Company registration number 05769916 (England and Wales)
T H VICKERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
T H VICKERS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
T H VICKERS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
147,408
148,351
Current assets
Debtors
4
216,084
190,048
Cash at bank and in hand
202,976
58,901
419,060
248,949
Creditors: amounts falling due within one year
5
(281,595)
(157,208)
Net current assets
137,465
91,741
Total assets less current liabilities
284,873
240,092
Creditors: amounts falling due after more than one year
6
(10,833)
(20,833)
Provisions for liabilities
(2,702)
(1,938)
Net assets
271,338
217,321
Capital and reserves
Called up share capital
2,360
2,360
Profit and loss reserves
268,978
214,961
Total equity
271,338
217,321

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

T H VICKERS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 September 2025 and are signed on its behalf by:
A Barrass
Director
Company Registration No. 05769916
T H VICKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

T H Vickers Limited is a private company limited by shares incorporated in England and Wales. The registered office is Darlington Farmers Auction Mart Humbleton Park, West Auckland Road, Darlington, County Durham, DL2 2YH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line
Plant and equipment
25% straight line
Fixtures and fittings
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

T H VICKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

T H VICKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

T H VICKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
16
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2024
185,334
4,438
19,236
209,008
Additions
-
0
3,800
3,482
7,282
At 31 December 2024
185,334
8,238
22,718
216,290
Depreciation and impairment
At 1 January 2024
51,439
2,165
7,053
60,657
Depreciation charged in the year
3,707
1,822
2,696
8,225
At 31 December 2024
55,146
3,987
9,749
68,882
Carrying amount
At 31 December 2024
130,188
4,251
12,969
147,408
At 31 December 2023
133,895
2,273
12,183
148,351
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
185,126
170,227
Other debtors
103
103
Prepayments and accrued income
30,855
19,718
216,084
190,048
T H VICKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7
10,000
10,000
Trade creditors
8,623
8,765
Amounts owed to group undertakings
97,880
35,793
Taxation and social security
96,047
68,985
Accruals and deferred income
69,045
33,665
281,595
157,208
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7
10,833
20,833
7
Loans and overdrafts
2024
2023
£
£
Bank loans
20,833
30,833
Payable within one year
10,000
10,000
Payable after one year
10,833
20,833

A legal charge over 16-17 Castle Bank Tow Law Bishop Auckland held by Barclays Security Trustee Limited for the benefit of Barclays Bank UK PLC, Barclays Bank PLC and Barclays Mercantile Business Finance Limited.

Bounce back loan is denominated in sterling with a nominal interest rate of 2.50%, and the final instalment is due on 31 December 2026. The carrying amount at year end is £2 0,833 (202 3 - £30,833). The loan is secured by way of a fixed and floating charge over the assets of the company.

8
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
19,998
21,252

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Included in the statement of financial position are unpaid pension contributions of £725 (202 3 - £3,280).

T H VICKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
20,744
33,846
10
Parent company

The ultimate parent is The Darlington Farmers Auction Mart Limited, incorporated in England and Wales.

The ultimate controlling party is The Darlington Farmers Auction Mart Limited.

2024-12-31 2024-01-01 false false false 03 September 2025 CCH Software CCH Accounts Production 2025.100 No description of principal activity J P P Allison A Barrass S Catterall D W Coulson H E Stafford 05769916 2024-01-01 2024-12-31 05769916 2024-12-31 05769916 2023-12-31 05769916 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 05769916 core:PlantMachinery 2024-12-31 05769916 core:FurnitureFittings 2024-12-31 05769916 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 05769916 core:PlantMachinery 2023-12-31 05769916 core:FurnitureFittings 2023-12-31 05769916 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05769916 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05769916 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 05769916 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 05769916 core:CurrentFinancialInstruments 2024-12-31 05769916 core:CurrentFinancialInstruments 2023-12-31 05769916 core:ShareCapital 2024-12-31 05769916 core:ShareCapital 2023-12-31 05769916 core:RetainedEarningsAccumulatedLosses 2024-12-31 05769916 core:RetainedEarningsAccumulatedLosses 2023-12-31 05769916 bus:Director2 2024-01-01 2024-12-31 05769916 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05769916 core:PlantMachinery 2024-01-01 2024-12-31 05769916 core:FurnitureFittings 2024-01-01 2024-12-31 05769916 2023-01-01 2023-12-31 05769916 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 05769916 core:PlantMachinery 2023-12-31 05769916 core:FurnitureFittings 2023-12-31 05769916 2023-12-31 05769916 core:Non-currentFinancialInstruments 2024-12-31 05769916 core:Non-currentFinancialInstruments 2023-12-31 05769916 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05769916 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05769916 bus:FRS102 2024-01-01 2024-12-31 05769916 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05769916 bus:Director1 2024-01-01 2024-12-31 05769916 bus:Director3 2024-01-01 2024-12-31 05769916 bus:Director4 2024-01-01 2024-12-31 05769916 bus:Director5 2024-01-01 2024-12-31 05769916 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP