Thomson Gray Limited - Accounts to registrar (filleted) - small 18.2

Thomson Gray Limited - Accounts to registrar (filleted) - small 18.2


IRIS Accounts Productionv20.1.5.71SC270835Board of Directors1.1.1931.12.1931.12.19falsetruefalsefalsetruefalseiso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2708352018-12-31SC2708352019-12-31SC2708352019-01-012019-12-31SC2708352017-12-31SC2708352018-01-012018-12-31SC2708352018-12-31SC270835ns16:Scotland2019-01-012019-12-31SC270835ns15:PoundSterling2019-01-012019-12-31SC270835ns11:Director12019-01-012019-12-31SC270835ns11:PrivateLimitedCompanyLtd2019-01-012019-12-31SC270835ns11:SmallEntities2019-01-012019-12-31SC270835ns11:AuditExempt-NoAccountantsReport2019-01-012019-12-31SC270835ns11:SmallCompaniesRegimeForDirectorsReport2019-01-012019-12-31SC270835ns11:SmallCompaniesRegimeForAccounts2019-01-012019-12-31SC270835ns11:FullAccounts2019-01-012019-12-31SC270835ns11:Director22019-01-012019-12-31SC270835ns11:Director32019-01-012019-12-31SC270835ns11:Director42019-01-012019-12-31SC270835ns11:Director52019-01-012019-12-31SC270835ns11:CompanySecretary12019-01-012019-12-31SC270835ns11:RegisteredOffice2019-01-012019-12-31SC270835ns6:CurrentFinancialInstruments2019-12-31SC270835ns6:CurrentFinancialInstruments2018-12-31SC270835ns6:Non-currentFinancialInstruments2019-12-31SC270835ns6:Non-currentFinancialInstruments2018-12-31SC270835ns6:ShareCapital2019-12-31SC270835ns6:ShareCapital2018-12-31SC270835ns6:SharePremium2019-12-31SC270835ns6:SharePremium2018-12-31SC270835ns6:RetainedEarningsAccumulatedLosses2019-12-31SC270835ns6:RetainedEarningsAccumulatedLosses2018-12-31SC270835ns6:LandBuildingsns6:ShortLeaseholdAssets2019-01-012019-12-31SC270835ns6:FurnitureFittings2019-01-012019-12-31SC270835ns6:ComputerEquipment2019-01-012019-12-31SC270835ns6:LandBuildingsns6:ShortLeaseholdAssets2018-12-31SC270835ns6:FurnitureFittings2018-12-31SC270835ns6:ComputerEquipment2018-12-31SC270835ns6:LandBuildingsns6:ShortLeaseholdAssets2019-12-31SC270835ns6:FurnitureFittings2019-12-31SC270835ns6:ComputerEquipment2019-12-31SC270835ns6:LandBuildingsns6:ShortLeaseholdAssets2018-12-31SC270835ns6:FurnitureFittings2018-12-31SC270835ns6:ComputerEquipment2018-12-31SC270835ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-31SC270835ns6:CurrentFinancialInstrumentsns6:WithinOneYear2018-12-31SC270835ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2019-12-31SC270835ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2018-12-31
REGISTERED NUMBER: SC270835(Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2019

for

Thomson Gray Limited

Thomson Gray Limited (Registered number: SC270835)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Thomson Gray Limited

Company Information
for the Year Ended 31 December 2019







DIRECTORS: J S Gibson
G Gowans
S G Gray
R T Lovatt
J M Mckaig





SECRETARY: J S Gibson





REGISTERED OFFICE: Prospect House
5 Thistle Street
Edinburgh
EH2 1DF





REGISTERED NUMBER: SC270835(Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Thomson Gray Limited (Registered number: SC270835)

Statement of Financial Position
31 December 2019

31/12/19 31/12/18
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 101,384 94,434

CURRENT ASSETS
Inventories 5 288,737 287,841
Debtors 6 779,774 637,170
Cash at bank and in hand 63,742 6,865
1,132,253 931,876
CREDITORS
Amounts falling due within one year 7 584,305 556,286
NET CURRENT ASSETS 547,948 375,590
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,332

470,024

CREDITORS
Amounts falling due after more than one
year

8

-

(37,719

)

PROVISIONS FOR LIABILITIES (12,000 ) (9,500 )
NET ASSETS 637,332 422,805

CAPITAL AND RESERVES
Called up share capital 73 67
Share premium 76,479 56,979
Retained earnings 560,780 365,759
637,332 422,805

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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.

Thomson Gray Limited (Registered number: SC270835)

Statement of Financial Position - continued
31 December 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2020and were
signed on its behalf by:





S G Gray- Director


Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. STATUTORY INFORMATION

Thomson Gray Limited is a private company, limited by shares, registered in Scotland. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenant's improvements - Straight line over 10 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs
in bringing inventories to their present location and condition.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

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

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44(2018 - 35) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Tenant's and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 January 2019 60,000 51,628 52,009 163,637
Additions - 2,721 28,677 31,398
At 31 December 2019 60,000 54,349 80,686 195,035
DEPRECIATION
At 1 January 2019 16,000 21,984 31,219 69,203
Charge for year 6,000 8,034 10,414 24,448
At 31 December 2019 22,000 30,018 41,633 93,651
NET BOOK VALUE
At 31 December 2019 38,000 24,331 39,053 101,384
At 31 December 2018 44,000 29,644 20,790 94,434

5. INVENTORIES
31/12/19 31/12/18
£    £   
Work-in-progress 288,737 287,841

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/19 31/12/18
£    £   
Trade debtors 654,644 594,155
Other debtors 1,556 589
Directors' current accounts 82,693 -
Prepayments 40,881 42,426
779,774 637,170

Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/19 31/12/18
£    £   
Bank loans and overdrafts 37,719 53,261
Trade creditors 191,232 276,237
Tax 67,739 28,006
Social security and other taxes 120,843 81,155
VAT 111,022 66,600
Accrued expenses 55,750 51,027
584,305 556,286

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/19 31/12/18
£    £   
Bank loans - 1-2 years - 37,719