Caseware UK (AP4) 2023.0.135 2023.0.135 2025-05-22The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).falsetrue2024-03-01falseplumbing, heat and air-conditioning installation22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI013363 2024-03-01 2025-02-28 NI013363 2023-03-01 2024-02-29 NI013363 2025-02-28 NI013363 2024-02-29 NI013363 2023-03-01 NI013363 c:CompanySecretary1 2024-03-01 2025-02-28 NI013363 c:Director1 2024-03-01 2025-02-28 NI013363 c:RegisteredOffice 2024-03-01 2025-02-28 NI013363 c:Agent1 2024-03-01 2025-02-28 NI013363 d:Buildings 2024-03-01 2025-02-28 NI013363 d:Buildings 2025-02-28 NI013363 d:Buildings 2024-02-29 NI013363 d:Buildings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 NI013363 d:FurnitureFittings 2024-03-01 2025-02-28 NI013363 d:FurnitureFittings 2025-02-28 NI013363 d:FurnitureFittings 2024-02-29 NI013363 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 NI013363 d:ComputerEquipment 2024-03-01 2025-02-28 NI013363 d:ComputerEquipment 2025-02-28 NI013363 d:ComputerEquipment 2024-02-29 NI013363 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 NI013363 d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 NI013363 d:CurrentFinancialInstruments 2025-02-28 NI013363 d:CurrentFinancialInstruments 2024-02-29 NI013363 d:CurrentFinancialInstruments d:WithinOneYear 2025-02-28 NI013363 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 NI013363 d:ShareCapital 2024-03-01 2025-02-28 NI013363 d:ShareCapital 2025-02-28 NI013363 d:ShareCapital 2023-03-01 2024-02-29 NI013363 d:ShareCapital 2024-02-29 NI013363 d:ShareCapital 2023-03-01 NI013363 d:RetainedEarningsAccumulatedLosses 2024-03-01 2025-02-28 NI013363 d:RetainedEarningsAccumulatedLosses 2025-02-28 NI013363 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 NI013363 d:RetainedEarningsAccumulatedLosses 2024-02-29 NI013363 d:RetainedEarningsAccumulatedLosses 2023-03-01 NI013363 c:OrdinaryShareClass1 2024-03-01 2025-02-28 NI013363 c:OrdinaryShareClass1 2025-02-28 NI013363 c:OrdinaryShareClass1 2024-02-29 NI013363 c:FRS102 2024-03-01 2025-02-28 NI013363 c:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 NI013363 c:FullAccounts 2024-03-01 2025-02-28 NI013363 c:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 NI013363 e:PoundSterling 2024-03-01 2025-02-28 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
Brian Thompson Limited
For the Year Ended 28 February 2025





































Registered number: NI013363

 
Brian Thompson Limited
 

Company Information


Director
Mr I Thompson 




Company secretary
Mrs D J Thompson



Registered number
NI013363



Registered office
72 Central Avenue

Bangor

Down

BT20 3AU




Accountants
Grant Thornton Advisors (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
Danske Bank
77 Main Street

Bangor

Down

BT20 5AP





 
Brian Thompson Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 11


  
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Independent Accountant's Report to the director of the unaudited financial statements of Brian Thompson Limited for the Year Ended 28 February 2025

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Brian Thompson Limited for the year ended 28 February 2025, which comprise the Balance sheet, the Statement of changes in equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements. 
 
This report is made solely to the directors of Brian Thompson Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Brian Thompson Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brian Thompson Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410  (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board  (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered  Accountants Ireland relating to members undertaking the compilation of financial statements. 

You have approved the financial statements for the year ended 28 February 2025 and you have acknowledged on the Balance sheet as at 28 February 2025 your duty to ensure that Brian Thompson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Brian Thompson Limited is exempt from the statutory audit requirement for the year ended 28 February 2025.

