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THIND SUBS LTD

Registered Number
05603156
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

THIND SUBS LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

THIND, Bhupinder Singh
THIND, Jasvir Kaur

Company Secretary

THIND, Jasvir Kaur

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

05603156 (England and Wales)
THIND SUBS LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3228,222128,001
228,222128,001
Current assets
Stocks49,65611,651
Debtors579,47681,213
Cash at bank and on hand174,273169,599
263,405262,463
Creditors amounts falling due within one year6(279,684)(215,764)
Net current assets (liabilities)(16,279)46,699
Total assets less current liabilities211,943174,700
Provisions for liabilities7(58,071)(33,238)
Net assets153,872141,462
Capital and reserves
Called up share capital100100
Profit and loss account153,772141,362
Shareholders' funds153,872141,462
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:
THIND, Bhupinder Singh
Director
THIND, Jasvir Kaur
Director

Registered Company No. 05603156
THIND SUBS LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings15
Plant and machinery15
Fixtures and fittings15
Vehicles15
Office Equipment15
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1424
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 August 23328,73085,11145,300328,2208,828796,189
Additions56,44960,705--6,226123,380
At 31 July 24385,179145,81645,300328,22015,054919,569
Depreciation and impairment
At 01 August 23290,06262,76029,176284,6851,505668,188
Charge for year7,4245,5322,4196,5271,25723,159
At 31 July 24297,48668,29231,595291,2122,762691,347
Net book value
At 31 July 2487,69377,52413,70537,00812,292228,222
At 31 July 2338,66822,35116,12443,5357,323128,001
4.Stocks

2024

2023

££
Raw materials and consumables9,65611,651
Total9,65611,651
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings44044,601
Other debtors55,79322,083
Prepayments and accrued income23,24314,529
Total79,47681,213
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables16,58717,492
Bank borrowings and overdrafts1,53919
Amounts owed to related parties87,290-
Taxation and social security28,25041,620
Other creditors146,018156,633
Total279,684215,764
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)58,07133,238
Total58,07133,238
8.Directors advances, credits and guarantees
Other creditors include an amount of £67,946 (2023: £81,243 Cr) related to the directors' loan account Mr B Thind. Other creditors include an amount of £65,913 (2023: £62,397 Cr) related to the directors' loan account Mrs J Thind.
9.Related party transactions
At the year-end, Amounts owed by/to group undertakings balance include £320 Dr (2023: £320 Dr.) due from Thind Subs Holdco Ltd and £87,291 Cr (2023: £44,161 Dr) due to Gosport Subs Ltd and £120 (2023: £120) due from Fareham Subs Ltd where Mr B Thind and Mrs J Thind are also directors of those companies.