Blue Thorn Technology Limited |
Registered number: |
04472705 |
Balance Sheet |
as at 30 June 2024 |
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Notes |
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2024 |
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2023 |
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£ |
£ |
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£ |
£ |
Fixed assets |
Tangible assets |
3 |
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111,368 |
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|
56,971 |
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Current assets |
Debtors |
4 |
|
913,467 |
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786,366 |
Cash at bank and in hand |
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422,688 |
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149,155 |
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1,336,155 |
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935,521 |
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Creditors: amounts falling due within one year |
5 |
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(435,480) |
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(260,196) |
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Net current assets |
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900,675 |
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675,325 |
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Total assets less current liabilities |
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1,012,043 |
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732,296 |
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Creditors: amounts falling due after more than one year |
6 |
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(13,133) |
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(23,133) |
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Provisions for liabilities |
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(27,663) |
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(14,025) |
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Net assets |
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971,247 |
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695,138 |
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Capital and reserves |
Called up share capital |
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4 |
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4 |
Profit and loss account |
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971,243 |
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695,134 |
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Shareholders' funds |
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971,247 |
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695,138 |
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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. |
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John Cooper |
Director |
Approved by the board on 19 March 2025 |
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Blue Thorn Technology Limited |
Notes to the Accounts |
for the year ended 30 June 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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. |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Office furniture |
25% pa straight line |
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Computer equipment |
25% pa straight line |
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Taxation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
41 |
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30 |
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3 |
Tangible fixed assets |
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Computer and office equipment |
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Office furniture |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 July 2023 |
146,472 |
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33,425 |
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179,897 |
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Additions |
59,567 |
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23,525 |
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83,092 |
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Disposals |
(90,520) |
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- |
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(90,520) |
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At 31 March 2024 |
115,519 |
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56,950 |
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172,469 |
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Depreciation |
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At 1 July 2023 |
96,746 |
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26,180 |
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122,926 |
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Charge for the year |
28,559 |
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136 |
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28,695 |
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On disposals |
(90,520) |
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- |
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(90,520) |
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At 31 March 2024 |
34,785 |
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26,316 |
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61,101 |
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Net book value |
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At 31 March 2024 |
80,734 |
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30,634 |
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111,368 |
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At 30 June 2023 |
49,726 |
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7,245 |
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56,971 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
885,549 |
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764,458 |
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Prepayments and accrued income |
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27,918 |
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21,908 |
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913,467 |
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786,366 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Bank loan |
10,000 |
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10,000 |
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Trade creditors |
46,179 |
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24,569 |
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Corporation tax |
185,700 |
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121,178 |
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Other taxes and social security costs |
174,991 |
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86,263 |
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Directors loans |
5,437 |
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2,678 |
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Accruals and deferred income |
13,173 |
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15,508 |
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435,480 |
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260,196 |
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6 |
Creditors: amounts falling due after one year |
2024 |
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2023 |
£ |
£ |
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Bank loan |
13,133 |
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23,133 |
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7 |
Pension commitments |
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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. |
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8 |
Other financial commitments |
2024 |
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2023 |
£ |
£ |
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Total future minimum payments under non-cancellable operating leases |
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143,916 |
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55,000 |
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9 |
Other information |
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Blue Thorn Technology Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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3rd Floor |
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87 Carver Street |
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Birmingham |
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West Midlands |
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B1 3AL |