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REGISTERED NUMBER: SC270835 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Thomson Gray Limited

Thomson Gray Limited (Registered number: SC270835)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Thomson Gray Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J S Gibson
G Gowans
S G Gray
R T Lovatt
J M McKaig
A I Macgregor
W J Bathgate
A K Brown
L P Casserly





SECRETARY: J S Gibson





REGISTERED OFFICE: Prospect House
5 Thistle Street
Edinburgh
EH2 1DF





REGISTERED NUMBER: SC270835 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Thomson Gray Limited (Registered number: SC270835)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 213,759 198,935

CURRENT ASSETS
Inventories 600,000 532,889
Debtors 5 1,146,247 1,417,072
Cash at bank and in hand 125,848 17,171
1,872,095 1,967,132
CREDITORS
Amounts falling due within one year 6 1,181,512 1,157,324
NET CURRENT ASSETS 690,583 809,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

904,342

1,008,743

CREDITORS
Amounts falling due after more than one
year

7

(23,200

)

(46,824

)

PROVISIONS FOR LIABILITIES (19,000 ) (24,500 )
NET ASSETS 862,142 937,419

CAPITAL AND RESERVES
Called up share capital 83 83
Share premium 98,226 98,226
Retained earnings 763,833 839,110
862,142 937,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

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

Thomson Gray Limited (Registered number: SC270835)

Statement of Financial Position - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2025 and were signed on its behalf by:





S G Gray - Director


Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Thomson Gray Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Revenue 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 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.
Tenant's improvements - Straight line over 10 years
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on cost and 25% on cost
Computer equipment - Straight line over 5 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 78 (2023 - 79 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 67,879 335,426 403,305
Additions 72,859 6,790 79,649
At 31 December 2024 140,738 342,216 482,954
DEPRECIATION
At 1 January 2024 46,573 157,797 204,370
Charge for year 11,578 53,247 64,825
At 31 December 2024 58,151 211,044 269,195
NET BOOK VALUE
At 31 December 2024 82,587 131,172 213,759
At 31 December 2023 21,306 177,629 198,935

Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 82,846
DEPRECIATION
At 1 January 2024 3,541
Charge for year 24,726
At 31 December 2024 28,267
NET BOOK VALUE
At 31 December 2024 54,579
At 31 December 2023 79,305

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 1,051,702 1,317,818
Other debtors 94,545 99,254
1,146,247 1,417,072

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Finance leases 28,113 28,113
Trade creditors 636,626 446,983
Taxation and social security 379,001 517,490
Other creditors 137,772 164,738
1,181,512 1,157,324

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Finance leases 23,200 46,824