Company Registration No. 5696101 (England and Wales)
Thompsons Packaging Limited
Unaudited accounts
for the year ended 31 March 2023
Thompsons Packaging Limited
Unaudited accounts
Contents
Thompsons Packaging Limited
Company Information
for the year ended 31 March 2023
Directors
Francis Thompson
Patricia Thompson
Richard Thompson
Robert Thompson
Secretary
Patricia Thompson
Company Number
5696101 (England and Wales)
Registered Office
Unit 9, Drumhead Road
Chorley North Industrial Park
Chorley
Lancashire
PR6 7BX
Accountants
Clare & Co
The Stables, Withnell Fold
Withnell
Chorley
Lancashire
PR6 8AZ
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Thompsons Packaging Limited for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Thompsons Packaging Limited for the year ended
31 March 2023 as set out on pages
5 -
9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Clare & Co
Chartered Accountants
The Stables, Withnell Fold
Withnell
Chorley
Lancashire
PR6 8AZ
25 July 2023
Thompsons Packaging Limited
Statement of financial position
as at 31 March 2023
Intangible assets
9,000
12,000
Tangible assets
96,775
70,459
Inventories
247,446
230,000
Cash at bank and in hand
248,960
305,371
Creditors: amounts falling due within one year
(266,465)
(226,310)
Net current assets
568,952
639,586
Total assets less current liabilities
674,727
722,045
Creditors: amounts falling due after more than one year
(23,518)
(33,518)
Net assets
651,209
688,527
Called up share capital
100
100
Profit and loss account
651,109
688,427
Shareholders' funds
651,209
688,527
For the year ending 31 March 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2023 and were signed on its behalf by
Francis Thompson
Director
Company Registration No. 5696101
Thompsons Packaging Limited
Notes to the Accounts
for the year ended 31 March 2023
Thompsons Packaging Limited is a private company, limited by shares, registered in England and Wales, registration number 5696101. The registered office is Unit 9, Drumhead Road, Chorley North Industrial Park, Chorley, Lancashire, PR6 7BX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the invoiced value of goods, excluding value added tax.
Goodwill being the amount paid in connection with the acquisition of a business in 2006 is being written off evenly over its estimated useful life of twenty years, with 4 years remaining.
Tangible fixed assets policy
Tangible fixed assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office equipment 25% reducing balance basis
Motor vehicles 15% reducing balance basis
Plant and machinery 25% reducing balance basis
Leasehold improvements over 10 years
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Thompsons Packaging Limited
Notes to the Accounts
for the year ended 31 March 2023
Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill
Thompsons Packaging Limited
Notes to the Accounts
for the year ended 31 March 2023
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
11,538
19,506
112,130
21,352
164,526
Additions
4,385
-
-
34,883
39,268
At 31 March 2023
15,923
19,506
112,130
56,235
203,794
At 1 April 2022
9,337
13,412
54,478
16,840
94,067
Charge for the year
1,153
1,523
8,648
1,628
12,952
At 31 March 2023
10,490
14,935
63,126
18,468
107,019
At 31 March 2023
5,433
4,571
49,004
37,767
96,775
At 31 March 2022
2,201
6,094
57,652
4,512
70,459
Amounts falling due within one year
Trade debtors
329,100
324,950
Accrued income and prepayments
9,641
5,515
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,649
10,649
Trade creditors
175,518
157,641
Taxes and social security
38,754
32,249
Loans from directors
34,174
22,146
8
Creditors: amounts falling due after more than one year
2023
2022
The company has a Bounce Back Loan which is unsecured.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Thompsons Packaging Limited
Notes to the Accounts
for the year ended 31 March 2023
10
Transactions with related parties
At the year end the directors had a credit loan balance with the company of £34,174 (2022: £22,146).
The company operates from a property owned by the directors, Francis and Patricia Thompson. During the year the company was charged rent of £36,600 on normal commercial terms.
The company is a subsidiary of Bob & Dick Holdings Limited, a company under the control of the directors who own 100% of the share capital.
12
Average number of employees
During the year the average number of employees was 9 (2022: 9).
