J.H._THORP_LTD - Accounts

J.H. THORP LIMITED - Company Information

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Company Registration No. 04014933 (England and Wales)

J.H. THORP LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

J.H. THORP LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

J.H. THORP LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

728,039

725,673

Current assets

Stocks

64,812

64,740

Debtors

40,394

57,203

Cash at bank and in hand

49,707

54,179

154,913

176,122

Creditors: amounts falling due within one year

(150,494)

(181,815)

Net current assets/(liabilities)

4,419

(5,693)

Total assets less current liabilities

732,458

719,980

Creditors: amounts falling due after more than one year

(275,099)

(243,179)

Provisions for liabilities

(7,416)

(6,461)

449,943

470,340

Capital and reserves

Called up share capital

210,000

Revaluation reserve

136,751

Profit and loss account

103,192

123,589

Shareholders' funds

449,943

470,340

J.H. THORP LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 26 May 2016

Mr T C Gibbs

Mrs E R Gibbs

Director

Company Registration No. 04014933

J.H. THORP LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

As below

Plant and machinery

15% reducing balance

Depreciation on freehold land and buildings has not been provided. The accounts regulations drawn up under the Companies Act 2006 require that provision be made for depreciation of assets having a finite useful life. However, the directors are of the opinion that the residual value at the end of the estimated useful life of the freehold building is not likely to be materially different from the last formal valuation. This is because the company's policy is to maintain the freehold building in such condition that its value is not diminished by the passage of time and the relevant expenditure is charged to profit before tax in the period in which it is incurred. Therefore any element of depreciation is considered to be immaterial and no provision is made.

1.5

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

J.H. THORP LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2015

931,543

Additions

12,369

At 31 March 2016

943,912

Depreciation

At 1 April 2015

205,870

Charge for the year

10,003

At 31 March 2016

215,873

Net book value

At 31 March 2016

728,039

At 31 March 2015

725,673

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

169,210

181,352

Share capital

2016

2015

Allotted, called up and fully paid

10,000 Ordinary of £1 each

10,000

200,000 Preference of £1 each

200,000

210,000

The preference shares are attributable to non-equity interests and are 5% noncumulative redeemable preference shares of £1 each.

Preference shares have priority to any other class of shares on winding up, in paying to them pari passu the capital paid. They shall not confer the right to any further or other participation in the profits or assets off the company.

Preference shares carry no voting rights and are redeemable at the company's or shareholder's option in accordance with the company's Articles of Association.

J.H. THORP LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 5 -

Related party relationships and transactions

Loans from Directors'

Transactions in relation to loans from directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr & Mrs Gibbs

33,868

71,116

36,731

68,253

33,868

71,116

36,731

68,253