Thomas Spar Limited

	Page
Company Information	1
Directors' Report	2
Accountant's Report	3
Profit and Loss Account	4
Balance Sheet	5
Notes to the Financial Statements	6—9

Page 1

Page 2

Thomas Spar Limited

Company No. 04717833

Directors' Report For The Year Ended 5 April 2025

Directors' Report

The directors present their report and the financial statements for the year ended 5 April 2025.

Directors

The directors who held office during the year were as follows:

Mr Dyfed Thomas

Mrs A Thomas

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board

Mrs A Thomas

Director

01/09/2025

Page 2

Page 3

Thomas Spar Limited

Accountant's Report

For The Year Ended 5 April 2025

Accountant's Report

Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Thomas Spar Limited For The Year Ended 5 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Thomas Spar Limited For The Year Ended 5 April 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

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

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

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

We have not been instructed to carry out an audit of the accounts of Thomas Spar 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 financial statements.

Signed

01/09/2025

DN Accounting Solutions

Maesteg

Drefach Felindre

Llandysul

Carms

SA44 5UY

Page 3

Page 4

Thomas Spar Limited

Profit and Loss Account

For The Year Ended 5 April 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		946,343	1,050,451
Cost of sales		(738,018 )	(832,374 )

GROSS PROFIT		208,325	218,077

Administrative expenses		(208,288 )	(199,617 )

OPERATING PROFIT		37	18,460
Other interest receivable and similar income		2,833	-
Interest payable and similar charges		(430 )	(680 )

PROFIT BEFORE TAXATION		2,440	17,780
Tax on Profit	4	(826 )	(4,010 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,614	13,770

The notes on pages 6 to 9 form part of these financial statements.

Page 4

Page 5

Thomas Spar Limited

Balance Sheet

As At 5 April 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	6		253,916		253,949

			253,916		253,949
CURRENT ASSETS
Stocks	7	57,713		56,153
Debtors	8	492		492
Cash at bank and in hand		105,557		127,223

		163,762		183,868
Creditors: Amounts Falling Due Within One Year	9	(57,776 )		(68,529 )

NET CURRENT ASSETS (LIABILITIES)			105,986		115,339

TOTAL ASSETS LESS CURRENT LIABILITIES			359,902		369,288

Creditors: Amounts Falling Due After More Than One Year	10		(1,667 )		(11,667 )

NET ASSETS			358,235		357,621

CAPITAL AND RESERVES
Called up share capital	11		4		4
Profit and Loss Account			358,231		357,617

SHAREHOLDERS' FUNDS			358,235		357,621

For the year ending 5 April 2025 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 in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mrs A Thomas

Director

01/09/2025

The notes on pages 6 to 9 form part of these financial statements.

Page 5

Page 6

Thomas Spar Limited

Notes to the Financial Statements

For The Year Ended 5 April 2025

Notes to the Financial Statements

1. General Information

Thomas Spar Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04717833 . The registered office is Spar Stores, Lincoln Street, Llandysul, Ceredigion, SA44 4BS.

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. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. 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	nil
Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33% reducing balance

2.5. 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.

2.6. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Page 6

Page 7

Thomas Spar Limited

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2025	2024
Sales, marketing and distribution	20	20

	20	20

4. Tax on Profit

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	19.0%	19.0%	826	4,010


Total tax charge for the period			826	4,010


			2025	2024
			£	£
Profit before tax			2,440	17,780

Breakdown of tax charge is:
Tax on profit at 19% (UK standard rate)			464	3,378
Goodwill/depreciation not allowed for tax			440	83
Expenses not deductible for tax purposes			-	549
Capital allowances			(78 )	-

Total tax charge for the period			826	4,010

5. Intangible Assets

	Goodwill
	£
Cost
As at 6 April 2024	100,000

As at 5 April 2025	100,000

Amortisation
As at 6 April 2024	100,000

As at 5 April 2025	100,000

Net Book Value
As at 5 April 2025	-

As at 6 April 2024	-

Page 7

Page 8

Thomas Spar Limited

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

6. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 6 April 2024	252,899	12,175	44,833	14,294	324,201
Additions	-	-	-	407	407

As at 5 April 2025	252,899	12,175	44,833	14,701	324,608

Depreciation
As at 6 April 2024	-	12,014	44,483	13,755	70,252
Provided during the period	-	40	88	312	440

As at 5 April 2025	-	12,054	44,571	14,067	70,692

Net Book Value
As at 5 April 2025	252,899	121	262	634	253,916

As at 6 April 2024	252,899	161	350	539	253,949

7. Stocks

	2025	2024
	£	£
Stock	57,713	-
Finished goods	-	56,153

	57,713	56,153

8. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	492	492

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	10,438	16,309
Bank loans and overdrafts	10,000	10,000
Corporation tax	826	4,010
Other taxes and social security	2,111	951
VAT	4,428	3,331
Other creditors	275	275
Directors' loan accounts	29,698	33,653

	57,776	68,529

Page 8

Page 9

Thomas Spar Limited

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	1,667	11,667

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	4	4

Page 9