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REGISTERED NUMBER: 01347993 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2025

FOR

G.P.THOMAS AND SON LIMITED

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page |

Company information | 1 |

Balance sheet | 2 |

Notes to the financial statements | 4 |

G.P.THOMAS AND SON LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

| Directors: | G G Thomas

| D G Thomas

| B H Thomas

| Secretary: | B H Thomas

| Registered office: | Unit 5 Brierley Way

| Southern Avenue

| Leominster

| Herefordshire

| HR6 0RW

| Registered number: | 01347993 (England and Wales)

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

BALANCE SHEET

31ST MARCH 2025

31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £

Fixed assets

Tangible assets | 4 | 1,891,768 |  | 1,666,856 |  |

Investment property | 5 | 1,045,000 |  | 1,045,000 |  |

2,936,768 |  | 2,711,856 |  |

Current assets

Stocks | 6 | 3,253,575 |  | 3,755,754 |  |

Debtors | 7 | 1,500,191 |  | 1,167,744 |  |

Cash at bank and in hand | 305,221 |  | 3,217 |  |

5,058,987 |  | 4,926,715 |  |

Creditors

Amounts falling due within one year | 8 | 1,999,153 |  | 2,016,548 |  |

Net current assets | 3,059,834 |  | 2,910,167 |  |

Total assets less current liabilities | 5,996,602 |  | 5,622,023 |  |

Creditors

Amounts falling due after more than one year | 9 | (946,136 | ) | (661,433 | ) |

Provisions for liabilities | 12 | (571,700 | ) | (545,600 | ) |

Net assets | 4,478,766 |  | 4,414,990 |  |

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

BALANCE SHEET - continued

31ST MARCH 2025

31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £

Capital and reserves

Called up share capital | 13 | 21,110 |  | 21,110 |  |

Revaluation reserve | 14 | 790,993 |  | 790,993 |  |

Undistribr. reserves | 783,750 |  | 783,750 |  |

Retained earnings | 2,882,913 |  | 2,819,137 |  |

Shareholders' funds | 4,478,766 |  | 4,414,990 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 4th December 2025 and were signed on its behalf by:

G G Thomas - Director

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

1. | Statutory information

| G.P.Thomas and Son 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 as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Long term contracts are those where the time taken substantially to complete the contract is such that the contract activity falls into different accounting periods. Long term contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. The degree of completion of the contract is assessed by comparing the cost of the work completed at the financial year end to total anticipated cost of the contract.

| When it is probable that total contract costs exceed total contract turnover, the expected loss is recognised as a cost immediately.

| Tangible fixed assets

| Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

| Freehold property - 0%

| Plant & machinery - 15% on reducing balance

| Motor vehicles - 20% on reducing balance

| Office equipment - 20% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks & 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 items.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | Accounting policies - continued

| 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 & 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 and loss on a straight line basis over the period of the lease.

| Pension costs & 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.

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | Accounting policies - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Other financial assets

| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities. Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

2. | Accounting policies - continued

| Other financial liabilities

| Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. | Employees (including officers)

| The average number of employees during the year was 28 (2024 - 31 ) .

4. | Tangible fixed assets

Freehold | Plant & | Motor | Office |  |

property | machinery | vehicles | equipment | Totals |

| £ | £ | £ | £ | £

| Cost or valuation

| At 1st April 2024 | 1,425,000 |  | 139,581 |  | 542,542 |  | 70,628 |  | 2,177,751 |  |

| Additions | - |  | - |  | 312,346 |  | 11,027 |  | 323,373 |  |

| Disposals | - |  | - |  | (32,995 | ) | - |  | (32,995 | ) |

| At 31st March 2025 | 1,425,000 |  | 139,581 |  | 821,893 |  | 81,655 |  | 2,468,129 |  |

| Depreciation

| At 1st April 2024 | - |  | 110,417 |  | 348,671 |  | 51,807 |  | 510,895 |  |

| Charge for year | - |  | 4,376 |  | 70,217 |  | 4,567 |  | 79,160 |  |

| Eliminated on disposal | - |  | - |  | (13,694 | ) | - |  | (13,694 | ) |

| At 31st March 2025 | - |  | 114,793 |  | 405,194 |  | 56,374 |  | 576,361 |  |

| Net book value

| At 31st March 2025 | 1,425,000 |  | 24,788 |  | 416,699 |  | 25,281 |  | 1,891,768 |  |

| At 31st March 2024 | 1,425,000 |  | 29,164 |  | 193,871 |  | 18,821 |  | 1,666,856 |  |

| Cost or valuation at 31st March 2025 is represented by:

Freehold | Plant & | Motor | Office |  |

property | machinery | vehicles | equipment | Totals |

| £ | £ | £ | £ | £

| Valuation in 2023 | 1,054,743 |  | - |  | - |  | - |  | 1,054,743 |  |

| Cost | 370,257 |  | 139,581 |  | 821,893 |  | 81,655 |  | 1,413,386 |  |

1,425,000 |  | 139,581 |  | 821,893 |  | 81,655 |  | 2,468,129 |  |

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

4. | Tangible fixed assets - continued

| The net book value of tangible fixed assets includes £ 335,021 (2024 - £ 60,667 ) in respect of assets held under hire purchase contracts.

