Registration number: NI700620

Thomson Carter Limited

(Registration number: NI700620)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	2,284	-
Tangible assets	5	6,665	-
		8,949	-
Current assets
Stocks	6	1,698,710	40,275
Debtors	7	1,142,113	269,790
Cash at bank and in hand		141,542	57,803
		2,982,365	367,868
Creditors: due within one year	8	(3,849,608)	(596,462)
Net current liabilities		(867,243)	(228,594)
Net liabilities		(858,294)	(228,594)
Capital and reserves
Called up share capital	9	100	100
Retained earnings		(858,394)	(228,694)
Shareholders' deficit		(858,294)	(228,594)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 December 2025 and signed on its behalf by:
 

.............................................. Mr Connor Martin Director

.............................................. Mr Seamus O'Connor Director

Thomson Carter Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 13 Craigstown Road Industrial Estate, Craigstown Road, Randalstown, Co Antrim, BT41 2PT.

These financial statements were authorised for issue by the Board on 30 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 December 2025 was Peter Stevenson, who signed for and on behalf of Stevenson & Wilson.

Going concern

The company has incurred sizeable losses in its second period of trading which has been attributable to start-up costs incurred in the commencement, marketing and brand promotion of the company's products. The directors are pleased with the level of turnover the company has been able to achieve from a standing start, but are fully aware that this needs to convert to profitability over the short-to-medium term. Until this is achieved, the company is dependent on the continued financial support of an associated company. The directors of that company have provided reassurance that this will continue to be made available so long as the path to profitability is foreseeable. Results for the year to 31st December 2025 are encouraging with high levels of growth and a return to profitability. The accounts are therefore prepared on the going concern basis.

Thomson Carter Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Revenue derived from the sale of goods via the Company’s online platform is recognised when the performance obligation is satisfied. The is taken at the point of despatch, when the company has fulfilled its obligations and responsibilities and has supplied the goods to the courier. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Sales are subject to a standard customer right of return within a specified period and the Company is obligated to provide a refund for returned goods. The Company recognises revenue only to the amount of consideration it expects to be entitled and so makes a provision for goods which are subsequently returned. An asset is recognised for the Company's right to recover products from customers on settling the refund liability. This asset is measured at the former carrying amount of the stock, less any expected costs to recover the goods.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	15% Straight Line Method

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangible Assets	10% Straight Line Method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Thomson Carter Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 3).

Thomson Carter Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
Additions acquired separately	2,425	2,425
At 31 December 2024	2,425	2,425
Amortisation
Amortisation charge	141	141
At 31 December 2024	141	141
Carrying amount
At 31 December 2024	2,284	2,284

5	Tangible assets

	Plant & Machinery £	Total £
Cost or valuation
Additions	6,865	6,865
At 31 December 2024	6,865	6,865
Depreciation
Charge for the year	200	200
At 31 December 2024	200	200
Carrying amount
At 31 December 2024	6,665	6,665

Thomson Carter Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Stocks

	2024 £	2023 £
Stocks	1,698,710	40,275

7

Debtors

	2024 £	2023 £
Trade debtors	143,368	34,072
Amounts owed by related parties	379,196	105,864
Prepayments	337,419	-
Other debtors	282,130	129,854
	1,142,113	269,790

8

Creditors

	2024 £	2023 £
Bank overdrafts	80,138	-
Trade creditors	612,522	456,686
Amounts owed to group undertakings	2,695,605	109,218
Taxation and social security	213,063	-
Accruals and deferred income	247,051	30,558
Other creditors	1,229	-
	3,849,608	596,462

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Thomson Carter Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

10	Related party transactions

The Company has taken advantage of the exemption provisions in FRS 102 permitting non-disclosure of transactions with fellow group companies.

Key management personnel

The directors are considered to be the key management personnel of the Company. They did not receive any remuneration during the year (2023 : £Nil).

11	Parent and ultimate parent undertaking

The company's immediate parent is JAQ Group Holdings Limited, incorporated in Northern Ireland. This is both the largest and smallest group for which consolidated financial statements are prepared and which are publicy available. The company and its parent share the same registered office address.

 The ultimate controlling party is Connor Martin.