Silverfin false false 30/06/2024 01/07/2023 30/06/2024 T J Gleeson 24/08/2020 T L Gleeson 21/10/1991 06 March 2025 The principal activity of the company in the year under review was that of processing and converting of plastics and textiles for footwear, clothing and furnishing industries. 01571084 2024-06-30 01571084 bus:Director1 2024-06-30 01571084 bus:Director2 2024-06-30 01571084 2023-06-30 01571084 core:CurrentFinancialInstruments 2024-06-30 01571084 core:CurrentFinancialInstruments 2023-06-30 01571084 core:ShareCapital 2024-06-30 01571084 core:ShareCapital 2023-06-30 01571084 core:RetainedEarningsAccumulatedLosses 2024-06-30 01571084 core:RetainedEarningsAccumulatedLosses 2023-06-30 01571084 core:PlantMachinery 2023-06-30 01571084 core:FurnitureFittings 2023-06-30 01571084 core:PlantMachinery 2024-06-30 01571084 core:FurnitureFittings 2024-06-30 01571084 core:CostValuation 2023-06-30 01571084 core:AdditionsToInvestments 2024-06-30 01571084 core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 01571084 core:CostValuation 2024-06-30 01571084 bus:OrdinaryShareClass1 2024-06-30 01571084 2023-07-01 2024-06-30 01571084 bus:FilletedAccounts 2023-07-01 2024-06-30 01571084 bus:SmallEntities 2023-07-01 2024-06-30 01571084 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01571084 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01571084 bus:Director1 2023-07-01 2024-06-30 01571084 bus:Director2 2023-07-01 2024-06-30 01571084 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 01571084 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 01571084 2022-07-01 2023-06-30 01571084 core:PlantMachinery 2023-07-01 2024-06-30 01571084 core:FurnitureFittings 2023-07-01 2024-06-30 01571084 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 01571084 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01571084 (England and Wales)

T. G. LEWIS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

T. G. LEWIS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

T. G. LEWIS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
T. G. LEWIS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS T J Gleeson
T L Gleeson
REGISTERED OFFICE 11 Scott Close
Ravensthorpe
Northants
NN6 8EA
United Kingdom
COMPANY NUMBER 01571084 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ
BANKERS LLoyds Bank
2 George Row
Northampton
Northamptonshire
NN1 1FJ
T. G. LEWIS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
T. G. LEWIS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 873 1,057
Investments 5 32,575 19,617
33,448 20,674
Current assets
Stocks 6 6,124 7,987
Debtors 7 6,758 9,107
Cash at bank and in hand 100,628 98,860
113,510 115,954
Creditors: amounts falling due within one year 8 ( 5,214) ( 3,438)
Net current assets 108,296 112,516
Total assets less current liabilities 141,744 133,190
Net assets 141,744 133,190
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 141,644 133,090
Total shareholders' funds 141,744 133,190

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of T. G. Lewis Limited (registered number: 01571084) were approved and authorised for issue by the Board of Directors on 06 March 2025. They were signed on its behalf by:

T J Gleeson
Director
T L Gleeson
Director
T. G. LEWIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
T. G. LEWIS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

T. G. Lewis 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 11 Scott Close, Ravensthorpe, Northants, NN6 8EA, 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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 years straight line
Fixtures and fittings 15 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Pension costs and other post-retirement benefits

The company pays contributions into the personal pension plan of one of the directors. The pension charge represents contributions payable by the company for the year. The company's liability is limited to the amount of the contribution.

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 July 2023 46,139 17,100 63,239
At 30 June 2024 46,139 17,100 63,239
Accumulated depreciation
At 01 July 2023 46,139 16,043 62,182
Charge for the financial year 0 184 184
At 30 June 2024 46,139 16,227 62,366
Net book value
At 30 June 2024 0 873 873
At 30 June 2023 0 1,057 1,057

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 19,617 19,617
Additions 9,700 9,700
Movement in fair value 3,258 3,258
At 30 June 2024 32,575 32,575
Carrying value at 30 June 2024 32,575 32,575
Carrying value at 30 June 2023 19,617 19,617

The historical cost of the investments is £29,300

6. Stocks

2024 2023
£ £
Stocks 6,124 7,987

7. Debtors

2024 2023
£ £
Trade debtors 6,401 8,774
Amounts owed by directors 195 195
Prepayments 162 138
6,758 9,107

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 569 60
Accruals 2,494 2,550
Other taxation and social security 2,151 828
5,214 3,438

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100