Registered number
04472705
Blue Thorn Technology Limited
Report and Unaudited Accounts
30 June 2024
Collins
Chartered Accountants
West Midlands
Blue Thorn Technology Limited
Registered number: 04472705
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 111,368 56,971
Current assets
Debtors 4 913,467 786,366
Cash at bank and in hand 422,688 149,155
1,336,155 935,521
Creditors: amounts falling due within one year 5 (435,480) (260,196)
Net current assets 900,675 675,325
Total assets less current liabilities 1,012,043 732,296
Creditors: amounts falling due after more than one year 6 (13,133) (23,133)
Provisions for liabilities (27,663) (14,025)
Net assets 971,247 695,138
Capital and reserves
Called up share capital 4 4
Profit and loss account 971,243 695,134
Shareholders' funds 971,247 695,138
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
John Cooper
Director
Approved by the board on 19 March 2025
Blue Thorn Technology Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services, which is recognised when the work has been performed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office furniture 25% pa straight line
Computer equipment 25% pa straight line
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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.Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 41 30
3 Tangible fixed assets
Computer and office equipment Office furniture Total
£ £ £
Cost
At 1 July 2023 146,472 33,425 179,897
Additions 59,567 23,525 83,092
Disposals (90,520) - (90,520)
At 31 March 2024 115,519 56,950 172,469
Depreciation
At 1 July 2023 96,746 26,180 122,926
Charge for the year 28,559 136 28,695
On disposals (90,520) - (90,520)
At 31 March 2024 34,785 26,316 61,101
Net book value
At 31 March 2024 80,734 30,634 111,368
At 30 June 2023 49,726 7,245 56,971
4 Debtors 2024 2023
£ £
Trade debtors 885,549 764,458
Prepayments and accrued income 27,918 21,908
913,467 786,366
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan 10,000 10,000
Trade creditors 46,179 24,569
Corporation tax 185,700 121,178
Other taxes and social security costs 174,991 86,263
Directors loans 5,437 2,678
Accruals and deferred income 13,173 15,508
435,480 260,196
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 13,133 23,133
7 Pension commitments
The company operates a defined contribution pension scheme for the benefit of the directors.The assets of the schemes are administered by trustees in a fund independent from those of the company.The total contributions paid in the year amounted to £61,813 (2023: £51,839).At 30 June 2024 there was £0 (2023:£0) outstanding. The employees are members of an auto-enrollment scheme,which is a defined contribution scheme.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 143,916 55,000
9 Other information
Blue Thorn Technology Limited is a private company limited by shares and incorporated in England. Its registered office is:
3rd Floor
87 Carver Street
Birmingham
West Midlands
B1 3AL
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