REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
FOR |
JULIAN THWAITES & COMPANY LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
FOR |
JULIAN THWAITES & COMPANY LIMITED |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JULIAN THWAITES & COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
39 The Metro Centre |
Tolpits Lane |
Watford |
Hertfordshire |
WD18 9SB |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
BALANCE SHEET - continued |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
Julian Thwaites & Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net amounts received for the sale and hire of musical instruments, excluding value added tax. |
Goodwill |
Tangible fixed assets |
Assets held for hire | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Freehold property's fair value will be assessed at the end of each accounting period and adjusted accordingly. |
Deferred tax is provided on any revaluations at the rate expected to apply when the property is sold. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st July 2023 |
and 30th June 2024 |
AMORTISATION |
At 1st July 2023 |
and 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
5. | TANGIBLE FIXED ASSETS |
Assets | Fixtures |
Freehold | held for | and |
property | hire | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1st July 2023 |
Additions |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st July 2023 |
Additions |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
Cost or valuation at 30th June 2024 is represented by: |
Assets | Fixtures |
Freehold | held for | and |
property | hire | fittings |
£ | £ | £ |
Valuation in 2015 | 216,848 | - | - |
Cost | 523,152 | 7,351 | 16,564 |
740,000 | 7,351 | 16,564 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2015 | - | - | 216,848 |
Cost | 100,835 | 8,132 | 656,034 |
100,835 | 8,132 | 872,882 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 523,152 | 523,152 |
Freehold property was valued on a fair value basis on 30th June 2022 by the company directors . |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Motor |
vehicles |
£ |
COST OR VALUATION |
At 1st July 2023 |
and 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Directors' current accounts | 14,125 | 4,525 |
Corporation tax |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
PAYE/NI payable |
VAT | 37,322 | 17,190 |
Other creditors |
Credit card balances | 23,218 | 8,396 |
Directors' current accounts | 4,499 | 3,318 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans more than a year |
JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30th June 2024 and 30th June 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year | ( |
) |
Amounts advanced | ( |
) | ( |
) |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The balances above have no fixed date for repayment, are repayable upon demand and are non-interest bearing. |
10. | RELATED PARTY DISCLOSURES |
The directors' current account balances included within creditors of £4,499 (2023 - £3,318) have no fixed date for repayment, are repayable upon demand and are non-interest bearing. |