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Company No: 05595291 (England and Wales)

OUTSMART THE THIEF LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

OUTSMART THE THIEF LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

OUTSMART THE THIEF LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
OUTSMART THE THIEF LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTOR Carl Meyer
REGISTERED OFFICE The Coach House 2 Kings Court
Market Weighton
York
YO43 3FN
United Kingdom
COMPANY NUMBER 05595291 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
OUTSMART THE THIEF LIMITED

BALANCE SHEET

As at 31 October 2024
OUTSMART THE THIEF LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 31.10.24 31.10.23
£ £
Fixed assets
Intangible assets 3 0 3,833
Tangible assets 4 77,700 98,778
77,700 102,611
Current assets
Stocks 5 17,000 17,000
Debtors 6 3,635 14,437
Cash at bank and in hand 7 10,678 15,827
31,313 47,264
Creditors: amounts falling due within one year 8 ( 50,930) ( 47,846)
Net current liabilities (19,617) (582)
Total assets less current liabilities 58,083 102,029
Creditors: amounts falling due after more than one year 9 ( 17,840) ( 42,236)
Provision for liabilities 10 ( 17,179) 0
Net assets 23,064 59,793
Capital and reserves
Called-up share capital 11 1,000 1,000
Profit and loss account 22,064 58,793
Total shareholder's funds 23,064 59,793

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Outsmart The Thief Limited (registered number: 05595291) were approved and authorised for issue by the Director on 05 March 2025. They were signed on its behalf by:

Carl Meyer
Director
OUTSMART THE THIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
OUTSMART THE THIEF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Outsmart The Thief Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Coach House 2 Kings Court, Market Weighton, York, YO43 3FN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 - 25 % reducing balance
3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

31.10.24 31.10.23
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 November 2023 5,000 5,000
Disposals ( 5,000) ( 5,000)
At 31 October 2024 0 0
Accumulated amortisation
At 01 November 2023 1,167 1,167
Charge for the financial year 166 166
Disposals ( 1,333) ( 1,333)
At 31 October 2024 0 0
Net book value
At 31 October 2024 0 0
At 31 October 2023 3,833 3,833

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2023 147,491 147,491
Additions 3,630 3,630
Disposals ( 1,600) ( 1,600)
At 31 October 2024 149,521 149,521
Accumulated depreciation
At 01 November 2023 48,713 48,713
Charge for the financial year 24,289 24,289
Disposals ( 1,181) ( 1,181)
At 31 October 2024 71,821 71,821
Net book value
At 31 October 2024 77,700 77,700
At 31 October 2023 98,778 98,778

5. Stocks

31.10.24 31.10.23
£ £
Stocks 17,000 17,000

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

6. Debtors

31.10.24 31.10.23
£ £
Trade debtors 1,087 12,259
Other debtors 2,548 2,178
3,635 14,437

7. Cash and cash equivalents

31.10.24 31.10.23
£ £
Cash at bank and in hand 10,678 15,827

8. Creditors: amounts falling due within one year

31.10.24 31.10.23
£ £
Bank loans 9,900 10,000
Trade creditors 2,572 3,797
Taxation and social security 23,915 20,762
Obligations under finance leases and hire purchase contracts 14,520 13,008
Other creditors 23 279
50,930 47,846

9. Creditors: amounts falling due after more than one year

31.10.24 31.10.23
£ £
Bank loans 5,957 15,833
Obligations under finance leases and hire purchase contracts 11,883 26,403
17,840 42,236

There are no amounts included above in respect of which any security has been given by the small entity.

10. Deferred tax

31.10.24 31.10.23
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 17,179) 0
At the end of financial year ( 17,179) 0

11. Called-up share capital

31.10.24 31.10.23
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000