THORNTON'S BAKEHOUSE & BUTCHERS LIMITED


Directors	THORNTON, John Geoffrey
	THORNTON, Katie Louise


Registered Address	Thornton's Bakehouse & Butchers Chapel Street
	Easingwold
	York
	YO61 3AF


Registered Number	13668633 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

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.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	20	-
Fixtures and fittings	20	-
Vehicles	25	-
Office Equipment	-	3

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, 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 the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, 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 the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	9		8

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 25	151,328	109,272	92,324	8,545	2,956	364,425
Additions	47,216	14,080	-	1,666	-	62,962
At 31 March 26	198,544	123,352	92,324	10,211	2,956	427,387
Depreciation and impairment
At 01 April 25	7,246	41,126	31,789	4,590	2,197	86,948
Charge for year	3,760	15,792	15,135	846	365	35,898
At 31 March 26	11,006	56,918	46,924	5,436	2,562	122,846
Net book value
At 31 March 26	187,538	66,434	45,400	4,775	394	304,541
At 31 March 25	144,082	68,146	60,535	3,955	759	277,477

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	46,752	43,221
Other debtors	5,285	15,946
Prepayments and accrued income	-	2,195
Total	52,037	61,362

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Bank borrowings and overdrafts	88,510	52,954
Taxation and social security	10,760	23,756
Finance lease and HP contracts	26,200	23,154
Other creditors	109,201	71,608
Accrued liabilities and deferred income	12,473	18,106
Total	247,144	189,578


	Hire Purchase creditors are secured by the asset to which they relate.

6.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	-	2,500
Other creditors	24,859	47,488
Total	24,859	49,988


	Included in Other creditors are hire purchase liabilities of £24,859 (2025: £47,488). Assets held under hire purchase are secured against the assets to which they relate.

7.	Provisions for liabilities
	The provision for deferred tax is made up of £27,000 (2025: £26,400) in respect of accelerated capital allowances.

	2026	2025
	£	£
Net deferred tax liability (asset)	27,000	26,400
Total	27,000	26,400

8.	Pension commitments
	The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £572 (2025 - £602) were due to the fund. They are included in other creditors.

9.	Related party transactions
	During the year the director had a loan account with the company. At the balance sheet date the company owed the director £9,361 (2025 - £24,614), This loan is unsecured, interest free and repayable upon demand

10.	Description of reasons for any change in chosen formats of the financial statements
	The company has transitioned from FRS 105 to FRS 102 Section 1a reporting requirements this year. The policies applied under the entity's previous accounting framework are not materially different to FRS 102 Section 1a and have not impacted on equity or profit or loss apart from the introduction of a deferred tax provision of £27,000 (2025: £26,400).

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		304,541		277,477
			304,541		277,477
Current assets
Stocks		20,489		16,253
Debtors	4	52,037		61,362
Cash at bank and on hand		48		-
		72,574		77,615
Creditors amounts falling due within one year	5	(247,144)		(189,578)
Net current assets (liabilities)			(174,570)		(111,963)
Total assets less current liabilities			129,971		165,514
Creditors amounts falling due after one year	6		(24,859)		(49,988)
Provisions for liabilities	7		(27,000)		(26,400)
Net assets			78,112		89,126
Capital and reserves
Called up share capital			106		100
Share premium			94		-
Profit and loss account			77,912		89,026
Shareholders' funds			78,112		89,126