A Thompson Jnr Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC491489 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

A THOMPSON JNR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mrs K Thompson

Mr A M Thompson

SECRETARY:

Mrs K Thompson

REGISTERED OFFICE:

Unit 8

South Harbour Road

Fraserburgh

AB43 9TA

REGISTERED NUMBER:

SC491489 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

28 Broad Street

Peterhead

Aberdeenshire

AB42 1BY

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

68,996

43,425

68,996

43,425

CURRENT ASSETS

Stocks

20,332

92,458

Debtors

5

586,794

436,452

Cash at bank

636,031

512,857

1,243,157

1,041,767

CREDITORS

Amounts falling due within one year

6

616,265

506,261

NET CURRENT ASSETS

626,892

535,506

TOTAL ASSETS LESS CURRENT LIABILITIES

695,888

578,931

PROVISIONS FOR LIABILITIES

13,109

5,257

NET ASSETS

682,779

573,674

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

681,779

572,674

SHAREHOLDERS' FUNDS

682,779

573,674

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 approved by the Board of Directors and authorised for issue on 28 July 2020 and were signed on its behalf by:

Mr A M Thompson - Director

1.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

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

-

20% on reducing balance

Stocks

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

items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 8 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2019

and 31 January 2020

11,000

AMORTISATION

At 1 February 2019

and 31 January 2020

11,000

NET BOOK VALUE

At 31 January 2020

-

At 31 January 2019

-

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2019

84,889

Additions

69,400

Disposals

(48,634

)

At 31 January 2020

105,655

DEPRECIATION

At 1 February 2019

41,464

Charge for year

17,249

Eliminated on disposal

(22,054

)

At 31 January 2020

36,659

NET BOOK VALUE

At 31 January 2020

68,996

At 31 January 2019

43,425

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

551,504

390,607

Loan - Fraserburgh Freezing

17,120

17,120

VAT

14,394

24,935

Prepayments

3,776

3,790

586,794

436,452

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

116,942

26,266

Taxation

27,686

51,537

Social security and other taxes

4,198

2,089

Directors' current accounts

461,787

421,787

Accruals

5,652

4,582

616,265

506,261

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 January 2020 and 31 January 2019:

2020

2019

£

£

Mr A M Thompson and Mrs K Thompson

Balance outstanding at start of year

421,787

551,222

Amounts advanced

40,000

40,565

Amounts repaid

-

(170,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

461,787

421,787

The loan is interest free and there are no fixed terms of repayment.