5. | Investment property

Total |

| £

| Fair value

| At 1st April 2024

| and 31st March 2025 | 1,045,000 |  |

| Net book value

| At 31st March 2025 | 1,045,000 |  |

| At 31st March 2024 | 1,045,000 |  |

| Investment property has been included in these accounts at market value as valued by the Directors as at 31.03.2023. They do not consider the value as at 31.03.2025 to be materially different to that shown in the accounts.

6. | Stocks

31.3.25 | 31.3.24 |

| £ | £

| Raw materials | 65,720 |  | 54,630 |  |

| Fuel | 900 |  | 200 |  |

| Work-in-progress | 3,186,955 |  | 3,700,924 |  |

3,253,575 |  | 3,755,754 |  |

7. | Debtors: amounts falling due within one year |

31.3.25 | 31.3.24 |

| £ | £

| Trade debtors | 918,611 |  | 515,219 |  |

| Amounts owed by related undertakings | 443,261 |  | 460,349 |  |

| Other debtors | 4,447 |  | 4,447 |  |

| Directors' loan accounts | 31,599 |  | 154,435 |  |

| Corporation tax | 35,987 |  | - |  |

| Prepayments & accrued income | 66,286 |  | 33,294 |  |

1,500,191 |  | 1,167,744 |  |

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

8. | Creditors: amounts falling due within one year |

31.3.25 | 31.3.24 |

| £ | £

| Bank loans & overdrafts (see note 10) | 304,487 |  | 690,359 |  |

| Other loans (see note 10) | 300,000 |  | 300,000 |  |

| Hire purchase contracts (see note 11) | 64,972 |  | 25,499 |  |

| Trade creditors | 805,240 |  | 879,745 |  |

| Amounts owed to related undertakings | 376,250 |  | - |  |

| Social security & other taxes | 38,627 |  | 38,451 |  |

| VAT | 63,397 |  | 10,678 |  |

| Other creditors | 14,383 |  | - |  |

| S455 tax | - |  | 4,197 |  |

| Accrued expenses | 31,797 |  | 67,619 |  |

1,999,153 |  | 2,016,548 |  |

9. | Creditors: amounts falling due after more than one year |

31.3.25 | 31.3.24 |

| £ | £

| Bank loans (see note 10) | 725,862 |  | 636,726 |  |

| Hire purchase contracts (see note 11) | 220,274 |  | 24,707 |  |

946,136 |  | 661,433 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more than five years by instalments | 656,454 |  | 526,074 |  |

10. | Loans

| An analysis of the maturity of loans is given below:

31.3.25 | 31.3.24 |

| £ | £

| Amounts falling due within one year or on demand:

| Bank overdrafts | - |  | 11,345 |  |

| Bank loans | 304,487 |  | 679,014 |  |

| Other loans | 300,000 |  | 300,000 |  |

604,487 |  | 990,359 |  |

| Amounts falling due between two and five years:

| Bank loans two to five years | 69,408 |  | 110,652 |  |

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

10. | Loans - continued

31.3.25 | 31.3.24 |

| £ | £

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more than five years by instalments | 656,454 |  | 526,074 |  |

| The bank loans of £1,030,349 are secured by a fixed and floating charges over the assets of the company.

11. | Leasing agreements

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

31.3.25 | 31.3.24 |

| £ | £

| Net obligations repayable:

| Within one year | 64,972 |  | 25,499 |  |

| Between one and five years | 220,274 |  | 24,707 |  |

285,246 |  | 50,206 |  |

Non-cancellable |

operating leases |

31.3.25 | 31.3.24 |

| £ | £

| Within one year | 14,079 |  | 24,658 |  |

| Between one and five years | 18,226 |  | - |  |

32,305 |  | 24,658 |  |

12. | Provisions for liabilities

31.3.25 | 31.3.24 |

| £ | £

| Deferred tax | 571,700 |  | 545,600 |  |

Deferred tax |

| £

| Balance at 1st April 2024 | 545,600 |  |

| Provided during year | 26,100 |  |

| Balance at 31st March 2025 | 571,700 |  |

G.P.THOMAS AND SON LIMITED (REGISTERED NUMBER: 01347993)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

13. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 | 31.3.24 |

value: |  | £ | £

| 21,110 | Ordinary shares | £1 | 21,110 |  | 21,110 |  |

14. | Reserves

Revaluation |

reserve |

| £

| At 1st April 2024

| and 31st March 2025 | 790,993 |  |

15. | Contingent liabilities

| There were no contingent liabilities as at 31st March 2025.

16. | Directors' advances, credits and guarantees

| During the year the Directors used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £22,164 and repayments of £147,000 were made during the year. The balance at the year end was £31,599 owed to the company (2024: £154,435).

| The loans and advances were made interest free and were repayable on demand.

17. | Related party disclosures

| The following transactions, with related parties, on normal commercial terms took place during the year:

|  | Loans |  | Debtor balance |  |

|  | £ |  | £ |  |

| Transactions with entities with common key management personnel |  | 394,250 |  | 67,011 |  |

| The loans and advances were made interest free and were repayable on demand.