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Registered number: 12291373
Thndr Ltd
Financial Statements
For The Year Ended 31 July 2024
Square Mile Accounting Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12291373
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,632 16,442
Tangible Assets 5 662 1,543
Investments 6 7 7
21,301 17,992
CURRENT ASSETS
Debtors 7 759,836 411,021
Cash at bank and in hand 242,324 508,588
1,002,160 919,609
Creditors: Amounts Falling Due Within One Year 8 (61,680 ) (58,193 )
NET CURRENT ASSETS (LIABILITIES) 940,480 861,416
TOTAL ASSETS LESS CURRENT LIABILITIES 961,781 879,408
NET ASSETS 961,781 879,408
CAPITAL AND RESERVES
Called up share capital 9 454 433
Share premium account 1,542,958 1,507,623
Other reserves 439,546 160,516
Profit and Loss Account (1,021,177 ) (789,164 )
SHAREHOLDERS' FUNDS 961,781 879,408
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 J Everitt
Director
24th April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thndr Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12291373 . The registered office is 71-75 Shelton Street, London, Greater London, WC2H 9JQ.
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. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets represent digital assets held by the company at the year end. Digital assets are recognised in accordance with the requirements of FRS102.
2.5. 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 33% cost
Computer Equipment 33% cost
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. 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.
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2.8. Share based payments
Where share options are awarded to employees, the fair value of the options is charged to the income statement over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
No share based payment provision was required.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
4. Intangible Assets
Other
£
Cost
As at 1 August 2023 16,442
Additions 4,190
As at 31 July 2024 20,632
Net Book Value
As at 31 July 2024 20,632
As at 1 August 2023 16,442
Other intangible assets respresent the company's Bitcoin holding.
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2023 2,749
As at 31 July 2024 2,749
Depreciation
As at 1 August 2023 1,206
Provided during the period 881
As at 31 July 2024 2,087
Net Book Value
As at 31 July 2024 662
As at 1 August 2023 1,543
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6. Investments
Subsidiaries
£
Cost
As at 1 August 2023 7
As at 31 July 2024 7
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 7
As at 1 August 2023 7
The company owns 100% holding of Thndr Games Inc, a company incorporated in the US.
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,928 16,023
Prepayments and accrued income 2,802 -
Other debtors - 8,992
Corporation tax recoverable assets 70,781 31,168
VAT 608 2,908
Amounts owed by group undertakings 665,717 351,930
759,836 411,021
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,457 4,907
Other loans 45,000 45,000
Other taxes and social security - 4,232
Other creditors 7 7
Accruals and deferred income 12,169 3,000
Directors' loan accounts 1,047 1,047
61,680 58,193
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 454 433
10. Reserves
During the year, the company received advanced subscription agreements totalling £279,030 (2023: £160,516) which will convert to equity during future fund raising rounds. 
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11. Related Party Transactions
Included in Note 7 is a loan of £665,717 (2023: £351,930) due from from Thndr Games Inc, which is a 100% subsidiary of Thndr Ltd.
Included in Note 8 is a loan of £45,000 (2023: £45,000) from a company under control by one of the directors. 
No interest is charged on these loans and the loans are repayable on demand.
12. Controlling Party
The company's controlling party is the Directors by virtue of their ownership of 51.52% of the issued share capital in the company.
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