C Thornton Limited 04709540 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of builders Digita Accounts Production Advanced 6.30.9574.0 true true 04709540 2023-10-01 2024-09-30 04709540 2024-09-30 04709540 bus:OrdinaryShareClass1 2024-09-30 04709540 core:RetainedEarningsAccumulatedLosses 2024-09-30 04709540 core:ShareCapital 2024-09-30 04709540 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 04709540 core:Goodwill 2024-09-30 04709540 core:FurnitureFittingsToolsEquipment 2024-09-30 04709540 core:MotorVehicles 2024-09-30 04709540 bus:SmallEntities 2023-10-01 2024-09-30 04709540 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04709540 bus:FilletedAccounts 2023-10-01 2024-09-30 04709540 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04709540 bus:RegisteredOffice 2023-10-01 2024-09-30 04709540 bus:Director1 2023-10-01 2024-09-30 04709540 bus:Director2 2023-10-01 2024-09-30 04709540 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 04709540 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04709540 bus:Agent1 2023-10-01 2024-09-30 04709540 core:Goodwill 2023-10-01 2024-09-30 04709540 core:FurnitureFittings 2023-10-01 2024-09-30 04709540 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 04709540 core:MotorVehicles 2023-10-01 2024-09-30 04709540 countries:EnglandWales 2023-10-01 2024-09-30 04709540 2023-09-30 04709540 core:Goodwill 2023-09-30 04709540 core:FurnitureFittingsToolsEquipment 2023-09-30 04709540 core:MotorVehicles 2023-09-30 04709540 2022-10-01 2023-09-30 04709540 2023-09-30 04709540 bus:OrdinaryShareClass1 2023-09-30 04709540 core:RetainedEarningsAccumulatedLosses 2023-09-30 04709540 core:ShareCapital 2023-09-30 04709540 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 04709540 core:FurnitureFittingsToolsEquipment 2023-09-30 04709540 core:MotorVehicles 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04709540

C Thornton Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

C Thornton Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

C Thornton Limited

Company Information

Directors

Mr C N Thornton

Mrs J A Taylor-Thornton

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
C Thornton Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of C Thornton Limited for the year ended 30 September 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of C Thornton Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of C Thornton Limited and state those matters that we have agreed to state to the Board of Directors of C Thornton Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C Thornton Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that C Thornton Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of C Thornton Limited. You consider that C Thornton Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of C Thornton Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

12 March 2025

 

C Thornton Limited

(Registration number: 04709540)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,948

3,935

Current assets

 

Stocks

6

8,000

19,300

Cash at bank and in hand

 

40,734

47,428

 

48,734

66,728

Creditors: Amounts falling due within one year

7

(34,114)

(47,232)

Net current assets

 

14,620

19,496

Total assets less current liabilities

 

17,568

23,431

Provisions for liabilities

(560)

(748)

Net assets

 

17,008

22,683

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

17,006

22,681

Shareholders' funds

 

17,008

22,683

 

C Thornton Limited

(Registration number: 04709540)
Balance Sheet as at 30 September 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2025 and signed on its behalf by:
 

.........................................
Mr C N Thornton
Director

 

C Thornton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

These financial statements were authorised for issue by the Board on 12 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

C Thornton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

C Thornton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

C Thornton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

10,000

10,000

At 30 September 2024

10,000

10,000

Amortisation

At 1 October 2023

10,000

10,000

At 30 September 2024

10,000

10,000

Carrying amount

At 30 September 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

4,923

11,299

16,222

At 30 September 2024

4,923

11,299

16,222

Depreciation

At 1 October 2023

3,668

8,619

12,287

Charge for the year

317

670

987

At 30 September 2024

3,985

9,289

13,274

Carrying amount

At 30 September 2024

938

2,010

2,948

At 30 September 2023

1,255

2,680

3,935

 

C Thornton Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Stocks

2024
£

2023
£

Work in progress

7,500

18,800

Other inventories

500

500

8,000

19,300

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

7,030

15,948

Taxation and social security

17,440

17,019

Accruals and deferred income

6,000

6,000

Other creditors

3,644

8,265

34,114

47,232

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2