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Registered number: 07919498
Th3 Standard Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07919498
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 75 75
75 75
CURRENT ASSETS
Debtors 5 489,150 289,861
Cash at bank and in hand 475,155 692,871
964,305 982,732
Creditors: Amounts Falling Due Within One Year 6 (320,050 ) (543,661 )
NET CURRENT ASSETS (LIABILITIES) 644,255 439,071
TOTAL ASSETS LESS CURRENT LIABILITIES 644,330 439,146
NET ASSETS 644,330 439,146
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 643,330 438,146
SHAREHOLDERS' FUNDS 644,330 439,146
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ferdinando Fusaro
Director
09/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Th3 Standard Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07919498 . The registered office is 19 The Circle, Queen Elizabeth Street, London, England, SE1 2JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Investments
Other
£
Cost
As at 1 January 2023 75
As at 31 December 2023 75
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 75
As at 1 January 2023 75
Investments represents share of group companies for £75.17 in Th3 Standard Inc
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 480,522 206,489
Prepayments and accrued income 2,464 83,372
Amounts owed by group undertakings 6,164 -
489,150 289,861
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 173,790 75,575
Bank loans and overdrafts 30 31
Corporation tax 93,289 38,364
VAT 44,202 26,495
Other creditors 667 667
Other creditors (1) 8,072 8,072
Amounts owed to other participating interests - 394,457
320,050 543,661
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
8. Related Party Transactions
Related party transactions took place in the year 2023:
During the year company has reccived the interest free loan amount £6,164 from Th3 Ltd and also reapaid loan to TH3 ltd of £394,45 tthe closing balance as on 31.12.2023 is £6,164 (2022: -£394,457) same included note  5.
TH3 Ltd rendered services to TH3 Standard Ltd amounting to £0.00 (2022:£0.00); At the year end, TH3 Ltd owed to Th3 standard Ltd £23,466 (2022:£23,466) same included note 6.
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9. Ultimate Controlling Party
The company's ultimate controlling party is Th3 Ltd by virtue of his ownership of 75% or more of the issued share capital in the company.
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