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THOMPSON BROS GARAGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2025






THOMPSON BROS GARAGE LIMITED (REGISTERED NUMBER: 10070405)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

THOMPSON BROS GARAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2025







DIRECTORS: G N Thompson
Mrs C M Thompson





REGISTERED OFFICE: 19- 21 Duncombe Street
Kempston
Bedfordshire
MK42 8ED





REGISTERED NUMBER: 10070405 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

THOMPSON BROS GARAGE LIMITED (REGISTERED NUMBER: 10070405)

BALANCE SHEET
31ST MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 8,000
Tangible assets 5 19,610 8,159
23,610 16,159

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 6 60,189 28,348
Cash at bank 266,200 216,744
328,889 247,592
CREDITORS
Amounts falling due within one year 7 113,104 107,662
NET CURRENT ASSETS 215,785 139,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

239,395

156,089

CREDITORS
Amounts falling due after more than one
year

8

(946

)

(7,082

)

PROVISIONS FOR LIABILITIES (4,309 ) (1,365 )
NET ASSETS 234,140 147,642

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 234,040 147,542
SHAREHOLDERS' FUNDS 234,140 147,642

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

THOMPSON BROS GARAGE LIMITED (REGISTERED NUMBER: 10070405)

BALANCE SHEET - continued
31ST MARCH 2025


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st July 2025 and were signed on its behalf by:





G N Thompson - Director


THOMPSON BROS GARAGE LIMITED (REGISTERED NUMBER: 10070405)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2025

1. STATUTORY INFORMATION

Thompson Bros Garage 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to al periods presented unless otherwise stated.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.


THOMPSON BROS GARAGE LIMITED (REGISTERED NUMBER: 10070405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Going concern
In preparing the financial statements, the directors have considered the current financial position of the company and its likely future cash flows.

The directors have assessed the risks facing the business from Covid-19 and implemented measures to address these risks, including obtaining government backed financial assistance.

Although the situation continues to remain uncertain, in the directors' opinion, the ongoing challenges presented by Covid-19 will not adversely affect the ability of the company to continue trading for the foreseeable future.

At the date of approving these financial statements the directors are satisfied that the company will have adequate resources to continue operations for the foreseeable future.

Accordingly, they continues to adopt the going concern basis in the preparation of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2024
and 31st March 2025 40,000
AMORTISATION
At 1st April 2024 32,000
Amortisation for year 4,000
At 31st March 2025 36,000
NET BOOK VALUE
At 31st March 2025 4,000
At 31st March 2024 8,000

THOMPSON BROS GARAGE LIMITED (REGISTERED NUMBER: 10070405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st April 2024 21,845 2,319 9,800 1,374 35,338
Additions - 1,620 14,349 - 15,969
Disposals (1,000 ) - - - (1,000 )
At 31st March 2025 20,845 3,939 24,149 1,374 50,307
DEPRECIATION
At 1st April 2024 18,405 1,962 5,785 1,027 27,179
Charge for year 523 292 3,395 208 4,418
Eliminated on disposal (900 ) - - - (900 )
At 31st March 2025 18,028 2,254 9,180 1,235 30,697
NET BOOK VALUE
At 31st March 2025 2,817 1,685 14,969 139 19,610
At 31st March 2024 3,440 357 4,015 347 8,159

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 3,732 2,665
Amounts owed by group undertakings 50,000 20,000
Prepayments 6,457 5,683
60,189 28,348

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 6,173 6,345
Trade creditors 56,813 54,483
Corporation tax 30,678 36,098
Social security and other taxes 3,243 2,719
VAT 11,005 6,162
Other creditors 476 197
Directors' current accounts 2,807 258
Accrued expenses 1,909 1,400
113,104 107,662

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 946 7,082

THOMPSON BROS GARAGE LIMITED (REGISTERED NUMBER: 10070405)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2025

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 7,119 13,427

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary shares £1 100 100

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THOMPSON BROS GARAGE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thompson Bros Garage Limited for the year ended 31st March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Thompson Bros Garage Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thompson Bros Garage Limited and state those matters that we have agreed to state to the Board of Directors of Thompson Bros Garage Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thompson Bros Garage Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Thompson Bros Garage Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thompson Bros Garage Limited. You consider that Thompson Bros Garage Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thompson Bros Garage 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.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


1st July 2025