Thomas Ware & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00031652

Thomas Ware & Sons Limited

Filleted Financial Statements

31 December 2024

Thomas Ware & Sons Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	35,224	33,192
Investments	6	349,077	334,764
		---------	---------
		384,301	367,956

Current assets

Stocks		1,372,179	1,305,437
Debtors: due within one year	7	1,236,374	1,642,163
Debtors: due after more than one year	7	52,536	76,860
Cash at bank and in hand		1,037,980	1,265,214
		------------	------------
		3,699,069	4,289,674

Creditors: amounts falling due within one year	8	268,891	732,331
		------------	------------
Net current assets		3,430,178	3,557,343
		------------	------------
Total assets less current liabilities		3,814,479	3,925,299

Provisions	10,189	10,189
	------------	------------
Net assets	3,804,290	3,915,110
	------------	------------

Capital and reserves

Called up share capital	105,000	105,000
Revaluation reserve	3,517	3,517
Capital redemption reserve	24,650	24,650
Profit and loss account	3,671,123	3,781,943
	------------	------------
Shareholders funds	3,804,290	3,915,110
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

Thomas Ware & Sons Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 8 September 2025 , and are signed on behalf of the board by:

Mr A D P Brearley

Director

Company registration number: 00031652

Thomas Ware & Sons Limited

Notes to the Financial Statements

Year ended 31st December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Clift House Tannery, Coronation Road, Southville, Bristol, BS3 1RN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency at an average rate. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	4% and 10% straight line
Plant and machinery	-	25% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	40% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Employee benefit trust

The company has established an employee benefit trust (Thomas Ware & Sons EBT) which is a separately administered trust. In accordance with FRS102, the assets and liabilities of the employee benefit trust have been consolidated in the results of Thomas Ware & Sons Limited

4. Employee numbers

The average number of persons employed by the company during the year amounted to 31 (2023: 35 ).

5. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1st January 2024	529,275	1,553,674	11,611	13,090	2,107,650
Additions	–	12,859	–	–	12,859
	---------	------------	--------	--------	------------
At 31st December 2024	529,275	1,566,533	11,611	13,090	2,120,509
	---------	------------	--------	--------	------------
Depreciation
At 1st January 2024	513,779	1,541,206	7,228	12,245	2,074,458
Charge for the year	3,337	5,798	1,092	600	10,827
	---------	------------	--------	--------	------------
At 31st December 2024	517,116	1,547,004	8,320	12,845	2,085,285
	---------	------------	--------	--------	------------
Carrying amount
At 31st December 2024	12,159	19,529	3,291	245	35,224
	---------	------------	--------	--------	------------
At 31st December 2023	15,496	12,468	4,383	845	33,192
	---------	------------	--------	--------	------------

The investment property was disposed of during the previous year. The historic cost of the investment property at 31.12.22 was £80,000.

6. Investments

	Shares in group undertakings	Other investments other than loans	Total
	£	£	£
Cost
At 1st January 2024	200	334,564	334,764
Additions	–	34,371	34,371
Disposals	–	( 32,503)	( 32,503)
Other movements	–	12,445	12,445
	----	---------	---------
At 31st December 2024	200	348,877	349,077
	----	---------	---------
Impairment
At 1st January 2024 and 31st December 2024	–	–	–
	----	---------	---------

Carrying amount
At 31st December 2024	200	348,877	349,077
	----	---------	---------
At 31st December 2023	200	334,564	334,764
	----	---------	---------

7. Debtors

Debtors falling due within one year are as follows:

	2024	2023
	£	£
Trade debtors	395,808	499,270
Amounts owed by group undertakings and undertakings in which the company has a participating interest	284,130	501,352
Other debtors	556,436	641,541
	------------	------------
	1,236,374	1,642,163
	------------	------------

Debtors falling due after one year are as follows:

	2024	2023
	£	£
Other debtors	52,536	76,860
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	–	193,447
Trade creditors	127,728	279,322
Corporation tax	303	3,982
Social security and other taxes	19,682	62,207
Other creditors	121,178	193,373
	---------	---------
	268,891	732,331
	---------	---------

9. Analysis of other comprehensive income

	Revaluation reserve
	£

Year ended 31st December 2023
Reclassification from revaluation reserve to profit and loss account	( 70,643)
	--------

10. Summary audit opinion

The auditor's report dated 15 September 2025 was unqualified .

The senior statutory auditor was Richard Jay , for and on behalf of Jay & Jay Partnership Limited .