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Company Registration No. 10271047 (England and Wales)
Take Thyme Limited Unaudited accounts for the year ended 31 March 2024
Take Thyme Limited Unaudited accounts Contents
Page
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Take Thyme Limited Company Information for the year ended 31 March 2024
Directors
William Howard Clare Howard
Company Number
10271047 (England and Wales)
Registered Office
The Lazy Trout Meerbrook Leek Staffordshire ST13 8SN United Kingdom
Accountants
Chilli Accounting Ltd 21 Pyxe Court Walton Park Milton Keynes MK7 7HR
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Take Thyme Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
17,258 
1,471 
Tangible assets
78,860 
82,233 
96,118 
83,704 
Current assets
Inventories
12,505 
17,546 
Debtors
91,574 
90,069 
Cash at bank and in hand
27,511 
293,895 
131,590 
401,510 
Creditors: amounts falling due within one year
(226,505)
(159,796)
Net current (liabilities)/assets
(94,915)
241,714 
Net assets
1,203 
325,418 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,201 
325,416 
Shareholders' funds
1,203 
325,418 
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by
William Howard Director Company Registration No. 10271047
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Take Thyme Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Take Thyme Limited is a private company, limited by shares, registered in England and Wales, registration number 10271047. The registered office is The Lazy Trout, Meerbrook, Leek, Staffordshire, ST13 8SN, United Kingdom.
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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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:
Land & buildings
15% Reducing Balance on Leasehold Improvements
Plant & machinery
15% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
33% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Take Thyme Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
1,706 
Additions
16,356 
At 31 March 2024
18,062 
Amortisation
At 1 April 2023
235 
Charge for the year
569 
At 31 March 2024
804 
Net book value
At 31 March 2024
17,258 
At 31 March 2023
1,471 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
25,906 
69,027 
4,373 
30,055 
129,361 
Additions
3,900 
3,860 
863 
2,460 
11,083 
At 31 March 2024
29,806 
72,887 
5,236 
32,515 
140,444 
Depreciation
At 1 April 2023
745 
23,802 
354 
22,227 
47,128 
Charge for the year
3,774 
7,462 
603 
2,617 
14,456 
At 31 March 2024
4,519 
31,264 
957 
24,844 
61,584 
Net book value
At 31 March 2024
25,287 
41,623 
4,279 
7,671 
78,860 
At 31 March 2023
25,161 
45,225 
4,019 
7,828 
82,233 
6
Inventories
2024 
2023 
£ 
£ 
Finished goods
12,505 
17,546 
12,505 
17,546 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
37,425 
2,600 
Accrued income and prepayments
5,651 
25,280 
Other debtors
45,498 
62,189 
88,574 
90,069 
Amounts falling due after more than one year
Other debtors
3,000 
- 
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Take Thyme Limited Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
76,028 
49,894 
Trade creditors
25,886 
25,048 
Taxes and social security
56,423 
48,331 
Other creditors
9,723 
- 
Loans from directors
216 
1,268 
Accruals
58,229 
31,435 
Deferred income
- 
3,820 
226,505 
159,796 
On the 18th September 2018 Barclays Security Trustee Limited registered a charge with Companies House containing both fixed and floating charges covering all the property and undertakings of the Company. This is in relation to banking services provided to the Company by Barclays Bank UK PLC.
9
Capital commitments
2024 
2023 
£ 
£ 
The company had no commitments for capital expenditure at the year end.
10
Contingent liabilities
The company had no contingent liabilities at the year end.
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
William Howard
Loan to Director
51,139 
1,051 
17,742 
34,448 
51,139 
1,051 
17,742 
34,448 
On the 20th August 2021 an advance was made to Mr W Howard, a director of the company. The initial advance totaled £50,000. The interest rate charged on this loan is 2% per annum. Interest is calculated daily. The loan was unsecured. A partial repayment on the loan of £17,742 was made on 15 December 2023. A full and final payment was made to settle the loan on 18th December 2024.
12
Transactions with related parties
The Company rents its operating premises at The Lazy Trout, Meerbrook, Leek, ST13 8SN from Mr William Ashley Howard who is a director of the Company and a 50% shareholder of Take Thyme Limited's parent Company. The lease is on arms length commercial terms and is a tenancy at will so there is no lease term and no operating lease commitments to be disclosed.
13
Controlling party
On 25th May 2023 Thyme Holdings Ltd (Company Number 14835932) of The Lazy Trout, Meerbrook, Leek, Staffordshire, UK, ST13 8SN became the 100% owner of Take Thyme Limited.
14
Average number of employees
During the year the average number of employees was 55 (2023: 51).
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