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COMPANY REGISTRATION NUMBER: 08838143
Thrive Energy Limited
Filleted Unaudited Financial Statements
31 January 2023
Thrive Energy Limited
Financial Statements
Year ended 31 January 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Thrive Energy Limited
Officers and Professional Advisers
The board of directors
Mr P A Comrie
Mr T P B Hickey
Registered office
40 Salcott Road
London
England
United Kingdom
SW11 6DE
Accountants
Edmund Carr LLP
Chartered Accountants
146 New London Road
Chelmsford
Essex
CM2 0AW
Thrive Energy Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,583
2,360
Current assets
Debtors
6
34,160
49,350
Cash at bank and in hand
235,472
135,529
---------
---------
269,632
184,879
Creditors: amounts falling due within one year
7
67,119
43,214
---------
---------
Net current assets
202,513
141,665
---------
---------
Total assets less current liabilities
205,096
144,025
---------
---------
Net assets
205,096
144,025
---------
---------
Capital and reserves
Called up share capital
8
3,000
3,000
Profit and loss account
202,096
141,025
---------
---------
Shareholders funds
205,096
144,025
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Thrive Energy Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 19 October 2023 , and are signed on behalf of the board by:
Mr P A Comrie
Mr T P B Hickey
Director
Director
Company registration number: 08838143
Thrive Energy Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Salcott Road, London, England, SW11 6DE, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 February 2022
5,926
5,926
Additions
1,055
1,055
-------
-------
At 31 January 2023
6,981
6,981
-------
-------
Depreciation
At 1 February 2022
3,566
3,566
Charge for the year
832
832
-------
-------
At 31 January 2023
4,398
4,398
-------
-------
Carrying amount
At 31 January 2023
2,583
2,583
-------
-------
At 31 January 2022
2,360
2,360
-------
-------
6. Debtors
2023
2022
£
£
Trade debtors
34,160
49,350
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
193
156
Accruals and deferred income
1,945
1,975
Corporation tax
51,991
28,322
Social security and other taxes
9,065
9,475
Director loan accounts
3,925
3,286
--------
--------
67,119
43,214
--------
--------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
A Ordinary shares of £ 1 each
1,500
1,500
1,500
1,500
B Ordinary shares of £ 1 each
1,500
1,500
1,500
1,500
-------
-------
-------
-------
3,000
3,000
3,000
3,000
-------
-------
-------
-------
9. Related party transactions
At the year end the company owe the directors £3,925 (2022: £3,286) in the form of a loan account. This loan, which is shown amongst creditors, is interest free and repayable on demand.