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
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
Take Thyme Limited
Statement of financial position
as at 31 March 2024
Intangible assets
17,258
1,471
Tangible assets
78,860
82,233
Cash at bank and in hand
27,511
293,895
Creditors: amounts falling due within one year
(226,505)
(159,796)
Net current (liabilities)/assets
(94,915)
241,714
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
Take Thyme Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
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.
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.
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 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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Take Thyme Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Other
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
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
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
Finished goods
12,505
17,546
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
Amounts falling due after more than one year
Take Thyme Limited
Notes to the Accounts
for the year ended 31 March 2024
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
25,886
25,048
Taxes and social security
56,423
48,331
Loans from directors
216
1,268
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.
The company had no contingent liabilities at the year end.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
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.
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).