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REGISTERED NUMBER: 09383933 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Thorp Developments Ltd

Thorp Developments Ltd (Registered number: 09383933)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thorp Developments Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs J C Thipthorp
J T Thipthorp





SECRETARY:





REGISTERED OFFICE: 9
Trevilson Close
Newquay
Cornwall
TR8 5NX





REGISTERED NUMBER: 09383933 (England and Wales)





ACCOUNTANTS: JBH Accountants
6 Gills Avenue
Canvey Island
Essex
SS8 7RG

Thorp Developments Ltd (Registered number: 09383933)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,777 6,832

CURRENT ASSETS
Stocks 5,500 28,155
Debtors 5 70,472 18,526
Cash at bank and in hand 3,974 18,064
79,946 64,745
CREDITORS
Amounts falling due within one year 6 66,976 79,649
NET CURRENT ASSETS/(LIABILITIES) 12,970 (14,904 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,747

(8,072

)

CREDITORS
Amounts falling due after more than
one year

7

40,076

28,432
NET ASSETS/(LIABILITIES) 1,671 (36,504 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,669 (36,506 )
SHAREHOLDERS' FUNDS 1,671 (36,504 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Thorp Developments Ltd (Registered number: 09383933)

Balance Sheet - continued
31 January 2024


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 5 September 2024 and were signed on its behalf by:





J T Thipthorp - Director


Thorp Developments Ltd (Registered number: 09383933)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Thorp Developments 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Thorp Developments Ltd (Registered number: 09383933)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 6 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 14,598
Additions 29,138
At 31 January 2024 43,736
DEPRECIATION
At 1 February 2023 7,766
Charge for year 7,193
At 31 January 2024 14,959
NET BOOK VALUE
At 31 January 2024 28,777
At 31 January 2023 6,832

Thorp Developments Ltd (Registered number: 09383933)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 5,749
DEPRECIATION
At 1 February 2023 4,507
Charge for year 248
At 31 January 2024 4,755
NET BOOK VALUE
At 31 January 2024 994
At 31 January 2023 1,242

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 70,472 17,926
Other debtors - 600
70,472 18,526

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 39,996 57,638
Taxation and social security 26,959 21,963
Other creditors 21 48
66,976 79,649

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 40,076 28,432