Acorah Software Products - Accounts Production 16.4.675 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 07071993 Mr Paul Thompson Mrs Lisa Thompson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07071993 2023-11-30 07071993 2024-11-30 07071993 2023-12-01 2024-11-30 07071993 frs-core:CurrentFinancialInstruments 2024-11-30 07071993 frs-core:ComputerEquipment 2024-11-30 07071993 frs-core:ComputerEquipment 2023-12-01 2024-11-30 07071993 frs-core:ComputerEquipment 2023-11-30 07071993 frs-core:FurnitureFittings 2024-11-30 07071993 frs-core:FurnitureFittings 2023-12-01 2024-11-30 07071993 frs-core:FurnitureFittings 2023-11-30 07071993 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-11-30 07071993 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 07071993 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 07071993 frs-core:MotorVehicles 2024-11-30 07071993 frs-core:MotorVehicles 2023-12-01 2024-11-30 07071993 frs-core:MotorVehicles 2023-11-30 07071993 frs-core:PlantMachinery 2024-11-30 07071993 frs-core:PlantMachinery 2023-12-01 2024-11-30 07071993 frs-core:PlantMachinery 2023-11-30 07071993 frs-core:ShareCapital 2024-11-30 07071993 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 07071993 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 07071993 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 07071993 frs-bus:SmallEntities 2023-12-01 2024-11-30 07071993 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 07071993 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 07071993 frs-bus:Director1 2023-12-01 2024-11-30 07071993 frs-bus:Director2 2023-12-01 2024-11-30 07071993 frs-countries:EnglandWales 2023-12-01 2024-11-30 07071993 2022-11-30 07071993 2023-11-30 07071993 2022-12-01 2023-11-30 07071993 frs-core:CurrentFinancialInstruments 2023-11-30 07071993 frs-core:ShareCapital 2023-11-30 07071993 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 07071993
Thompson Assets Ltd
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 07071993
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 893,591 617,998
893,591 617,998
CURRENT ASSETS
Stocks 5 122,848 270,176
Debtors 6 16,173 302,024
Cash at bank and in hand 281,644 13,492
420,665 585,692
Creditors: Amounts Falling Due Within One Year 7 (105,137 ) (30,923 )
NET CURRENT ASSETS (LIABILITIES) 315,528 554,769
TOTAL ASSETS LESS CURRENT LIABILITIES 1,209,119 1,172,767
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,765 ) (4,814 )
NET ASSETS 1,205,354 1,167,953
CAPITAL AND RESERVES
Called up share capital 8 20 20
Profit and Loss Account 1,205,334 1,167,933
SHAREHOLDERS' FUNDS 1,205,354 1,167,953
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Thompson
Director
Mrs Lisa Thompson
Director
28/07/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Thompson Assets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07071993 . The registered office is 22a Rose Cottages, Junction Lane, Ossett, West Yorkshire, WF5 0EZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold not provided
Plant & Machinery 50% on cost and 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 50% on cost and 25% on reducing balance
Computer Equipment 50% on cost and 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
Page 2
Page 3
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2023 592,402 2,250 26,643 35,820
Additions 281,289 158 - 718
As at 30 November 2024 873,691 2,408 26,643 36,538
Depreciation
As at 1 December 2023 - 1,593 7,056 31,152
Provided during the period - 250 4,897 1,254
As at 30 November 2024 - 1,843 11,953 32,406
Net Book Value
As at 30 November 2024 873,691 565 14,690 4,132
As at 1 December 2023 592,402 657 19,587 4,668
Computer Equipment Total
£ £
Cost
As at 1 December 2023 1,079 658,194
Additions - 282,165
As at 30 November 2024 1,079 940,359
Depreciation
As at 1 December 2023 395 40,196
Provided during the period 171 6,572
As at 30 November 2024 566 46,768
Net Book Value
As at 30 November 2024 513 893,591
As at 1 December 2023 684 617,998
5. Stocks
2024 2023
£ £
Work in progress 122,848 270,176
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,066 7,472
Other debtors 10,107 294,552
16,173 302,024
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,259 5,725
Other creditors 85,738 13,471
Taxation and social security 14,140 11,727
105,137 30,923
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
Page 4