| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| H Thorley & Sons Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| H Thorley & Sons Limited |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| H Thorley & Sons Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| H Thorley & Sons Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised in the year in which services are provided. |
| Tangible fixed assets |
| Computer equipment | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor lorries | - |
| Freehold property is not depreciated but is revalued annually at its fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the fair value reserve. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving and obsolete items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
| 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. |
| Invoice discounting |
| The debts discounted are included within trade debtors with a financing limit relating to proceeds received from the invoice discounter included within creditors. |
| The interest element and other discount charges are recognised within the profit and loss account as they accrue. |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and finance leases |
| Leases of assets that transfer substantially all the risks and rewards incidental to ownership are |
| classified as finance leases. |
| Finance leases are capitalised at commencement of the lease as assets at cost. |
| Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset. |
| The capital element of lease obligations is recorded as a liability on inception of the arrangement. |
| Lease payments are apportioned between capital repayment and finance charge, using |
| the effective interest rate method, to produce a constant rate of charge on the balance of the capital |
| repayments outstanding. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Computer | Plant and |
| property | equipment | machinery |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixtures |
| and | Motor |
| fittings | lorries | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Cost or valuation at 31 March 2025 is represented by: |
| Freehold | Computer | Plant and |
| property | equipment | machinery |
| £ | £ | £ |
| Valuation in 2025 | 125,000 | - | - |
| Cost | - | 7,443 | 69,949 |
| 125,000 | 7,443 | 69,949 |
| Fixtures |
| and | Motor |
| fittings | lorries | Totals |
| £ | £ | £ |
| Valuation in 2025 | - | - | 125,000 |
| Cost | 19,247 | 1,293,927 | 1,390,566 |
| 19,247 | 1,293,927 | 1,515,566 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 9,451 | 9,451 |
| Aggregate depreciation | 1,006 | 817 |
| Freehold property was valued on a fair value basis on 31 March 2025 by the directors . |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax recoverable | - | 3,243 |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Advances under factoring arrangements | 52,933 | 140,829 |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Director's current account | 124,433 | 124,316 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Advances under factoring arrangements |
| Hire purchase contracts | 139,166 | 177,624 |
| Hire purchase contracts are secured against the vehicles under hire purchase. |
| Factoring arrangements are secured against the trade debtors of the company. |
| 9. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| H Thorley & Sons Limited (Registered number: 03169475) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 9. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Credit to Profit and Loss Account during year | ( |
) |
| Balance at 31 March 2025 |