We have not been instructed to carry out an audit or review the financial statements of Brian Thompson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton Advisors (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   22 May 2025
Page 1

 
Brian Thompson Limited
Registered number:NI013363

Balance sheet
As at 28 February 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
5,847
6,105

  
5,847
6,105

Current assets
  

Stocks
 6 
44,164
46,721

Debtors: amounts falling due within one year
 7 
51,486
63,523

  
95,650
110,244

Creditors: amounts falling due within one year
 9 
(81,781)
(97,387)

Net current assets
  
 
 
13,869
 
 
12,857

Total assets less current liabilities
  
19,716
18,962

  

Net assets
  
19,716
18,962


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Profit and loss account
 11 
18,716
17,962

  
19,716
18,962


Page 2

 
Brian Thompson Limited
Registered number:NI013363

Balance sheet (continued)
As at 28 February 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2025.



Mr I Thompson
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
Brian Thompson Limited
 

Statement of changes in equity
For the Year Ended 28 February 2025


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2024
1,000
17,962
18,962


Comprehensive income for the year

Profit for the year
-
21,130
21,130
Total comprehensive income for the year
-
21,130
21,130

Dividends: Equity capital
-
(20,376)
(20,376)


At 28 February 2025
1,000
18,716
19,716



Statement of changes in equity
For the Year Ended 29 February 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 March 2023
1,000
13,691
14,691


Comprehensive income for the year

Profit for the year
-
27,147
27,147
Total comprehensive income for the year
-
27,147
27,147

Dividends: Equity capital
-
(22,876)
(22,876)


At 29 February 2024
1,000
17,962
18,962


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 28 February 2025

1.


General information

Brian Thompson Limited is a private company limited by shares and incorporated in Northern Ireland. The registered office is 72 Central avenue, Bangor, Co Down, BT20 3AU.
The principal activity of the company is the supply and installation of plumbing, heating and air-conditioning equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

  
2.2

Going concern

The director has assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

Page 5

 
Brian Thompson Limited
 

Notes to the financial statements
For the Year Ended 28 February 2025

2.Accounting policies (continued)

 
2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 6

 
Brian Thompson Limited
 

Notes to the financial statements
For the Year Ended 28 February 2025

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line and reducing balance methods.

Depreciation is provided on the following basis:

Alterations to property
-
2% straight line
Fixtures & fittings
-
15% reducing balance
Computer equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
Brian Thompson Limited
 

Notes to the financial statements
For the Year Ended 28 February 2025

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgment or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a) Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.
b) Carrying value of stocks
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.

Page 8

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 28 February 2025

4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).


5.


Tangible fixed assets







Alterations to property
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2024
12,907
18,505
35,707
67,119



At 28 February 2025

12,907
18,505
35,707
67,119



Depreciation


At 1 March 2024
6,802
18,505
35,707
61,014


Charge for the year on owned assets
258
-
-
258



At 28 February 2025

7,060
18,505
35,707
61,272



Net book value



At 28 February 2025
5,847
-
-
5,847



At 29 February 2024
6,105
-
-
6,105


6.


Stocks

2025
2024
£
£

Finished goods and goods for resale
44,164
46,721

44,164
46,721


Page 9

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 28 February 2025

7.


Debtors

2025
2024
£
£


Trade debtors
51,034
63,108

Prepayments and accrued income
452
415

51,486
63,523



8.


Cash and cash equivalents

28 February
29 February
2025
2024
£
£

Less: bank overdrafts
(36,299)
(31,027)

(36,299)
(31,027)



9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank overdrafts
36,299
31,027

Trade creditors
26,673
51,811

Corporation tax
5,113
6,748

Other taxation and social security
11,146
5,601

Accruals and deferred income
2,550
2,200

81,781
97,387



10.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



1,000 (2024 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 10

 
Brian Thompson Limited
 
 
Notes to the financial statements
For the Year Ended 28 February 2025

11.


Reserves

Profit & loss account

Includes all current and prior period retained profits and losses.


12.


Controlling party

The company is controlled by the Director.


Page 11