J & L Thomson Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC266764 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019

FOR

J & L THOMSON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Thomson

SECRETARY:

Mrs L Thomson

REGISTERED OFFICE:

4 Charlotte Street

Fraserburgh

AB43 9JE

REGISTERED NUMBER:

SC266764 (Scotland)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

156

143,195

156

143,195

CURRENT ASSETS

Debtors

6

410

2,028

Cash at bank

57,774

2,112

58,184

4,140

CREDITORS

Amounts falling due within one year

7

258,914

259,053

NET CURRENT LIABILITIES

(200,730

)

(254,913

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(200,574

)

(111,718

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(200,674

)

(111,818

)

SHAREHOLDERS' FUNDS

(200,574

)

(111,718

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 approved by the director on 22 January 2020 and were signed by:

J Thomson - Director

1.	STATUTORY INFORMATION

J & L Thomson Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these

financial statements are rounded to the nearest pound.

Going Concern

The financial statements have been prepared on a going concern basis which assumes that the company will

continue to trade. This assumption is based upon assurances received from officers of the company that it is their

intention to provide such assistance as is required to enable the company to meet its financial commitments.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that are

considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised where the revision affects only that period, or in the

period of the revision and future periods where the revision affects both current and future periods.

The directors consider that there are no estimates and underlying assumptions which have a significant risk of

causing a material adjustment to the carrying amount of the assets and liabilities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of eight years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held in call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2018

and 30 April 2019

100,000

AMORTISATION

At 1 May 2018

and 30 April 2019

100,000

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2018

141,715

17,793

159,508

Disposals

(141,715

)

(17,194

)

(158,909

)

At 30 April 2019

-

599

599

DEPRECIATION

At 1 May 2018

-

16,313

16,313

Charge for year

-

52

52

Eliminated on disposal

-

(15,922

)

(15,922

)

At 30 April 2019

-

443

443

NET BOOK VALUE

At 30 April 2019

-

156

156

At 30 April 2018

141,715

1,480

143,195

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

410

2,028

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

258,914

259,053

8.	ULTIMATE CONTROLLING PARTY