IRIS Accounts Production v23.3.0.418 07681973 Board of Directors Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076819732022-06-30076819732023-06-30076819732022-07-012023-06-30076819732021-06-30076819732021-07-012022-06-30076819732022-06-3007681973ns10:Originalns15:EnglandWales2022-07-012023-06-3007681973ns14:PoundSterlingns10:Original2022-07-012023-06-3007681973ns10:Originalns10:Director12022-07-012023-06-3007681973ns10:Original2022-07-012023-06-3007681973ns10:Originalns10:Director22022-07-012023-06-3007681973ns10:Original2023-06-3007681973ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3007681973ns10:Originalns10:SmallEntities2022-07-012023-06-3007681973ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3007681973ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3007681973ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3007681973ns10:Originalns10:FullAccounts2022-07-012023-06-3007681973ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3007681973ns10:CompanySecretary1ns10:Original2022-07-012023-06-3007681973ns10:Originalns10:RegisteredOffice2022-07-012023-06-3007681973ns10:Original2022-06-3007681973ns10:Originalns5:CurrentFinancialInstruments2023-06-3007681973ns10:Originalns5:CurrentFinancialInstruments2022-06-3007681973ns10:Originalns5:Non-currentFinancialInstruments2023-06-3007681973ns10:Originalns5:Non-currentFinancialInstruments2022-06-3007681973ns5:ShareCapitalns10:Original2023-06-3007681973ns5:ShareCapitalns10:Original2022-06-3007681973ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3007681973ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3007681973ns10:Originalns5:PlantMachinery2022-07-012023-06-3007681973ns10:Originalns5:MotorVehicles2022-07-012023-06-3007681973ns10:Originalns5:ComputerEquipment2022-07-012023-06-3007681973ns10:Original2021-07-012022-06-3007681973ns10:Originalns5:PlantMachinery2022-06-3007681973ns10:Originalns5:FurnitureFittings2022-06-3007681973ns10:Originalns5:MotorVehicles2022-06-3007681973ns10:Originalns5:ComputerEquipment2022-06-3007681973ns10:Original2022-06-3007681973ns10:Originalns5:FurnitureFittings2022-07-012023-06-3007681973ns10:Originalns5:PlantMachinery2023-06-3007681973ns10:Originalns5:FurnitureFittings2023-06-3007681973ns10:Originalns5:MotorVehicles2023-06-3007681973ns10:Originalns5:ComputerEquipment2023-06-3007681973ns10:Originalns5:PlantMachinery2022-06-3007681973ns10:Originalns5:FurnitureFittings2022-06-3007681973ns10:Originalns5:MotorVehicles2022-06-3007681973ns10:Originalns5:ComputerEquipment2022-06-3007681973ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-06-3007681973ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-07-012023-06-3007681973ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-3007681973ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-06-3007681973ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3007681973ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3007681973ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3007681973ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-06-3007681973ns10:Originalns10:OrdinaryShareClass12023-06-30
REGISTERED NUMBER: 07681973 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

THORFIRE LTD

THORFIRE LTD (REGISTERED NUMBER: 07681973)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THORFIRE LTD

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: A Ashton
N Thorley





SECRETARY: R Ashton





REGISTERED OFFICE: Enterprise House
2 Pass Street
Oldham
Lancashire
OL9 6HZ





REGISTERED NUMBER: 07681973 (England and Wales)





ACCOUNTANTS: BP & Co Chartered Accountants
Enterprise House
2 Pass Street
Oldham
Lancashire
OL9 6HZ

THORFIRE LTD (REGISTERED NUMBER: 07681973)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 153,675 113,313

CURRENT ASSETS
Stocks 10,000 23,000
Debtors 5 568,199 440,372
Cash at bank and in hand 45,600 29,416
623,799 492,788
CREDITORS
Amounts falling due within one year 6 (283,025 ) (218,209 )
NET CURRENT ASSETS 340,774 274,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

494,449

387,892

CREDITORS
Amounts falling due after more than one
year

7

(186,462

)

(137,199

)

PROVISIONS FOR LIABILITIES (1,781 ) (1,781 )
NET ASSETS 306,206 248,912

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 306,204 248,910
SHAREHOLDERS' FUNDS 306,206 248,912

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

THORFIRE LTD (REGISTERED NUMBER: 07681973)

BALANCE SHEET - continued
30 June 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 Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:




A Ashton - Director



N Thorley - Director


THORFIRE LTD (REGISTERED NUMBER: 07681973)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Thorfire 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.

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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

THORFIRE LTD (REGISTERED NUMBER: 07681973)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 5,542 3,926 190,671 21,405 221,544
Additions 1,588 995 111,684 - 114,267
Disposals - - (65,821 ) - (65,821 )
At 30 June 2023 7,130 4,921 236,534 21,405 269,990
DEPRECIATION
At 1 July 2022 4,017 589 90,440 13,185 108,231
Charge for year 623 650 28,357 4,049 33,679
Eliminated on disposal - - (25,595 ) - (25,595 )
At 30 June 2023 4,640 1,239 93,202 17,234 116,315
NET BOOK VALUE
At 30 June 2023 2,490 3,682 143,332 4,171 153,675
At 30 June 2022 1,525 3,337 100,231 8,220 113,313

THORFIRE LTD (REGISTERED NUMBER: 07681973)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 151,094
Additions 108,283
Disposals (65,821 )
At 30 June 2023 193,556
DEPRECIATION
At 1 July 2022 63,245
Charge for year 27,864
Eliminated on disposal (25,595 )
At 30 June 2023 65,514
NET BOOK VALUE
At 30 June 2023 128,042
At 30 June 2022 87,849

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 560,914 428,776
Other debtors 7,285 11,596
568,199 440,372

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 28,049 38,697
Hire purchase contracts 26,947 41,436
Trade creditors 169,803 68,629
Taxation and social security 48,206 65,483
Other creditors 10,020 3,964
283,025 218,209

THORFIRE LTD (REGISTERED NUMBER: 07681973)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 186,461 137,198
Other creditors 1 1
186,462 137,199

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 1 1

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2