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REGISTERED NUMBER: 04239017 (England and Wales)















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: Mrs C A Lovell
Mr W J Pamplin
Mr J H Pamplin
Mrs B T Pamplin





SECRETARY: Mrs C A Lovell





REGISTERED OFFICE: 39 The Metro Centre
Tolpits Lane
Watford
Hertfordshire
WD18 9SB





REGISTERED NUMBER: 04239017 (England and Wales)





ACCOUNTANTS: Meades Group Limited
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 5 764,320 771,087
764,320 771,087

CURRENT ASSETS
Stocks 817,801 676,542
Debtors 6 73,197 84,744
Cash at bank and in hand 69,154 108,009
960,152 869,295
CREDITORS
Amounts falling due within one
year

7

169,558

140,362
NET CURRENT ASSETS 790,594 728,933
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,554,914

1,500,020

CREDITORS
Amounts falling due after more
than one year

8

(98,536

)

(26,667

)

PROVISIONS FOR LIABILITIES (39,214 ) (40,826 )
NET ASSETS 1,417,164 1,432,527

JULIAN THWAITES & COMPANY LIMITED (REGISTERED NUMBER: 04239017)

BALANCE SHEET - continued
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 202 202
Non-distributable reserves 175,649 175,649
Retained earnings 1,241,313 1,256,676
SHAREHOLDERS' FUNDS 1,417,164 1,432,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th March 2025 and were signed on its behalf by:




Mr J H Pamplin - Director Mr W J Pamplin - Director




Mrs C A Lovell - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net amounts received for the sale and hire of musical instruments, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Assets held for hire - 25% on reducing balance and Straight line over 5 years
Fixtures and fittings - 20% on cost and Straight line over 3 years
Motor vehicles - 20% on cost and Straight line over 3 years
Computer equipment - 25% on cost and Straight line over 3 years

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 15 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 162,460
AMORTISATION
At 1st July 2023
and 30th June 2024 162,460
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 740,000 7,351 13,565
Additions - - 2,999
At 30th June 2024 740,000 7,351 16,564
DEPRECIATION
At 1st July 2023 - 6,220 13,498
Charge for year - 283 66
At 30th June 2024 - 6,503 13,564
NET BOOK VALUE
At 30th June 2024 740,000 848 3,000
At 30th June 2023 740,000 1,131 67

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 100,835 8,132 869,883
Additions - - 2,999
At 30th June 2024 100,835 8,132 872,882
DEPRECIATION
At 1st July 2023 73,352 5,726 98,796
Charge for year 8,415 1,002 9,766
At 30th June 2024 81,767 6,728 108,562
NET BOOK VALUE
At 30th June 2024 19,068 1,404 764,320
At 30th June 2023 27,483 2,406 771,087

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 26,500
DEPRECIATION
At 1st July 2023 22,885
Charge for year 3,615
At 30th June 2024 26,500
NET BOOK VALUE
At 30th June 2024 -
At 30th June 2023 3,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors 52,293 71,994
Directors' current accounts 14,125 4,525
Corporation tax 4,331 5,329
Prepayments 2,448 2,896
73,197 84,744

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,794 10,000
Trade creditors 33,131 51,237
Corporation tax 38,839 41,364
PAYE/NI payable 5,577 5,403
VAT 37,322 17,190
Other creditors 1,178 3,454
Credit card balances 23,218 8,396
Directors' current accounts 4,499 3,318
169,558 140,362

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans more than a year 98,536 26,667

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
£    £   
Mr W J Pamplin
Balance outstanding at start of year - (11 )
Amounts advanced - 11
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr J H Pamplin
Balance outstanding at start of year (4,525 ) 5,075
Amounts advanced (9,600 ) (9,600 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,125 ) (4,525 )

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.