THEMPC Ltd
Registered number: 08812001
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 275,423 247,529
Current assets
Stocks 17,246 15,976
Debtors 4 366,311 276,023
Cash at bank and in hand 675,189 596,579
1,058,746 888,578
Creditors: amounts falling due within one year 5 (281,102) (153,100)
Net current assets 777,644 735,478
Total assets less current liabilities 1,053,067 983,007
Provisions for liabilities (27,511) (28,640)
Net assets 1,025,556 954,367
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,025,456 954,267
Shareholders' funds 1,025,556 954,367
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P R Marsh
Director
Approved by the board on 3 April 2024
THEMPC Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Leasehold improvements over 15 years
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 101,224 314,508 415,732
Additions 21,517 78,370 99,887
Disposals - (7,203) (7,203)
At 31 December 2023 122,741 385,675 508,416
Depreciation
At 1 January 2023 27,569 140,634 168,203
Charge for the year 8,187 62,813 71,000
On disposals - (6,210) (6,210)
At 31 December 2023 35,756 197,237 232,993
Net book value
At 31 December 2023 86,985 188,438 275,423
At 31 December 2022 73,655 173,874 247,529
4 Debtors 2023 2022
£ £
Trade debtors 242,854 121,039
Prepayments - 3,250
Other debtors 123,457 151,734
366,311 276,023
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 139,215 66,919
Accruals 1,265 1,205
Corporation tax 47,682 -
Other taxes and social security costs 60,664 38,585
Other creditors 32,276 46,391
281,102 153,100
6 Other information
THEMPC Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Chatsworth Green
Hatch Warren
Basingstoke
Hampshire
RG22 4QA
THEMPC Ltd 08812001 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2022 P R Marsh No description of principal activity 08812001 2022-01-01 2022-12-31 08812001 core:WithinOneYear 2022-12-31 08812001 core:ShareCapital 2022-12-31 08812001 core:RetainedEarningsAccumulatedLosses 2022-12-31 08812001 2023-01-01 2023-12-31 08812001 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08812001 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08812001 bus:Director40 2023-01-01 2023-12-31 08812001 1 2023-01-01 2023-12-31 08812001 2 2023-01-01 2023-12-31 08812001 core:LandBuildings 2023-01-01 2023-12-31 08812001 core:PlantMachinery 2023-01-01 2023-12-31 08812001 countries:England 2023-01-01 2023-12-31 08812001 bus:FRS102 2023-01-01 2023-12-31 08812001 bus:FullAccounts 2023-01-01 2023-12-31 08812001 2023-12-31 08812001 core:WithinOneYear 2023-12-31 08812001 core:ShareCapital 2023-12-31 08812001 core:RetainedEarningsAccumulatedLosses 2023-12-31 08812001 core:LandBuildings 2023-12-31 08812001 core:PlantMachinery 2023-12-31 08812001 2022-12-31 08812001 core:LandBuildings 2022-12-31 08812001 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure