2024 13,000
NET BOOK VALUE
At 31 May 2024 7,000
At 31 May 2023 8,000

Mark Thompson Farriers Limited (Registered number: 07608861)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 June 2023 6,516 20,272 26,788
Additions 135 31,759 31,894
Disposals - (20,272 ) (20,272 )
At 31 May 2024 6,651 31,759 38,410
DEPRECIATION
At 1 June 2023 4,286 11,244 15,530
Charge for year 355 6,617 6,972
Eliminated on disposal - (11,244 ) (11,244 )
At 31 May 2024 4,641 6,617 11,258
NET BOOK VALUE
At 31 May 2024 2,010 25,142 27,152
At 31 May 2023 2,230 9,028 11,258

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 950 2,102
Other debtors 2,958 818
3,908 2,920

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 1,547 1,199
Taxation and social security 2,220 10,254
Other creditors 32,290 28,636
36,057 40,089