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Registration number: 10089861

Thilo Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Thilo Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Thilo Limited

Company Information

Directors

P Thilo

S Thilo

Registered office

New Place Stables
Station Road
Lingfield
Surrey
RH7 6EF

Accountants

Smart Accounting & Tax Solutions LLP 74A Station Road East
Oxted
Surrey
RH8 0PG

 

Thilo Limited

(Registration number: 10089861)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,494

3,964

Current assets

 

Debtors

5

187

-

Cash at bank and in hand

 

8,187

112,962

 

8,374

112,962

Creditors: Amounts falling due within one year

6

(10,865)

(46,584)

Net current (liabilities)/assets

 

(2,491)

66,378

Total assets less current liabilities

 

3

70,342

Provisions for liabilities

-

(252)

Net assets

 

3

70,090

Capital and reserves

 

Called up share capital

7

3

3

Retained earnings

-

70,087

Shareholders' funds

 

3

70,090

 

Thilo Limited

(Registration number: 10089861)
Balance Sheet as at 31 March 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 March 2025 and signed on its behalf by:
 

.........................................
P Thilo
Director

.........................................
S Thilo
Director

 
     
 

Thilo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
New Place Stables
Station Road
Lingfield
Surrey
RH7 6EF
United Kingdom

These financial statements were authorised for issue by the Board on 16 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities of providing insurance consutltancy services. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises Corporation Tax, based on the Company's taxable profit and chargeable gains. Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Thilo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Thilo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

7,359

7,359

Additions

250

250

At 31 March 2024

7,609

7,609

Depreciation

At 1 April 2023

3,395

3,395

Charge for the year

1,720

1,720

At 31 March 2024

5,115

5,115

Carrying amount

At 31 March 2024

2,494

2,494

At 31 March 2023

3,964

3,964

5

Debtors

Current

2024
£

2023
£

Other debtors

187

-

 

187

-

 

Thilo Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,265

36,847

Accruals and deferred income

3,356

1,800

Other creditors

5,244

7,937

10,865

46,584

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3