Thames Technology Limited 06959823 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is business support services. Digita Accounts Production Advanced 6.30.9574.0 true false false true true 06959823 2023-01-01 2023-12-31 06959823 2023-12-31 06959823 core:CurrentFinancialInstruments 2023-12-31 06959823 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06959823 bus:SmallEntities 2023-01-01 2023-12-31 06959823 bus:Audited 2023-01-01 2023-12-31 06959823 bus:FilletedAccounts 2023-01-01 2023-12-31 06959823 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06959823 bus:RegisteredOffice 2023-01-01 2023-12-31 06959823 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 06959823 bus:Director2 2023-01-01 2023-12-31 06959823 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06959823 core:Subsidiary1 2023-01-01 2023-12-31 06959823 core:Subsidiary1 1 2023-01-01 2023-12-31 06959823 1 2023-01-01 2023-12-31 06959823 countries:EnglandWales 2023-01-01 2023-12-31 06959823 core:CostValuation 2022-12-31 06959823 2022-01-01 2022-12-31 06959823 2022-12-31 06959823 core:CurrentFinancialInstruments 2022-12-31 06959823 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06959823 core:Subsidiary1 1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 06959823

Thames Technology Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Thames Technology Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Thames Technology Limited

Company Information

Directors

T Bei

R Grover

Company secretary

R Grover

Registered office

The Lightbox
Willoughby Road
Bracknell
Berkshire
RG12 8FB

Auditors

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Thames Technology Limited

(Registration number: 06959823)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

609,368

609,368

Current assets

 

Debtors

5

997,765

736,213

Cash at bank and in hand

 

30,830

58,271

 

1,028,595

794,484

Creditors: Amounts falling due within one year

6

(648,691)

(616,068)

Net current assets

 

379,904

178,416

Net assets

 

989,272

787,784

Capital and reserves

 

Called up share capital

2,079

2,079

Share premium reserve

198,465

198,465

Retained earnings

788,728

587,240

Shareholders' funds

 

989,272

787,784

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

R Grover
Company secretary and director

   
     
 

Thames Technology Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Lightbox
Willoughby Road
Bracknell
Berkshire
RG12 8FB
England

These financial statements were authorised for issue by the Board on 24 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis. The directors continuously review the company's trading against financial forecasts, have evaluated the financial strength of BP Eyelit Holdings Corporation and have concluded that no material uncertainty over the company's going concern basis of accounting exists as at the date of signing the financial statements. As such, the directors consider it remains appropriate to prepare the accounts on a going concern basis.

 

Thames Technology Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 24 October 2024 was Gianni Pietro Amasanti FCCA, who signed for and on behalf of Sterling Grove Accountants Limited.

.........................................

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Thames Technology Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2022 - 15).

 

Thames Technology Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

609,368

609,368

Subsidiaries

£

Cost or valuation

At 1 January 2023

609,368

Provision

Carrying amount

At 31 December 2023

609,368

At 31 December 2022

609,368

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Mestec Limited

The Lightbox
Willoughby Raod
Bracknell
RG12 8FB
England

Ordinary Shares

100%

100%

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by group undertakings

922,808

696,669

Prepayments and accrued income

 

39,312

26,890

Other debtors

 

35,645

12,654

   

997,765

736,213

 

Thames Technology Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

20,697

6,784

Amounts owed to group undertakings

532,500

532,500

Taxation and social security

 

-

43,302

Accruals and deferred income

 

74,976

27,242

Other creditors

 

20,518

6,240

 

648,691

616,068

7

Parent and ultimate parent undertaking

The company's immediate parent is BP Eyelit Holdings Corporation, incorporated in Delaware, United States, which prepares group financial statements.

 The most senior parent entity producing group financial statements is BP Eyelit Holdings Corporation. These financial statements are available upon request from BP Eyelit Holdings Corporation, The Corporation Trust Company, Corporation Trust Centre, 1209 Orange St, Wilmington Delaware 19801, United States.