Company Registration No. 11116145 (England and Wales)
THRIFTED LIMITED
Unaudited accounts
for the year ended 31 January 2024
THRIFTED LIMITED
Unaudited accounts
Contents
THRIFTED LIMITED
Company Information
for the year ended 31 January 2024
Company Number
11116145 (England and Wales)
Registered Office
3 Cliffside Trade Park
Motherwell Way
RM20 3XD
England
Accountants
Your Cloud Accountant Limited
The Keep
Creech Castle
Taunton
Somerset
TA1 2DX
THRIFTED LIMITED
Statement of financial position
as at 31 January 2024
Intangible assets
2,762
3,452
Tangible assets
306,941
263,096
Inventories
392,371
301,264
Cash at bank and in hand
57,577
53,453
Creditors: amounts falling due within one year
(308,083)
(273,603)
Net current assets
195,859
220,770
Total assets less current liabilities
520,168
487,318
Creditors: amounts falling due after more than one year
(66,142)
-
Provisions for liabilities
Deferred tax
(61,094)
(38,870)
Net assets
392,932
448,448
Called up share capital
100
100
Profit and loss account
392,832
448,348
Shareholders' funds
392,932
448,448
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 October 2024 and were signed on its behalf by
KEMP, Jonathan
Director
Company Registration No. 11116145
THRIFTED LIMITED
Notes to the Accounts
for the year ended 31 January 2024
THRIFTED LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11116145. The registered office is 3 Cliffside Trade Park, Motherwell Way, RM20 3XD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 January 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 February 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
At varying rates at cost
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
At varying rates at cost
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
THRIFTED LIMITED
Notes to the Accounts
for the year ended 31 January 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2023
58,360
15,000
127,308
137,317
337,985
Additions
71,463
-
10,929
6,289
88,681
At 31 January 2024
129,823
15,000
138,237
143,606
426,666
At 1 February 2023
11,669
5,584
32,397
25,239
74,889
Charge for the year
10,120
2,354
17,777
14,585
44,836
At 31 January 2024
21,789
7,938
50,174
39,824
119,725
At 31 January 2024
108,034
7,062
88,063
103,782
306,941
At 31 January 2023
46,691
9,416
94,911
112,078
263,096
6
Investments
Other investments
Valuation at 1 February 2023
-
Valuation at 31 January 2024
14,606
THRIFTED LIMITED
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Trade debtors
22,131
24,302
Accrued income and prepayments
16,463
89,954
Amounts falling due after more than one year
Other debtors
15,400
15,400
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
11,111
38,889
Obligations under finance leases and hire purchase contracts
5,236
8,620
Trade creditors
146,138
95,513
Taxes and social security
13,701
37,000
Other creditors
44,161
4,445
Loans from directors
56,829
66,332
9
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
49,155
-
10
Average number of employees
During the year the average number of employees was 17 (2023: 21).