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REGISTERED NUMBER: 08402397 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Thorley Smith Limited

Thorley Smith Limited (Registered number: 08402397)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thorley Smith Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: D K Tonks
D B Tonks





SECRETARY: E M Winstanley





REGISTERED OFFICE: Britannia Mill
Clayton Street
Wigan
Lancashire
WN3 4DG





REGISTERED NUMBER: 08402397 (England and Wales)





ACCOUNTANTS: M J Miller & Co. Ltd
Chartered Certified Accountants
56 Gidlow Lane
Gidlow
Wigan
Lancashire
WN6 7DP

Thorley Smith Limited (Registered number: 08402397)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £ £ £
FIXED ASSETS
Tangible assets 4 50,340 61,694
Investments 5 48,287 55,134
98,627 116,828

CURRENT ASSETS
Stocks 354,411 326,843
Debtors 6 317,974 317,305
Cash in hand 470,774 508,209
1,143,159 1,152,357
CREDITORS
Amounts falling due within one year 7 358,066 331,442
NET CURRENT ASSETS 785,093 820,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

883,720

937,743

CREDITORS
Amounts falling due after more than
one year

8

-

131,406
NET ASSETS 883,720 806,337

Thorley Smith Limited (Registered number: 08402397)

Balance Sheet - continued
31 March 2025

31.3.25 31.3.24
Notes £ £ £
CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Share premium 204,070 204,070
Revaluation reserve 9 (90,181 ) (82,215 )
Retained earnings 768,331 682,982
SHAREHOLDERS' FUNDS 883,720 806,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





D K Tonks - Director


Thorley Smith Limited (Registered number: 08402397)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Thorley Smith 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Fixtures, fittings & equipment :
25% straight line

Motor vehicles :
20% reducing balance

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.

Taxation
Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Thorley Smith Limited (Registered number: 08402397)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£ £ £ £
COST
At 1 April 2024
and 31 March 2025 15,001 42,826 36,230 94,057
DEPRECIATION
At 1 April 2024 - 27,706 4,657 32,363
Charge for year - 5,039 6,315 11,354
At 31 March 2025 - 32,745 10,972 43,717
NET BOOK VALUE
At 31 March 2025 15,001 10,081 25,258 50,340
At 31 March 2024 15,001 15,120 31,573 61,694

Thorley Smith Limited (Registered number: 08402397)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST OR VALUATION
At 1 April 2024 55,134
Additions 1,119
Revaluations (7,966 )
At 31 March 2025 48,287
NET BOOK VALUE
At 31 March 2025 48,287
At 31 March 2024 55,134

Cost or valuation at 31 March 2025 is represented by:

Other
investments
£
Valuation in 2025 48,287

6. DEBTORS
31.3.25 31.3.24
£ £
Amounts falling due within one year:
Trade debtors 214,207 215,442
Other debtors 87,290 89,228
301,497 304,670

Amounts falling due after more than one year:
Other debtors 16,477 12,635

Aggregate amounts 317,974 317,305

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£ £
Bank loans and overdrafts - 15,612
Trade creditors 236,985 204,923
Taxation and social security 44,201 45,841
Other creditors 76,880 65,066
358,066 331,442

Thorley Smith Limited (Registered number: 08402397)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.25 31.3.24
£ £
Loans and borrowings - 131,406

9. RESERVES
Revaluation
reserve
£
At 1 April 2024 (82,215 )
Revaluation movement (7,966 )

At 31 March 2025 (90,181 )

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25 31.3.24
£ £
D K Tonks and D B Tonks
Balance outstanding at start of year 49,715 42,713
Amounts advanced - 7,002
Amounts repaid (15 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,700 49,715

11. RELATED PARTY DISCLOSURES

During the year, no dividends were paid to the directors (2024 - nil)

12. ULTIMATE CONTROLLING PARTY

The controlling party is D K Tonks.

The ultimate controlling party is D K Tonks.