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Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
Whitings LLP
Chartered Accountants
Fenland House
15B Hostmoor Avenue
March
Cambridgeshire
PE15 0AX
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P.J. THORY LIMITED
COMPANY INFORMATION
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P.J. THORY LIMITED
CONTENTS
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P.J. THORY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The company's principal activities during the year continued to be that of haulage contractors, general building materials merchants and plant contractors.
The directors wish to present a balanced and comprehensive review of the development and performance of the business during the year and its position at the end of the year. Their review is consistent with the size and nature of the business and is written in the context of risks and uncertainties faced.
Despite challenging market conditions, the Company had a positive outcome from a business opportunity resulting in an increase in turnover and profit for the reported year. The directors are satisfied with the financial performance of the company given the continued investment in plant, equipment and its fleet and is clearly demonstrated from the increase in EBITDA compared to the previous year, rising from £2.41mil to £3.62mil in the current year. Despite these promising developments the directors remain cautious in light of the tumultuous economic and political environment which could have a negative impact on the company and the industry going forwards.
Competitive markets - The company operates in highly competitive markets, which is subject to external political factors such as high level health and safety regulations and changes in commodity prices affecting both customers and suppliers of the group. The company manages these risks by agreeing terms with its main suppliers and maintaining strong relationships with a wide range of customers by providing a range of value added services which should provide some stability.
Fuel costs - a significant cost to the company, fuel prices and supply levels can be significantly influenced by international, political and economic circumstances resulting in higher prices, increased volatility of prices, supply restrictions, shortages or interruptions which could adversely affect the company's operations. Furthermore, the company may be unable to pass these costs on to customers. The board continually monitor risk and seek out the best price possible from its suppliers to ensure that this significant cost to the company does not significantly erode margins. Driver costs - another significant cost to the company, wages rates and general availability of labour can be affected by shortages experienced as a result of macroeconomic factors. The board seek to mitigate the impact this has on the company by offering its drivers competitive remuneration packages. Regulation - the company operates in industries which are subject to numerous laws and regulations covering a wide range of matters including health & safety, employment (including working time, wages and legislation covering mandatory breaks) and other operating issues, in particular the Goods Vehicles (Licensing of Operators) Act 1995. The board have implemented operational policies and procedures to ensure compliance with existing laws and regulations, as well as implementing procedures to monitor changes. As mentioned in the business review, the directors remain cautious in light of the tumultuous economic and political environment which could have a negative impact on the company and the industry going forwards. The directors remain vigilant to how this may impact the business in the short and long term and will seek to take appropriate actions to minimise the business impact going forwards whilst continuing to meet customer demand.
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P.J. THORY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Due to the nature of trade, the directors monitor turnover, gross profit, gross margin and cash at bank as the Key Performance Indicators (KPI's) to measure performance of the company and report that:
Turnover for the year has increased by 36% (2024 - decreased by 7.6%) from £22.18mil to £30.17mil. Gross profit has increased by 61.1% (2024 - increased by 1.6%) from £3,783,801 to £6,094,954. Gross profit margin is 20.2% (2024 - 17.1%). Cash in bank at the year end totals £55,132 (2024 - £22,830).
This report was approved by the board and signed on its behalf.
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P.J. THORY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £989,653 (2024 - £139,179).
The company paid a dividend of £1,400,000 in the year (2024 - £340,000).
The directors do not recommend the payment of a final dividend for the year (2024: £NIL).
The directors who served during the year were:
There are no future developments in the Company that would require disclosure in the accounts. With the exception of those referenced within the post balance sheet events section of the Directors' Report.
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P.J. THORY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Post year end the P J Thory Group underwent a restructuring exercise leading to the company and its fellow subsidiary Gemmix Limited being demerged from the group. The ultimate parent company is now T & J Holdings Ltd.
