Mike Thomas Trimming Limited - Filleted accounts

Registered number

07664343

Mike Thomas Trimming Limited

Filleted Accounts

30 June 2025

Mike Thomas Trimming Limited
Registered number: 07664343
Balance Sheet
as at 30 June 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		-			1,135

Current assets
Stocks		-			4,675
Debtors	5	7,241			115
Cash at bank and in hand		1,135			38,616
		8,376			43,406

Creditors: amounts falling due within one year	6	(8,350)			(17,790)

Net current assets			26			25,616

Total assets less current liabilities			26			26,751

Provisions for liabilities			-			(216)

Net assets			26			26,535

Capital and reserves
Called up share capital			4			4
Profit and loss account			22			26,531

Shareholders' funds			26			26,535

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The statement of income and retained earnings has not been delivered to the Registrar of Companies.



……………………………………
Mr M P Thomas
Director
Approved by the board on 30 September 2025

Mike Thomas Trimming Limited
Notes to the Accounts
for the year ended 30 June 2025


1	Accounting policies

	The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied:

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland, Section 1A (small entities). There have been no material departures from that standard.

	Fundamental accounting concept
	The financial statements have been prepared under a basis other than going concern because the company ceased trading during the year. Accordingly, all assets have been reduced to net realisable value; and liabilities arising in connection with the cessation of trade have been included.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulated amortisation and impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			10% on reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the 'first in first out' method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					-		0.75


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 July 2024							10,000
	At 30 June 2025							10,000

	Amortisation
	At 1 July 2024							10,000
	At 30 June 2025							10,000

	Net book value
	At 30 June 2025							-

	Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.


4	Tangible fixed assets
								Plant and machinery
£
	Cost
	At 1 July 2024							4,375
	Disposals							(4,375)
	At 30 June 2025							-

	Depreciation
	At 1 July 2024							3,240
	On disposals							(3,240)
	At 30 June 2025							-

	Net book value
	At 30 June 2025							-
	At 30 June 2024							1,135


5	Debtors					2025		2024
£							£

	Other debtors					7,241		115


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Taxation and social security costs					4,382		12,201
	Other creditors					3,968		5,589
						8,350		17,790


7	Loans to directors
	During the year the company made advances to directors. No interest was paid on these amounts, and no significant conditions were stipulated. These advances, together with amounts repaid, are set out below:	B/fwd	Paid		Repaid		C/fwd
£			£		£		£

	Total loans to directors	(5)		41,070		(35,737)		5,328

	The above amounts include individually material advances of £2,850, £1,885, £2,047 and £2,000, together with individually material repayments of £30,000 and £4,700. The maximum balance during the year was £39,204.


8	Other information

	Mike Thomas Trimming Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Ralls House, Parklands Business Park, Forest Road, Denmead, Waterlooville, Hants, PO7 6XP.