Thomasons Funeral Services Limited Filleted accounts for Companies House (small and micro)

THOMASONS FUNERAL SERVICES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04882753

Thomasons Funeral Services Limited

Filleted Unaudited Financial Statements

31 January 2023

Thomasons Funeral Services Limited

Balance Sheet

31 January 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	5		126,054		96,993

Current assets

Stocks		6,000	6,000
Debtors	6	110,504	41,722
Cash at bank and in hand		27,820	42,679
		---------	--------
		144,324	90,401

Creditors: amounts falling due within one year	7	( 152,830)		( 138,705)
		---------		---------
Net current liabilities			( 8,506)		( 48,304)
			---------		--------
Total assets less current liabilities			117,548		48,689

Creditors: amounts falling due after more than one year	8		( 44,488)		( 30,267)

Provisions	( 20,494)	( 14,549)
	---------	--------
Net assets	52,566	3,873
	---------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	52,564	3,871
	--------	-------
Shareholders funds	52,566	3,873
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Thomasons Funeral Services Limited

Balance Sheet (continued)

31 January 2023

These financial statements were approved by the board of directors and authorised for issue on 27 September 2023 , and are signed on behalf of the board by:

Mrs T E Thomason	Mr P M Thomason
Director	Director

Company registration number: 04882753

Thomasons Funeral Services Limited

Notes to the Financial Statements

Year ended 31 January 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 137 Easterly Road, Leeds, West Yorkshire, LS8 2RY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	5% reducing balance
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	10% reducing balance
Motor vehicles	-	10% or 25% reducing balance
Computer equipment	-	33% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans from banks and other third parties.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2022: 7 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Computer equipment	Total
	£	£	£	£	£	£
Cost
At 1 Feb 2022	23,619	35,483	65,563	191,414	1,316	317,395
Additions	–	2,842	–	45,576	–	48,418
	--------	--------	--------	---------	-------	---------
At 31 Jan 2023	23,619	38,325	65,563	236,990	1,316	365,813
	--------	--------	--------	---------	-------	---------
Depreciation
At 1 Feb 2022	12,479	13,716	44,470	149,006	731	220,402
Charge for the year	557	3,549	2,110	12,946	195	19,357
	--------	--------	--------	---------	-------	---------
At 31 Jan 2023	13,036	17,265	46,580	161,952	926	239,759
	--------	--------	--------	---------	-------	---------
Carrying amount
At 31 Jan 2023	10,583	21,060	18,983	75,038	390	126,054
	--------	--------	--------	---------	-------	---------
At 31 Jan 2022	11,140	21,767	21,093	42,408	585	96,993
	--------	--------	--------	---------	-------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 January 2023	48,897
	--------
At 31 January 2022	17,156
	--------

6. Debtors

	2023	2022
	£	£
Trade debtors	106,004	37,222
Other debtors	4,500	4,500
	---------	--------
	110,504	41,722
	---------	--------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	39,892	8,000
Trade creditors	29,194	42,830
Social security and other taxes	45,864	61,484
Directors current account	457	222
Other creditors	37,423	26,169
	---------	---------
	152,830	138,705
	---------	---------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	18,667	26,667
Other creditors	25,821	3,600
	--------	--------
	44,488	30,267
	--------	--------