THOMSEN LIMITED
THOMSEN LIMITED
Registered number: 2451494
Unaudited Financial Statements
For The Year Ended
31 December 2020
THOMSEN LIMITED
Unaudited Financial Statements
For The Year Ended
31 December 2020
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
THOMSEN LIMITED
Balance Sheet
As at
31 December 2020
Balance Sheet
Registered number:
2451494
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| CURRENT ASSETS | |||||
| Stocks | 7 |
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| Debtors | 8 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 9 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 88,701 | 50,799 | |||
Page 1
THOMSEN LIMITED
Balance Sheet (continued)
As at
31 December 2020
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
THOMSEN LIMITED
Notes to the Financial Statements
For The Year Ended
31 December 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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1.4.
Stocks and Work in Progress
Work in progress is valued at net realisable value.
1.5.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.7.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
Page 3
THOMSEN LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2019: 3)
6.
Tangible Assets
| Fixtures & Fittings | |
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| Cost | |
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| Depreciation | |
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| Net Book Value | |
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7.
Stocks
| 2020 | 2019 | ||
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| £ | £ | ||
| Stock - work in progress |
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8.
Debtors
| 2020 | 2019 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Amounts owed by group undertakings |
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9.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
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| £ | £ | ||
| Corporation tax |
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| VAT |
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| Accruals and deferred income |
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| Amounts owed to group undertakings |
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Page 4
THOMSEN LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2020
11.
Ultimate Parent Undertaking and Controlling Party
The company is a wholly owned subsidiary of FT Management ApS, Statsautoriseret Revisionsfirma, a company incorporated in Denmark.
The ultimate parent undertaking is NMT Management, Statautoriseret Revisionsanpartsselskab, a company incorporated in Denmark.
The largest Group of undertakings for which Group accounts have been drawn up is that headed by NMT Management, Statautoriseret Revisionsanpartsselskab, which is incorporated in Denmark and the smallest such Group of undertakings including the company is that headed by FT Management ApS, Statsautoriseret Revisionsfirma,which is incorporated in Denmark.
The ultimate controlling party is Mr Frans Thomsen, Danish State Authorised Public Accountant, by means of his control of the ultimate parent undertaking NMT Management, Statautoriseret Revisionsanpartsselskab.
12.
General Information
THOMSEN LIMITED
Registered number
2451494
is a limited by shares company incorporated in England & Wales. The Registered Office is 41 St Peters Road, Croydon, CR0 1HN.
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