Registered number
09082411
Thornham Deli Limited
Unaudited Filleted Accounts
31 January 2025
Thornham Deli Limited
Registered number: 09082411
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 - 13,523
Tangible assets 4 102,436 125,853
102,436 139,376
Current assets
Stocks 140,282 129,587
Debtors 5 270,250 248,285
Cash at bank and in hand 99,336 23,798
509,868 401,670
Creditors: amounts falling due within one year 6 (953,888) (943,412)
Net current liabilities (444,020) (541,742)
Total assets less current liabilities (341,584) (402,366)
Creditors: amounts falling due after more than one year 7 (9,960) (42,328)
Net liabilities (351,544) (444,694)
Capital and reserves
Called up share capital 120 120
Profit and loss account (351,664) (444,814)
Shareholders' funds (351,544) (444,694)
The directors are 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 directors acknowledge their 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.
Mrs S J Thompson
Director
Approved by the board on 26 March 2025
Thornham Deli Limited
Notes to the Accounts
for the year ended 31 January 2025
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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 32 38
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2024 324,555
At 31 January 2025 324,555
Amortisation
At 1 February 2024 311,032
Provided during the year 13,523
At 31 January 2025 324,555
Net book value
At 31 January 2025 -
At 31 January 2024 13,523
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 113,223 278,898 27,995 420,116
Additions - 1,704 - 1,704
At 31 January 2025 113,223 280,602 27,995 421,820
Depreciation
At 1 February 2024 63,505 213,125 17,633 294,263
Charge for the year 5,661 16,869 2,591 25,121
At 31 January 2025 69,166 229,994 20,224 319,384
Net book value
At 31 January 2025 44,057 50,608 7,771 102,436
At 31 January 2024 49,718 65,773 10,362 125,853
5 Debtors 2025 2024
£ £
Trade debtors 233,836 242,830
Other debtors 36,414 5,455
270,250 248,285
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 29,879 27,390
Trade creditors 56,851 53,653
Taxation and social security costs 121,029 119,425
Other creditors 746,129 742,944
953,888 943,412
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 9,960 42,328
8 Other information
Thornham Deli Limited is a private company limited by shares and incorporated in England. Its registered office is:
Thornham Deli
High Street
Thornham
Hunstanton
PE36 6LX
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