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REGISTERED NUMBER: 09586712 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

THPB LTD

THPB LTD (REGISTERED NUMBER: 09586712)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


THPB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: E Ranson-Bellamy





REGISTERED OFFICE: SNOB
8 Gold Street
Tiverton
Devon
EX16 6PZ





REGISTERED NUMBER: 09586712 (England and Wales)





ACCOUNTANTS: Sheppard Rockey & Williams Ltd
Sannerville Chase
Exminster
Exeter
Devon
EX6 8AT

THPB LTD (REGISTERED NUMBER: 09586712)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,000 10,500
Tangible assets 5 387,418 391,393
394,418 401,893

CURRENT ASSETS
Stocks 30,000 30,000
Debtors 6 16,614 15,873
Cash at bank 4,880 25,366
51,494 71,239
CREDITORS
Amounts falling due within one year 7 125,895 132,400
NET CURRENT LIABILITIES (74,401 ) (61,161 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,017

340,732

CREDITORS
Amounts falling due after more than one
year

8

(199,072

)

(227,494

)

PROVISIONS FOR LIABILITIES (696 ) (1,377 )
NET ASSETS 120,249 111,861

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 119,249 110,861
SHAREHOLDERS' FUNDS 120,249 111,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

THPB LTD (REGISTERED NUMBER: 09586712)

BALANCE SHEET - continued
31 MAY 2023


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 director and authorised for issue on 20 February 2024 and were signed by:





E Ranson-Bellamy - Director


THPB LTD (REGISTERED NUMBER: 09586712)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

THPB Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. Turnover is generated from both retail and online sales.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and equipment - 15% on cost
Computer equipment - 25% on cost

Freehold property is not depreciated since in the opinion of the director the amount would be immaterial owing to the residual value of the property. This is a departure from Financial Reporting Standard 102 1A (the requirement to depreciate an asset over its useful economic life).

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

THPB LTD (REGISTERED NUMBER: 09586712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

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.

Going concern
The accounts have been prepared on a going concern basis. The director has confirmed they will provide sufficient funding to enable the company to continue trading for at least one year from the date of approval of these accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 35,000
AMORTISATION
At 1 June 2022 24,500
Amortisation for year 3,500
At 31 May 2023 28,000
NET BOOK VALUE
At 31 May 2023 7,000
At 31 May 2022 10,500

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 381,982 17,208 10,584 6,608 416,382
Additions - - - 1,165 1,165
At 31 May 2023 381,982 17,208 10,584 7,773 417,547
DEPRECIATION
At 1 June 2022 - 14,819 5,292 4,878 24,989
Charge for year - 1,470 2,646 1,024 5,140
At 31 May 2023 - 16,289 7,938 5,902 30,129
NET BOOK VALUE
At 31 May 2023 381,982 919 2,646 1,871 387,418
At 31 May 2022 381,982 2,389 5,292 1,730 391,393

THPB LTD (REGISTERED NUMBER: 09586712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 9,094 7,331
Other debtors 7,520 8,542
16,614 15,873

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 39,608 40,062
Trade creditors 19,837 30,949
Taxation and social security 10,298 11,261
Other creditors 56,152 50,128
125,895 132,400

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 199,072 227,494

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 64,122 82,998

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.23 31.5.22
£    £   
Within one year 12,500 12,500
Between one and five years 4,167 16,667
16,667 29,167

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 208,681 227,557

The bank loans are secured by fixed charges dated 28 July 2016 and 12 December 2017 respectively and floating charge dated 27 July 2016, over the company's freehold properties.

THPB LTD (REGISTERED NUMBER: 09586712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
500 Ordinary A £1 500 500
250 Ordinary B £1 250 250
250 Ordinary C £1 250 250
1,000 1,000

12. RELATED PARTY DISCLOSURES

Included in other creditors is a loan from the director of £35,406 (2022 - £27,777). The loan is unsecured, repayable on demand and subject to a commercial rate of interest.