Registered number
07667211
Thomas Financial Solutions Ltd
Report and Accounts
30 June 2024
Thomas Financial Solutions Ltd
Registered number: 07667211
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,400 3,200
Current assets
Debtors 4 9,200 3,955
Cash at bank and in hand 6,122 7,382
15,322 11,337
Creditors: amounts falling due within one year 5 (17,509) (14,110)
Net current liabilities (2,187) (2,773)
Total assets less current liabilities 213 427
Creditors: amounts falling due after more than one year 6 - (225)
Provisions for liabilities (85) (85)
Net assets 128 117
Capital and reserves
Called up share capital 100 100
Profit and loss account 28 17
Shareholders' funds 128 117
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Thomas
Director
Approved by the board on 28 January 2025
Thomas Financial Solutions Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures, fittings and equipment 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 July 2023 5,892
At 30 June 2024 5,892
Depreciation
At 1 July 2023 2,692
Charge for the year 800
At 30 June 2024 3,492
Net book value
At 30 June 2024 2,400
At 30 June 2023 3,200
4 Debtors 2024 2023
£ £
Trade debtors - 7
Other debtors 9,200 3,948
9,200 3,955
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 225 900
Corporation tax 15,831 11,872
Other creditors 1,453 1,338
17,509 14,110
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 225
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D Thomas
Loan account - 3,948 (3,948) -
Loan - 2024 - 7,500 - 7,500
- 11,448 (3,948) 7,500
8 Other information
Thomas Financial Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5a Church Road South
Woolton Village
Liverpool
L25 7RJ
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