Acorah Software Products - Accounts Production 16.2.800 false true 31 March 2023 1 April 2022 false 24 March 2025 1 April 2023 31 March 2024 31 March 2024 07976869 Mr R P Browne Mr D B Campbell Mr J D Raffo RP Browne 33 Limited Unit 2 Ninth Avenue, Team Valley Trading Estate, Gateshead, NE11 0EH true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07976869 2023-03-31 07976869 2024-03-31 07976869 2023-04-01 2024-03-31 07976869 frs-core:CurrentFinancialInstruments 2024-03-31 07976869 frs-core:Non-currentFinancialInstruments 2024-03-31 07976869 frs-core:ComputerEquipment 2024-03-31 07976869 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07976869 frs-core:ComputerEquipment 2023-03-31 07976869 frs-core:FurnitureFittings 2024-03-31 07976869 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07976869 frs-core:FurnitureFittings 2023-03-31 07976869 frs-core:MotorVehicles 2024-03-31 07976869 frs-core:MotorVehicles 2023-04-01 2024-03-31 07976869 frs-core:MotorVehicles 2023-03-31 07976869 frs-core:PlantMachinery 2024-03-31 07976869 frs-core:PlantMachinery 2023-04-01 2024-03-31 07976869 frs-core:PlantMachinery 2023-03-31 07976869 frs-core:CapitalRedemptionReserve 2024-03-31 07976869 frs-core:ShareCapital 2024-03-31 07976869 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07976869 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07976869 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07976869 frs-bus:SmallEntities 2023-04-01 2024-03-31 07976869 frs-bus:Audited 2023-04-01 2024-03-31 07976869 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07976869 1 2023-04-01 2024-03-31 07976869 frs-core:DeferredTaxation 2023-04-01 2024-03-31 07976869 frs-core:DeferredTaxation 2023-03-31 07976869 frs-core:DeferredTaxation 2024-03-31 07976869 frs-core:OtherProvisionsContingentLiabilities 2023-04-01 2024-03-31 07976869 frs-core:OtherProvisionsContingentLiabilities 2023-03-31 07976869 frs-core:OtherProvisionsContingentLiabilities 2024-03-31 07976869 frs-bus:Director1 2023-04-01 2024-03-31 07976869 frs-bus:Director2 2023-04-01 2024-03-31 07976869 frs-bus:Director3 2023-04-01 2024-03-31 07976869 frs-countries:EnglandWales 2023-04-01 2024-03-31 07976869 2022-03-31 07976869 2023-03-31 07976869 2022-04-01 2023-03-31 07976869 frs-core:CurrentFinancialInstruments 2023-03-31 07976869 frs-core:Non-currentFinancialInstruments 2023-03-31 07976869 frs-core:CapitalRedemptionReserve 2023-03-31 07976869 frs-core:ShareCapital 2023-03-31 07976869 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07976869
Thrift Energy Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07976869
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 169,571 150,555
169,571 150,555
CURRENT ASSETS
Stocks 5 236,681 353,602
Debtors 6 3,088,133 2,896,314
Cash at bank and in hand 1,788,025 1,223,090
5,112,839 4,473,006
Creditors: Amounts Falling Due Within One Year 7 (2,628,630 ) (2,845,657 )
NET CURRENT ASSETS (LIABILITIES) 2,484,209 1,627,349
TOTAL ASSETS LESS CURRENT LIABILITIES 2,653,780 1,777,904
Creditors: Amounts Falling Due After More Than One Year 8 - (268,195 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 9 (266,677 ) (278,799 )
Deferred Taxation (42,393 ) (35,120 )
NET ASSETS 2,344,710 1,195,790
CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Capital redemption reserve 2,508 2,508
Profit and Loss Account 2,339,702 1,190,782
SHAREHOLDERS' FUNDS 2,344,710 1,195,790
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D B Campbell
Director
24/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thrift Energy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07976869 . The registered office is Unit 2 Ninth Avenue, Team Valley Trading Estate, Gateshead, NE11 0EH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 29)
20 29
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 116,542 164,015 8,959 64,288 353,804
Additions 59,998 36,200 - 833 97,031
Disposals (66,047 ) (13,500 ) (8,959 ) (24,529 ) (113,035 )
As at 31 March 2024 110,493 186,715 - 40,592 337,800
Depreciation
As at 1 April 2023 44,930 100,232 6,314 51,773 203,249
Provided during the period 11,600 20,515 388 6,036 38,539
Disposals (31,032 ) (11,296 ) (6,702 ) (24,529 ) (73,559 )
As at 31 March 2024 25,498 109,451 - 33,280 168,229
Net Book Value
As at 31 March 2024 84,995 77,264 - 7,312 169,571
As at 1 April 2023 71,612 63,783 2,645 12,515 150,555
5. Stocks
2024 2023
£ £
Stock 236,681 353,602
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,889,597 565,934
Other debtors 1,198,536 2,330,380
3,088,133 2,896,314
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 849,756 1,065,045
Other creditors 1,297,803 1,493,625
Taxation and social security 481,071 286,987
2,628,630 2,845,657
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - 268,195
9. Provisions for Liabilities
Deferred Tax Other Provisions Total
£ £ £
As at 1 April 2023 35,120 278,799 313,919
Utilised - (12,122 ) (12,122)
Deferred taxation 7,273 - 7,273
Balance at 31 March 2024 42,393 266,677 309,070
Irrecoverable Loans Provision
A provision is respect of irrecoverable loans totalling £138,125 (2023 - £150,247) has been recognised.
National Insurance Contributions Provision
A provision in respect of Class 1 Secondary National Insurance Contributions totalling £128,552 (2023 - £128,552) has been recognised in the event that a settlement is required relating to trust payments made in prior years.
10. Related Party Transactions
During the year, management charges and expenses totalling £539,829 (2023 - £517,022) were charged to the company by Thrift Financial Limited, a in which Mr D B Campbell is a director. At 31 March 2024 the company owed Thrift Financial Limited £64,896 (2023 - £54,679).
 At 31 March 2024 the company owed Mr D B Campbell, a director, £538,701 (2023 - £528,259).
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is RP Browne 33 Limited . RP Browne 33 Limited was incorporated in England & Wales. Copies of the group accounts may be obtained from the secretary, Unit 2 Ninth Avenue, Team Valley Trading Estate, Gateshead, NE11 0EH . The ultimate controlling party is RP Browne 33 Limited who controls 100% of the shares of Thrift Energy Limited .
12. Audit Information
The auditor's report on the accounts of Thrift Energy Limited for the year ended 31 March 2024 was unqualified.
The auditor's report was signed by T W Duffy (Senior Statutory Auditor) for and on behalf of Glen C Rodger Limited , Statutory Auditor.
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