A.F. Thomas & Sons Limited

	Page
Accountant's Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—8

Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of A.F. Thomas & Sons Limited For The Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of A.F. Thomas & Sons Limited For The Year Ended 31 March 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of A.F. Thomas & Sons Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A.F. Thomas & Sons Limited and state those matters that we have agreed to state to the director of A.F. Thomas & Sons Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A.F. Thomas & Sons Limited and its director, as a body, for our work or for this report.

It is your duty to ensure that A.F. Thomas & Sons Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of A.F. Thomas & Sons Limited . You consider that A.F. Thomas & Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of A.F. Thomas & Sons Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

12/12/2025

Ellis Lloyd Jones LLP

Chartered Accountants

11 Park Square

Newport

NP20 4EL

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A.F. Thomas & Sons Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: 00650450

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		215,538		206,176
Investments	6		58,767		56,770

			274,305		262,946
CURRENT ASSETS
Stocks	7	431,041		390,565
Debtors	8	73,221		74,831
Cash at bank and in hand		-		2,374

		504,262		467,770
Creditors: Amounts Falling Due Within One Year	9	(264,208 )		(229,823 )

NET CURRENT ASSETS (LIABILITIES)			240,054		237,947

TOTAL ASSETS LESS CURRENT LIABILITIES			514,359		500,893

Creditors: Amounts Falling Due After More Than One Year	10		(53,130 )		(53,063 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(19,431 )		(17,577 )

NET ASSETS			441,798		430,253

CAPITAL AND RESERVES
Called up share capital	13		100		100
Revaluation reserve	14		102,148		102,148
Capital redemption reserve			62		62
Profit and Loss Account			339,488		327,943

SHAREHOLDERS' FUNDS			441,798		430,253

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A.F. Thomas & Sons Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr A Thomas

Director

12/12/2025

The notes on pages 4 to 8 form part of these financial statements.

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A.F. Thomas & Sons Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

A.F. Thomas & Sons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00650450 . The registered office is Unit (H) 1c Mendalgief Retail Park, Docks Way, Newport, Gwent, NP20 2NY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The presentational currency of the financial statements is pound sterling and the figures are rounded to the nearest pound.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets includes trademarks and licences. Intangible assets are amortised to profit and loss account over their estimated economic life of 4 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	2% straight line
Leasehold	10% straight line
Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and 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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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A.F. Thomas & Sons Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 24 (2024: 18)

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	4,600

As at 31 March 2025	4,600

Amortisation
As at 1 April 2024	4,600

As at 31 March 2025	4,600

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£	£
Cost
As at 1 April 2024	170,000	179,984	98,242	67,288	515,514
Additions	-	-	-	32,885	32,885

As at 31 March 2025	170,000	179,984	98,242	100,173	548,399

...CONTINUED

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A.F. Thomas & Sons Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	4,200	161,998	89,024	54,116	309,338
Provided during the period	400	17,986	1,844	3,293	23,523

As at 31 March 2025	4,600	179,984	90,868	57,409	332,861

Net Book Value
As at 31 March 2025	165,400	-	7,374	42,764	215,538

As at 1 April 2024	165,800	17,986	9,218	13,172	206,176

6. Investments

	Unlisted
	£
Cost
As at 1 April 2024	56,770
Additions	2,247
Disposals	(250 )

As at 31 March 2025	58,767

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	58,767

As at 1 April 2024	56,770

7. Stocks

	2025	2024
	£	£
Finished goods	431,041	390,565

8. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	29,999	31,609
Other debtors	43,222	43,222

	73,221	74,831

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A.F. Thomas & Sons Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	15,530	5,974
Trade creditors	134,124	96,881
Bank loans and overdrafts	14,013	10,000
Corporation tax	4,258	7,364
Other taxes and social security	3,933	4,617
VAT	11,188	28,223
Other creditors	14,392	12,121
Accruals and deferred income	34,107	28,980
Director's loan account	32,663	35,663

	264,208	229,823

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	24,850	996
Bank loans	-	11,667
Other loans	28,280	40,400

	53,130	53,063

11. Secured Creditors

Of the creditors the following amounts are secured by a fixed and floating charge covering all property or undertaking of the company.

	2025		2024
	£		£
Bank loans and overdrafts	2,346		-

12. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	15,530	5,974
Later than one year and not later than five years	24,850	996

	40,380	6,970

	40,380	6,970

13. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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A.F. Thomas & Sons Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Reserves

	Revaluation Reserve
	£
As at 1 April 2024	102,148

As at 31 March 2025	102,148

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