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COMPANY REGISTRATION NUMBER: 09591040
THOM DRAUGHTING SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
THOM DRAUGHTING SERVICES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31st MAY 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
THOM DRAUGHTING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2024
2024
2023
Note
£
£
£
£
CURRENT ASSETS
Work in progress
6
1,665
Debtors
7
8,435
12,948
Cash at bank and in hand
17,006
8,378
---------
---------
25,441
22,991
CREDITORS: amounts falling due within one year
8
24,825
22,777
---------
---------
NET CURRENT ASSETS
616
214
----
----
TOTAL ASSETS LESS CURRENT LIABILITIES
616
214
----
----
NET ASSETS
616
214
----
----
CAPITAL AND RESERVES
Called up share capital
9
100
100
Profit and loss account
516
114
----
----
SHAREHOLDERS FUNDS
616
214
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st 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:
- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
THOM DRAUGHTING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 25 February 2025 , and are signed on behalf of the board by:
T. Thompson
Director
Company registration number: 09591040
THOM DRAUGHTING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st MAY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Elizabeth Crescent, Dudley, Cramlington, Northumberland, NE23 7AJ, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The director considers that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's director, bankers and other lending agents during this time.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Tools and equipment
-
25% straight line
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Tools and equipment
£
Cost
At 1st June 2023 and 31st May 2024
2,419
-------
Depreciation
At 1st June 2023 and 31st May 2024
2,419
-------
Carrying amount
At 31st May 2024
-------
At 31st May 2023
-------
6. WORK IN PROGRESS
2024
2023
£
£
Work in progress
1,665
----
-------
7. DEBTORS
2024
2023
£
£
Director's loan account
6,376
9,750
S455 tax recoverable
2,059
3,198
-------
---------
8,435
12,948
-------
---------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Accruals
1,125
954
Corporation tax
20,179
20,922
Social security and other taxes
2,466
Company credit card
1,055
901
---------
---------
24,825
22,777
---------
---------
9. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
T. Thompson
9,750
58,960
( 62,334)
6,376
-------
---------
---------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
T. Thompson
7,422
57,632
( 55,304)
9,750
-------
---------
---------
-------
11. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.