The auditors, Whitings LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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P.J. THORY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.J. THORY LIMITED
We have audited the financial statements of P.J. Thory Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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P.J. THORY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.J. THORY LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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P.J. THORY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.J. THORY LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting frameworks (FRS 102 and Companies Act 2006) and the relevant tax compliance regulations in the jurisdictions in which the Company operates; • We communicated relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit; • We enquired of management and those charged with governance, concerning the Company's policies and procedures relating to: - the identification, evaluation and compliance with laws and regulations; and - the detection and response to the risks of fraud. • We enquired of management and those charged with governance, whether they were aware of any instances of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud; • We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Goods Vehicles (licensing of Operators) Act 1995, taxation legislation, General Data Protection Regulation, employment, health and safety legislation; • We corroborated the results of our enquires to relevant supporting documentation; • We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur and the risk of management override of controls. Audit procedures performed by the engagement team included: - evaluation of the programs and controls established to address the risks related to irregularities and fraud; - testing journal entries, in particular journal entries relating to management estimates and entries determined to be large or relating to unusual transactions; - challenging assumptions and judgements made by management in its significant accounting estimates; - identifying and testing related party transactions. • These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it; • The engagement partner’s assessment of the appropriateness of the collective competence and capabilities of
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P.J. THORY LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF P.J. THORY LIMITED (CONTINUED)
the engagement team included consideration of the engagement team's:
- understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation; - knowledge of the industry in which the client operates; - understanding of the legal and regulatory requirements specific to the Company including: - the provisions of the applicable legislation; - the regulators' rules and related guidance, including guidance issued by relevant authorities that interprets those rules; - the applicable statutory provisions. • In assessing the potential risks of material misstatement, we obtained an understanding of: - the Company's operations, including the nature of its revenue sources and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement; - the applicable statutory provisions; - the Company's control environment, including the policies and procedures implemented to comply with the requirements of its regulator, the adequacy of procedures for authorisation of transactions, internal review procedures over the Company's compliance with regulatory requirements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Fenland House
15B Hostmoor Avenue
Cambridgeshire
PE15 0AX
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P.J. THORY LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
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P.J. THORY LIMITED
REGISTERED NUMBER: 01280198
BALANCE SHEET
AS AT 31 MARCH 2025
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P.J. THORY LIMITED
REGISTERED NUMBER: 01280198
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 13 to 32 form part of these financial statements.
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P.J. THORY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
P.J. Thory Limited is a private company limited by shares. The company was incorporated in England and Wales with registration number 01280198. The registered office is White Walls, Eldernell Lane, Coates Whittlesey, Peterborough, PE7 2DD.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of P J Thory Holdings Limited as at 31 March 2025 and these financial statements may be obtained from Whitewalls, Eldernell Lane, Coates, Whittlesey, Peterborough, PE7 2DD..
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance method..
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads where applicable.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Future Site Developments a) Site works for customers – preliminary expenses incurred prior to awarding of contracts are written off when incurred in accordance with FRS 102 Paragraph 23. Subsequent costs are capitalised as work in progress and this cost, less estimated residual value, is written off over the expected life of the project in accordance with FRS 102 Paragraph 23. b) Site works carried out on own developments – preliminary expenses and other development project costs are capitalised of stocks and work in progress as incurred where there is positive expectation of eventual profit contribution and then written-off, less any estimated net residual value, over the expected life of the project in accordance with FRS 102 Paragraph 23.
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Depreciation - The company makes an estimation of each tangible fixed assets useful life and respective residual value. Depreciation is then charged to the Profit and loss account over this useful life to reflect the reduction in value. Depreciation charged to the Profit and Loss account during the year is disclosed in note 14. Revenue - Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Stocks - Due to the nature of stocks held by the company the cost is based on the best estimate of management whom have in depth knowledge of the industry, the costs factor in expenses incurred on bringing each product to its present location and condition. Stock held in the account at the year end totals £2.805m (2024 - £2.392m). Work in Progress - Included in the stock figure is work in progress representing site works carried out on the company's own developments. The project costs are capitalised as incurred where there is a positive expectation of eventual profit contribution and written off over the expected life of the project. Provisions - The Company provide for amounts within the account where there is an obligation at the reporting date as a result of a past event, where, in the opinion of management it is probable that a transfer of economic benefits will flow from the company to settle the obligation and these benefits can be estimated reliably.
