THOMAS RECOVERY LTD

THOMAS RECOVERY LTD

THOMAS RECOVERY LTD - Company Information

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THOMAS RECOVERY LTD

Company Registration Number:
05141108 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2021

Period of accounts

Start date: 01 June 2020

End date: 31 May 2021

THOMAS RECOVERY LTD

Contents of the Financial Statements

for the Period Ended 31 May 2021

Balance sheet
Notes

THOMAS RECOVERY LTD

Balance sheet

As at 31 May 2021


Notes
2021
2020


£
£
Fixed assets
Intangible assets: 3 5,250 7,000
Tangible assets: 4 7,153 12,296
Total fixed assets: 12,403 19,296
Current assets
Debtors:   69,440 36,670
Cash at bank and in hand: 131 11,145
Total current assets: 69,571 47,815
Creditors: amounts falling due within one year: 5 (51,438) (36,317)
Net current assets (liabilities): 18,133 11,498
Total assets less current liabilities: 30,536 30,794
Creditors: amounts falling due after more than one year: 6 (30,000) (30,000)
Total net assets (liabilities): 536 794
Capital and reserves
Called up share capital: 125 125
Profit and loss account: 411 669
Shareholders funds: 536 794

The notes form part of these financial statements

THOMAS RECOVERY LTD

Balance sheet statements

For the year ending 31 May 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 January 2022
and signed on behalf of the board by:

Name: Mr P Thomas
Status: Director

The notes form part of these financial statements

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Plant & machinery 20% per annum on costMotor vehicles 20% per annum on cost

Intangible fixed assets and amortisation policy

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

Other accounting policies

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

2. Employees

2021 2020
Average number of employees during the period 6 6

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

3. Intangible Assets

Total
Cost £
At 01 June 2020 35,000
At 31 May 2021 35,000
Amortisation
At 01 June 2020 28,000
Charge for year 1,750
At 31 May 2021 29,750
Net book value
At 31 May 2021 5,250
At 31 May 2020 7,000

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

4. Tangible Assets

Total
Cost £
At 01 June 2020 36,182
At 31 May 2021 36,182
Depreciation
At 01 June 2020 23,886
Charge for year 5,143
At 31 May 2021 29,029
Net book value
At 31 May 2021 7,153
At 31 May 2020 12,296

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

5. Creditors: amounts falling due within one year note

Bank loans and overdraft £24,570 (2020: £nil)Taxation and social security £25,368 (2020: £32,201)Other creditors £1,500 (2020:£4,116)

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

6. Creditors: amounts falling due after more than one year note

Bank loans and overdraft £30,000 (2020: £30,000)

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

7. Financial commitments

As at 31 May 2021 the company has annual commitments under non cancellable operating leases as set out below:Expiring within 1 year £8,110 (2020:£5,550)Expiring in 2 to 5 years £22,558 (2020:£13,517)

THOMAS RECOVERY LTD

Notes to the Financial Statements

for the Period Ended 31 May 2021

8. Loans to directors

Name of director receiving advance or credit: Mr P Thomas
Description of the loan: Loan
£
Balance at 01 June 2020 3,685
Advances or credits made: 23,242
Balance at 31 May 2021 26,927