BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the provision of business and domestic software development. 3 December 2024 15 5 NI634724 2024-03-31 NI634724 2023-03-31 NI634724 2022-03-31 NI634724 2023-04-01 2024-03-31 NI634724 2022-04-01 2023-03-31 NI634724 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI634724 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI634724 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI634724 uk-core:ShareCapital 2024-03-31 NI634724 uk-core:ShareCapital 2023-03-31 NI634724 uk-core:SharePremium 2024-03-31 NI634724 uk-core:SharePremium 2023-03-31 NI634724 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI634724 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI634724 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI634724 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI634724 uk-bus:FRS102 2023-04-01 2024-03-31 NI634724 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI634724 uk-core:ParentEntities 2023-04-01 2024-03-31 NI634724 2023-04-01 2024-03-31 NI634724 uk-bus:Director1 2023-04-01 2024-03-31 NI634724 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Thrive CSR Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024



Thrive CSR Limited
Company Registration Number: NI634724
ABRIDGED BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
 
Tangible assets 5 15,253 4,621
───────── ─────────
 
Current Assets
 
Debtors 561,142 328,381
 
Cash at bank and in hand 298,033 345,216
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859,175 673,597
───────── ─────────
 
Creditors: amounts falling due within one year (319,391) (226,098)
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Net Current Assets 539,784 447,499
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Total Assets less Current Liabilities 555,037 452,120
 
Creditors:
 
amounts falling due after more than one year (111,858) (134,482)
 
 
Provisions for liabilities (3,813) -
───────── ─────────
Net Assets 439,366 317,638
═════════ ═════════
 
 
Capital and Reserves
 
Called up share capital 1,004 1,004
 
Share premium account 6 6,996 6,996
 
Retained earnings 431,366 309,638
───────── ─────────
Shareholders' Funds 439,366 317,638
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 3 December 2024 and signed on its behalf by
           
           
           
________________________________          
Neil Macdonald          
Director          
           



Thrive CSR Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Thrive CSR Limited is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI634724. The registered office of the company is 1 Woodbank Lane, Holywood, Co. Down, BT18 0QA, Northern Ireland which is also the principal place of business of the company.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

The financial statements cover the individual entity, Thrive CSR Limited for the financial year ended 31st March 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Adoption of FRS 102 Section 1A
 
This is the first set of financial statements prepared by Thrive CSR Limited in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 January 2016.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Employees 15 5
  ═════════ ═════════
       
5. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 April 2023 7,402 7,402
Additions 13,321 13,321
  ───────── ─────────
At 31 March 2024 20,723 20,723
  ───────── ─────────
Depreciation
At 1 April 2023 2,781 2,781
Charge for the financial year 2,689 2,689
  ───────── ─────────
At 31 March 2024 5,470 5,470
  ───────── ─────────
Net book value
At 31 March 2024 15,253 15,253
  ═════════ ═════════
At 31 March 2023 4,621 4,621
  ═════════ ═════════
   
6. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2015.
 
   
7. Parent company
 
The company regards Thrive CSR Group Limited as its parent company.
 
       
8. Pension commitments
 
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension contributions are charged to the profit and loss in the year that they occur. There is £4,808 owed to the fund at the 31st March 2024. This is included in Creditors: amounts falling due within one year.
       
9. Financial commitments and guarantees
 
The National Westminster Bank PLC (trading as Ulster Bank) hold a fixed and floating charge over the property and undertaking of the company in respect of the term loan. The charge also contains a negative pledge.