The whole of the turnover is attributable to haulage contracting, general building material supply, demolition and plant contracting.
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14.Tangible fixed assets (continued)
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Bank loans are secured by fixed charges over the assets of the company.
Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Bank loans are secured by fixed charges over the assets of the company.
Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.
Interest on loans repayable in more than five years:
Bank loan - charged at 2.6% per annum over the Bank of England base rate.
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Share premium account
Profit and loss account
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £72,270 (2024 - £127,047). Contributions totaling £56,009 (2024 - £51,642) were payable to the fund at the balance sheet date and are included in creditors.
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Intercompany
Sales to fellow subsidiary companies totalled £5,873,518 (2024 - £3,127,429). Purchases from fellow subsidiary companies totalled £101,082 (2024 - £205,197). Amounts owed from fellow subsidiary companies totalled £726,766 (2024 - £348,001). Amounts owing to fellow subsidiary companies totalled £9,676 (2024 - £2,959). Sales to the company's parent totalled £18,644 (2024 - £37,175). Purchases from the company's parent totalled £2,118,880 (2024 - £190,278). Amounts owed from the company's parent totalled £Nil (2024 - £NIL). Amounts owing to the company's parent totalled £Nil (2024 - £1,863). There are cross guarantees between P J Thory Limited and the parent company relating to outstanding bank loans shown in note 21. Total outstanding at the year end totalled £2,851,349 (2024 - £467,229). Connected Companies Sales to companies under common directorship and in which the directors are shareholders totalled £229,430 (2024 - £618,688). Purchases from companies under common directorship and in which the directors are shareholders totalled £3,068,673 (2024 - £2,822,211). Amounts owed from companies under common directorship and in which the directors are shareholders totalled £12,369 (2024 - £NIL). Amounts owing to companies under common directorship and in which the directors are shareholders totalled £1,146,305 (2024 - £1,019,938). Connected Companies - continued Balance on loan owed from a company under common directorship and in which the directors are shareholders totalled £260,000 (2024 - £NIL). Interest charged in relation to this loan totalled £NIL (2024 - £7,738). Purchases from companies in which the son of one of the directors has an interest totalled £78,723 (2024 - £73,339). Amounts owing to companies in which the son of one of the directors has an interest totalled £6,162 (2024 - £6,193). Sales to companies in which the son of one of the directors has an interest totalled £73,397 (2024 - £88,046). Amounts owing from companies in which the son of one of the directors has an interest totalled £6,329 (2024 - £14,293).
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P.J. THORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Directors Balance on loans owed from the directors to the company at the year end totalled £282,386 (2024 - £169,318). Interest was charged at a commercial rate with the amounts repayable on demand. Balance on loans owed to the directors to the company at the year end totalled £8,931 (2024 - £NIL). This liability is interest free with the amounts repayable on demand. One of the directors have agreed to provide a legal charge over personal property on behalf of the company, as in the prior year. Key Management Key management personnel compensation in the period amounted to £638,761 (2024 - £667,522). Balance on loans owing to the company from key management personnel other than the directors at the year end totalled £76,498 (2024 - £83,176). Interest was charged at a commercial rate with the amounts repayable on demand.
During the financial year, the company was a subsidiary undertaking of P J Thory Holdings Limited. As detailed in the post balance sheet events note, subsequent to the year-end the group underwent a restructuring exercise. The ultimate parent company is now T & J Thory Holdings Ltd.
The ultimate controlling parties remain Mr J P Thory and Mr T D Thory, who are the directors and shareholders of T & J Thory Holdings Ltd. The largest and smallest group in which the results of the Company are consolidated is P J Thory Holdings Limited, incorporated in England and Wales. The consolidated financial statements are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
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