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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2017 |
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P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2017 |
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FOR |
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P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED |
P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED (REGISTERED NUMBER: 00892423) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Report of the Accountants | 7 |
P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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4 Clifton Road |
Clifton |
Bristol |
BS8 1AG |
P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED (REGISTERED NUMBER: 00892423) |
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BALANCE SHEET |
31 JULY 2017 |
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31.7.17 | 31.7.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 |
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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. |
P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED (REGISTERED NUMBER: 00892423) |
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BALANCE SHEET - continued |
31 JULY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED (REGISTERED NUMBER: 00892423) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
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1. | STATUTORY INFORMATION |
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P Thorne & Son (Safes and Security Systems ) Limited is a
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registered in England and Wales. The company's registered number and registered office address can |
be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Going concern |
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The company is reliant upon the support of the directors. The directors have given their assurance that |
they are both willing and able to continue supporting the company's foreseeable future and therefore |
the accounts have been prepared on a going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Leasehold property | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED (REGISTERED NUMBER: 00892423) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable |
profits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Leasehold |
property |
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COST |
At 1 August 2016 |
and 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Trade debtors |
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Other debtors |
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P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED (REGISTERED NUMBER: 00892423) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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During the year the company
Thorne Holdings Limited
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the parent company of P Thorne & Son (Safes and Security Services) Limited
maintained an inter-company loan account
. The amount owed
to the parent company at the year end and included in creditors was £307,600 ( 2016 - £301,535). |
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The Director A Thorne maintained a directors loan account with the company during the year. The |
balance owed to the A Thorne at the year end was £5,233. |
P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED |
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REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
P THORNE & SON (SAFES AND SECURITY |
SYSTEMS ) LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain |
other primary statements and the Report of the Directors are not required to be filed with the |
Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2017 set out on pages three to eight and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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4 Clifton Road |
Clifton |
Bristol |
BS8 1AG |
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