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

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


IRIS Accounts Productionv18.2.1.62SC270835Board of Directors1.1.1731.12.1731.12.17falsetruefalsefalsetruefalseiso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2708352016-12-31SC2708352017-12-31SC2708352017-01-012017-12-31SC2708352015-12-31SC2708352016-01-012016-12-31SC2708352016-12-31SC270835ns15:Scotland2017-01-012017-12-31SC270835ns14:PoundSterling2017-01-012017-12-31SC270835ns10:Director12017-01-012017-12-31SC270835ns10:PrivateLimitedCompanyLtd2017-01-012017-12-31SC270835ns10:SmallEntities2017-01-012017-12-31SC270835ns10:AuditExempt-NoAccountantsReport2017-01-012017-12-31SC270835ns10:SmallCompaniesRegimeForDirectorsReport2017-01-012017-12-31SC270835ns10:SmallCompaniesRegimeForAccounts2017-01-012017-12-31SC270835ns10:FullAccounts2017-01-012017-12-31SC270835ns10:Director22017-01-012017-12-31SC270835ns10:Director32017-01-012017-12-31SC270835ns10:Director42017-01-012017-12-31SC270835ns10:Director52017-01-012017-12-31SC270835ns10:CompanySecretary12017-01-012017-12-31SC270835ns10:RegisteredOffice2017-01-012017-12-31SC270835ns5:CurrentFinancialInstruments2017-12-31SC270835ns5:CurrentFinancialInstruments2016-12-31SC270835ns5:Non-currentFinancialInstruments2017-12-31SC270835ns5:Non-currentFinancialInstruments2016-12-31SC270835ns5:ShareCapital2017-12-31SC270835ns5:ShareCapital2016-12-31SC270835ns5:SharePremium2017-12-31SC270835ns5:SharePremium2016-12-31SC270835ns5:RetainedEarningsAccumulatedLosses2017-12-31SC270835ns5:RetainedEarningsAccumulatedLosses2016-12-31SC270835ns5:LandBuildingsns5:ShortLeaseholdAssets2017-01-012017-12-31SC270835ns5:FurnitureFittings2017-01-012017-12-31SC270835ns5:ComputerEquipment2017-01-012017-12-31SC270835ns5:LandBuildingsns5:ShortLeaseholdAssets2016-12-31SC270835ns5:FurnitureFittings2016-12-31SC270835ns5:ComputerEquipment2016-12-31SC270835ns5:LandBuildingsns5:ShortLeaseholdAssets2017-12-31SC270835ns5:FurnitureFittings2017-12-31SC270835ns5:ComputerEquipment2017-12-31SC270835ns5:LandBuildingsns5:ShortLeaseholdAssets2016-12-31SC270835ns5:FurnitureFittings2016-12-31SC270835ns5:ComputerEquipment2016-12-31SC270835ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-12-31SC270835ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-12-31SC270835ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2017-12-31SC270835ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2016-12-31
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REGISTERED NUMBER: SC270835(Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2017

for

Thomson Gray Limited

Thomson Gray Limited (Registered number: SC270835)






Contents of the Financial Statements
for the Year Ended 31 December 2017

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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 2017







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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 2017

31/12/17 31/12/16
Notes £    £    £    £   
DRAFT
FIXED ASSETS
Property, plant and equipment 4 94,421 101,908

CURRENT ASSETS
Inventories 5 264,805 196,439
Debtors 6 623,969 511,543
Cash at bank and in hand 15,073 21,007
903,847 728,989
CREDITORS
Amounts falling due within one year 7 539,767 471,867
NET CURRENT ASSETS 364,080 257,122
TOTAL ASSETS LESS CURRENT
LIABILITIES

458,501

359,030

CREDITORS
Amounts falling due after more than one
year

8

(90,975

)

(77,811

)

PROVISIONS FOR LIABILITIES (8,000 ) (14,258 )
NET ASSETS 359,526 266,961

CAPITAL AND RESERVES
Called up share capital 65 62
Share premium 52,480 43,483
Retained earnings 306,981 223,416
359,526 266,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 2017

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The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 20 September 2018and 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 2017
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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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.

Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017
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3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34(2016 - 27) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Tenant's and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 January 2017 60,000 38,215 33,025 131,240
Additions - 373 12,168 12,541
At 31 December 2017 60,000 38,588 45,193 143,781
DEPRECIATION
At 1 January 2017 4,000 7,144 18,188 29,332
Charge for year 6,000 7,853 6,175 20,028
At 31 December 2017 10,000 14,997 24,363 49,360
NET BOOK VALUE
At 31 December 2017 50,000 23,591 20,830 94,421
At 31 December 2016 56,000 31,071 14,837 101,908

5. INVENTORIES
31/12/17 31/12/16
£    £   
Work-in-progress 264,805 196,439

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/17 31/12/16
£    £   
Trade debtors 584,662 475,737
Other debtors 4,109 1,391
Prepayments 35,198 34,415
623,969 511,543

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/17 31/12/16
£    £   
Bank loans and overdrafts 50,102 25,236
Trade creditors 191,524 146,424
Tax 32,589 41,799
Social security and other taxes 83,967 75,088
VAT 83,853 115,586
Accrued expenses 97,732 67,734
539,767 471,867

Thomson Gray Limited (Registered number: SC270835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017
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8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/17 31/12/16
£    £   
Bank loans - 1-2 years 90,975 77,811