J.H. Thorp Limited - Limited company - abbreviated - 11.0.0

J.H. Thorp Limited - Limited company - abbreviated - 11.0.0

J.H. THORP LIMITED - Company Information

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REGISTERED NUMBER: 04014933















J.H. THORP LIMITED

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014






J.H. THORP LIMITED (REGISTERED NUMBER: 04014933)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014




Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 3

J.H. THORP LIMITED (REGISTERED NUMBER: 04014933)

ABBREVIATED BALANCE SHEET
31 MARCH 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 731,171 734,321

CURRENT ASSETS
Stocks 63,997 79,190
Debtors 35,920 25,812
Cash at bank and in hand 56,455 52,398
156,372 157,400
CREDITORS
Amounts falling due within one year 3 151,495 149,993
NET CURRENT ASSETS 4,877 7,407
TOTAL ASSETS LESS CURRENT
LIABILITIES
736,048
741,728

CREDITORS
Amounts falling due after more than one
year
3
(271,584		 )
(290,725		 )

PROVISIONS FOR LIABILITIES (5,380 ) (5,013 )
NET ASSETS 459,084 445,990

CAPITAL AND RESERVES
Called up share capital 4 210,000 210,000
Revaluation reserve 136,751 136,751
Profit and loss account 112,333 99,239
SHAREHOLDERS' FUNDS 459,084 445,990

The notes on pages 3 to 4 form part of these abbreviated accounts

1 continued...
J.H. THORP LIMITED (REGISTERED NUMBER: 04014933)

ABBREVIATED BALANCE SHEET - continued
31 MARCH 2014


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 17 June 2014 and were signed on its
behalf by:




T C Gibbs - Director



Mrs E R Gibbs - Director


The notes on pages 3 to 4 form part of these abbreviated accounts

2
J.H. THORP LIMITED (REGISTERED NUMBER: 04014933)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller
Entities (effective April 2008).

The preference shares and dividends have been included as equity and not as debt. The effect of this
departure from the FRSSE is that preference dividends are included in the profit and loss account as
dividends and not interest payable and the preference shares are included in the balance sheet under
capital and reserves and not creditors due after more than one year. The directors consider that the
policy adopted gives a true and fair view of the position.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 15% on 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 life of the freehold building is not likely to be materially different from the last formal
revaluation. 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
over the period of the lease.

Pensions
The company operates a defined contribution pension scheme. Contributions payable for the year are
charged in the profit and loss account.

3 continued...
J.H. THORP LIMITED (REGISTERED NUMBER: 04014933)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MARCH 2014

2. TANGIBLE FIXED ASSETS
Total
£   
COST OR VALUATION
At 1 April 2013 923,013
Additions 5,880
At 31 March 2014 928,893
DEPRECIATION
At 1 April 2013 188,692
Charge for year 9,030
At 31 March 2014 197,722
NET BOOK VALUE
At 31 March 2014 731,171
At 31 March 2013 734,321

3. CREDITORS

Creditors include an amount of £ 259,468 (2013 - £ 296,367 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014 2013
£    £   
Repayable by instalments 183,666 194,916

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
10,000 Ordinary £1 10,000 10,000
200,000 Preference £1 200,000 200,000
210,000 210,000

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

Preference shares have priority to any other class of shares on a 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 of 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.

4