REGISTERED NUMBER: NI028930 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

THOMPSON AUTOMOBILES LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

G Wall

Mrs H Wall

REGISTERED OFFICE:

17 Clarendon Road

Clarendon Dock

Belfast

BT1 3BG

REGISTERED NUMBER:

NI028930 (Northern Ireland)

ACCOUNTANTS:

Baker Tilly Mooney Moore

17 Clarendon Road

Belfast

BT1 3BG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

366,847

351,060

Investment property

6

382,214

382,214

749,061

733,274

CURRENT ASSETS

Stocks

86,082

94,901

Debtors

7

1,920,855

1,992,392

Cash at bank and in hand

74,252

95,329

2,081,189

2,182,622

CREDITORS

Amounts falling due within one year

8

1,306,250

1,376,073

NET CURRENT ASSETS

774,939

806,549

TOTAL ASSETS LESS CURRENT LIABILITIES

1,524,000

1,539,823

CREDITORS

Amounts falling due after more than one year

9

(607,307

)

(651,277

)

PROVISIONS FOR LIABILITIES

(29,048

)

(23,144

)

NET ASSETS

887,645

865,402

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

887,643

865,400

SHAREHOLDERS' FUNDS

887,645

865,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 authorised for issue by the Board of Directors and authorised for issue on 28 April 2026 and were signed on its behalf by:

G Wall - Director

1.	STATUTORY INFORMATION

Thompson Automobiles Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The address of the company's place of business is 27-31 Ardoyne Road, Belfast BT14 7HX.

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.

Significant judgements and estimates

In preparing these financial statements the directors have made the following judgements:

Determine whether there are indicators of impairment of the company's intangible assets, tangible assets and investment property. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the assets and the business in general.

Consider the valuation of stock and the requirement for write down provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience and knowledge of the sector. Stock identified as impaired will be written down in value in the relevant period.

The directors also consider the depreciation and amortisation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures, fittings & equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings

All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2024

and 30 April 2025

410,799

AMORTISATION

At 1 May 2024

and 30 April 2025

410,799

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2024

363,123

402,998

766,121

Additions

-

49,270

49,270

At 30 April 2025

363,123

452,268

815,391

DEPRECIATION

At 1 May 2024

105,206

309,855

415,061

Charge for year

7,262

26,221

33,483

At 30 April 2025

112,468

336,076

448,544

NET BOOK VALUE

At 30 April 2025

250,655

116,192

366,847

At 30 April 2024

257,917

93,143

351,060

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

and 30 April 2025

382,214

NET BOOK VALUE

At 30 April 2025

382,214

At 30 April 2024

382,214

Fair value at 30 April 2025 is represented by:

£

Valuation in 2016

58,532

Cost

323,682

382,214

If the investment properties had not been revalued they would have been included at the following historical cost:

30.4.25

30.4.24

£

£

Cost

323,682

323,682

The investment properties were valued on an open market basis on 27 January 2016 by CBRE, Chartered Surveyors .

The director has considered the carrying value of the investment property and is satisfied that there has been no significant change in fair value since the last formal valuation.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Amounts owed by related parties

1,717,714

1,694,241

Other debtors

203,141

298,151

1,920,855

1,992,392

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans and overdrafts

72,832

72,832

Trade creditors

183,567

159,937

Amounts owed to related parties

935,002

1,039,592

Taxation and social security

73,399

60,321

Other creditors

41,450

43,391

1,306,250

1,376,073

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans

607,307

651,277

30.4.25

30.4.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years by installment

321,263

359,949

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.25

30.4.24

£

£

Bank loans

680,139

724,109

The loan from AIB is secured on all property known as 21 Ardoyne Road, Belfast.

The loan from Henderson Wholesale has been secured by way of a fixed and floating charge over the assets of the business including fixed assets, investments, book debt and bank deposits. The loan is also secured on all lands and premises situate and known as 21,23 and 27/31 Ardoyne Road Belfast.

11.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Eirsise Limited, a company incorporated in Northern Ireland.

The ultimate controlling parties are Mr G Wall and Mrs H Wall by virtue of their shareholding.