REGISTERED NUMBER: 08228659 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 September 2024

for

Thornton Home Improvements Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr. L P Thornton

REGISTERED OFFICE:

Abacus House

Pennine Business Park

Longbow Close

Huddersfield

West Yorkshire

HD2 1GQ

REGISTERED NUMBER:

08228659 (England and Wales)

ACCOUNTANTS:

Crowther Chartered Accountants

Abacus House

Pennine Business Park

Longbow Close

Huddersfield

West Yorkshire

HD2 1GQ

FIXED ASSETS

Tangible assets

4

22,496

29,995

CURRENT ASSETS

Stocks

5

94,500

90,000

Debtors

6

188,139

172,610

Cash at bank

467

686

283,106

263,296

CREDITORS

Amounts falling due within one year

7

378,920

248,281

NET CURRENT (LIABILITIES)/ASSETS

(95,814

)

15,015

TOTAL ASSETS LESS CURRENT LIABILITIES

(73,318

)

45,010

CREDITORS

Amounts falling due after more than one year

8

(22,297

)

(44,665

)

PROVISIONS FOR LIABILITIES

(5,624

)

-

NET (LIABILITIES)/ASSETS

(101,239

)

345

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

(101,539

)

45

SHAREHOLDERS' FUNDS

(101,239

)

345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 September 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.

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 3 July 2025 and were signed by:

Mr. L P Thornton - Director

1.	STATUTORY INFORMATION

Thornton Home Improvements 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.

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 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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

At each reporting date the company assess whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 11 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 29 September 2023

and 28 September 2024

34,640

734

37,647

806

73,827

DEPRECIATION

At 29 September 2023

22,116

195

20,715

806

43,832

Charge for year

3,131

135

4,233

-

7,499

At 28 September 2024

25,247

330

24,948

806

51,331

NET BOOK VALUE

At 28 September 2024

9,393

404

12,699

-

22,496

At 28 September 2023

12,524

539

16,932

-

29,995

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

Motor

vehicles

£

COST

At 29 September 2023

and 28 September 2024

37,647

DEPRECIATION

At 29 September 2023

and 28 September 2024

7,546

NET BOOK VALUE

At 28 September 2024

30,101

At 28 September 2023

30,101

Included within the net book value above is £12,699 (2023 - £16,932), which relates to assets held under hire purchase agreements. The depreciation charge to the financial statements in the year in respect of such assets amounted to £4,233 (2023 - £5,644).

5.

STOCKS

28.9.24

28.9.23

£

£

Stocks

94,500

90,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.9.24

28.9.23

£

£

Trade debtors

174,314

130,970

Other debtors

13,825

41,640

188,139

172,610

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.9.24

28.9.23

£

£

Bank loans and overdrafts (see note 9)

23,924

28,753

Finance leases

6,368

6,368

Trade creditors

83,602

59,342

Taxation and social security

254,548

144,660

Other creditors

10,478

9,158

378,920

248,281

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.9.24

28.9.23

£

£

Bank loans (see note 9)

10,666

26,666

Finance leases

11,631

17,999

22,297

44,665

9.

LOANS

An analysis of the maturity of loans is given below:

28.9.24

28.9.23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

7,924

12,753

Bank loans

16,000

16,000

Other loans

-

1,646

23,924

30,399

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,666

16,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

10,666

10.	SECURED DEBTS

The following secured debts are included within creditors:

28.9.24

28.9.23

£

£

Bank loans

26,666

42,666

Finance leases

17,999

24,367

44,665

67,033

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 September 2024 and 28 September 2023:

28.09.24

28.09.23

£

£

Director 1

Balance outstanding at start of year

26,753

27,438

Amounts advanced

64,289

63,626

Amounts repaid

(91,042

)

(64,311

)

Amounts waived

-

-

Amounts written off

-

-

Balance outstanding at end of year

-

26,753

Included within creditors, amounts due within one year, is a loan from the director of £420 (2023: £nil). The loan is interest free and is repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr. L P Thornton.