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Company Registration No. 11116145 (England and Wales)
THRIFTED LIMITED Unaudited accounts for the year ended 31 January 2024
THRIFTED LIMITED Unaudited accounts Contents
Page
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THRIFTED LIMITED Company Information for the year ended 31 January 2024
Director
KEMP, Jonathan
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
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THRIFTED LIMITED Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,762 
3,452 
Tangible assets
306,941 
263,096 
Investments
14,606 
- 
324,309 
266,548 
Current assets
Inventories
392,371 
301,264 
Debtors
53,994 
139,656 
Cash at bank and in hand
57,577 
53,453 
503,942 
494,373 
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 
Capital and reserves
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
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THRIFTED LIMITED Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
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.
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THRIFTED LIMITED Notes to the Accounts for the year ended 31 January 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2023
6,904 
At 31 January 2024
6,904 
Amortisation
At 1 February 2023
3,452 
Charge for the year
690 
At 31 January 2024
4,142 
Net book value
At 31 January 2024
2,762 
At 31 January 2023
3,452 
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 
Depreciation
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 
Net book value
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
- 
Additions
14,606 
Valuation at 31 January 2024
14,606 
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THRIFTED LIMITED Notes to the Accounts for the year ended 31 January 2024
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
22,131 
24,302 
Accrued income and prepayments
16,463 
89,954 
Other debtors
- 
10,000 
38,594 
124,256 
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 
VAT
30,907 
7,188 
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 
Accruals
- 
15,616 
308,083 
273,603 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,987 
- 
Obligations under finance leases and hire purchase contracts
49,155 
- 
66,142 
- 
10
Average number of employees
During the year the average number of employees was 17 (2023: 21).
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