Company Registration No. 5696101 (England and Wales)
Thompsons Packaging Limited
Unaudited accounts
for the year ended 31 March 2018
Thompsons Packaging Limited
Unaudited accounts
Contents
Thompsons Packaging Limited
Company Information
for the year ended 31 March 2018
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
Thompsons Packaging Limited
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 2018
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 2018 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
20 July 2018
Thompsons Packaging Limited
Statement of financial position
as at 31 March 2018
Intangible assets
24,000
27,000
Tangible assets
91,510
45,173
Inventories
163,000
150,000
Cash at bank and in hand
234,769
140,907
Creditors: amounts falling due within one year
(237,693)
(144,843)
Net current assets
448,251
410,014
Total assets less current liabilities
563,761
482,187
Creditors: amounts falling due after more than one year
(60,274)
(100,000)
Net assets
503,487
382,187
Called up share capital
1,000
1,000
Profit and loss account
502,487
381,187
Shareholders' funds
503,487
382,187
For the year ending 31 March 2018 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.
Approved by the Board on 20 July 2018.
Francis Thompson
Director
Company Registration No. 5696101
Thompsons Packaging Limited
Notes to the Accounts
for the year ended 31 March 2018
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 8 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 2018
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 2018
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 2017
8,108
8,850
53,849
14,003
84,810
Additions
-
9,945
66,980
-
76,925
Disposals
-
(4,750)
(33,599)
-
(38,349)
At 31 March 2018
8,108
14,045
87,230
14,003
123,386
At 1 April 2017
3,915
6,574
20,319
8,829
39,637
Charge for the year
810
2,476
6,460
1,413
11,159
On disposals
-
(3,579)
(15,341)
-
(18,920)
At 31 March 2018
4,725
5,471
11,438
10,242
31,876
At 31 March 2018
3,383
8,574
75,792
3,761
91,510
At 31 March 2017
4,193
2,276
33,530
5,174
45,173
Finished goods
163,000
150,000
Trade debtors
282,912
257,140
Accrued income and prepayments
5,263
6,810
8
Creditors: amounts falling due within one year
2018
2017
Obligations under finance leases and hire purchase contracts
6,976
3,333
Trade creditors
117,738
75,801
Taxes and social security
39,205
38,194
Loans from directors
67,592
15,896
9
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
10,274
-
Other creditors
50,000
100,000
Thompsons Packaging Limited
Notes to the Accounts
for the year ended 31 March 2018
Allotted, called up and fully paid:
1,000 1,000 Ordinary shares at £1 each of £1 each
1,000
1,000
11
Transactions with related parties
At the year end the directors, Francis and Patricia Thompson had a credit loan balance with the company of £117,592 (2017: £115,896).
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 under the control of Francis and Patricia Thompson who own 100% of the share capital.
13
Average number of employees
During the year the average number of employees was 7 (2017: 7).
