IRIS Accounts Production v25.1.4.42 07422692 director 1.11.23 31.10.24 31.10.24 false true false false false true false Ordinary 1.00000 Ordinary 2 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074226922023-10-31074226922024-10-31074226922023-11-012024-10-31074226922022-10-31074226922022-11-012023-10-31074226922023-10-3107422692ns15:EnglandWales2023-11-012024-10-3107422692ns14:PoundSterling2023-11-012024-10-3107422692ns10:Director12023-11-012024-10-3107422692ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3107422692ns10:SmallEntities2023-11-012024-10-3107422692ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3107422692ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3107422692ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3107422692ns10:FullAccounts2023-11-012024-10-310742269212023-11-012024-10-3107422692ns10:OrdinaryShareClass12023-11-012024-10-3107422692ns10:OrdinaryShareClass22023-11-012024-10-3107422692ns10:CompanySecretary12023-11-012024-10-3107422692ns10:RegisteredOffice2023-11-012024-10-3107422692ns5:CurrentFinancialInstruments2024-10-3107422692ns5:CurrentFinancialInstruments2023-10-3107422692ns5:Non-currentFinancialInstruments2024-10-3107422692ns5:Non-currentFinancialInstruments2023-10-3107422692ns5:ShareCapital2024-10-3107422692ns5:ShareCapital2023-10-3107422692ns5:RetainedEarningsAccumulatedLosses2024-10-3107422692ns5:RetainedEarningsAccumulatedLosses2023-10-3107422692ns5:NetGoodwill2023-11-012024-10-3107422692ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3107422692ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-11-012024-10-3107422692ns5:FurnitureFittings2023-11-012024-10-3107422692ns5:MotorVehicles2023-11-012024-10-3107422692ns5:NetGoodwill2023-10-3107422692ns5:NetGoodwill2024-10-3107422692ns5:NetGoodwill2023-10-3107422692ns5:LandBuildings2023-10-3107422692ns5:FurnitureFittings2023-10-3107422692ns5:MotorVehicles2023-10-3107422692ns5:LandBuildings2023-11-012024-10-3107422692ns5:LandBuildings2024-10-3107422692ns5:FurnitureFittings2024-10-3107422692ns5:MotorVehicles2024-10-3107422692ns5:LandBuildings2023-10-3107422692ns5:FurnitureFittings2023-10-3107422692ns5:MotorVehicles2023-10-3107422692ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3107422692ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3107422692ns10:OrdinaryShareClass12024-10-3107422692ns10:OrdinaryShareClass22024-10-31074226921ns10:Director12023-10-31074226921ns10:Director12022-10-31074226921ns10:Director12023-11-012024-10-31074226921ns10:Director12022-11-012023-10-31074226921ns10:Director12024-10-31074226921ns10:Director12023-10-31
REGISTERED NUMBER: 07422692 (England and Wales)














THORNTON FINANCIAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






THORNTON FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 07422692)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


THORNTON FINANCIAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: A D Thornton





SECRETARY: Company Secretaries (South) Limited





REGISTERED OFFICE: Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ





REGISTERED NUMBER: 07422692 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
24 Landgate
Rye
East Sussex
TN31 7LJ

THORNTON FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 07422692)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 48,244 40,716
48,244 40,716

CURRENT ASSETS
Debtors 6 13,723 21,509
Cash at bank 1,349 5,039
15,072 26,548
CREDITORS
Amounts falling due within one year 7 37,874 20,146
NET CURRENT (LIABILITIES)/ASSETS (22,802 ) 6,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,442

47,118

CREDITORS
Amounts falling due after more than
one year

8

-

21,938
NET ASSETS 25,442 25,180

CAPITAL AND RESERVES
Called up share capital 9 25,100 25,100
Retained earnings 342 80
SHAREHOLDERS' FUNDS 25,442 25,180

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

THORNTON FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 07422692)

BALANCE SHEET - continued
31 OCTOBER 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 director and authorised for issue on 27 November 2024 and were signed by:





A D Thornton - Director


THORNTON FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 07422692)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Thornton Financial Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is commissions receivable in the year.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five 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.
Freehold property - 5% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

THORNTON FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 07422692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 9,200
AMORTISATION
At 1 November 2023
and 31 October 2024 9,200
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2023 40,000 17,580 37,534 95,114
Additions 31,514 818 - 32,332
Disposals - - (37,534 ) (37,534 )
At 31 October 2024 71,514 18,398 - 89,912
DEPRECIATION
At 1 November 2023 24,000 12,657 17,741 54,398
Charge for year 3,576 1,435 - 5,011
Eliminated on disposal - - (17,741 ) (17,741 )
At 31 October 2024 27,576 14,092 - 41,668
NET BOOK VALUE
At 31 October 2024 43,938 4,306 - 48,244
At 31 October 2023 16,000 4,923 19,793 40,716

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,038 1,995
Other debtors 9,685 19,514
13,723 21,509

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 21,938 5,240
Taxation and social security 14,196 13,346
Other creditors 1,740 1,560
37,874 20,146

THORNTON FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 07422692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 21,938

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
25,000 Ordinary 2 £1 25,000 25,000
25,100 25,100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
A D Thornton
Balance outstanding at start of year 19,514 10,965
Amounts advanced 64,538 45,539
Amounts repaid (74,367 ) (36,990 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,685 19,514

The loan balance will be repaid within nine months of the year end by way of dividend.