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REGISTERED NUMBER: 07356134 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

THP SYSTEMS LTD

THP SYSTEMS LTD (REGISTERED NUMBER: 07356134)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THP SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr A Leadbeater
Mrs L J Leadbeater
Mr S P Vale
Mrs S Vale





REGISTERED OFFICE: Unit 22
Woodside Industrial Park
Works Road
Letchworth
Herts
SG6 1LA





REGISTERED NUMBER: 07356134 (England and Wales)





ACCOUNTANTS: Bradshaw Johnson
Chartered Accountants
Croft Chambers
11 Bancroft
Hitchin
Hertfordshire
SG5 1JQ

THP SYSTEMS LTD (REGISTERED NUMBER: 07356134)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 245,144 113,471

CURRENT ASSETS
Stocks 80,000 72,500
Debtors 5 757,261 427,608
Cash at bank and in hand 777,126 643,656
1,614,387 1,143,764
CREDITORS
Amounts falling due within one year 6 956,471 623,710
NET CURRENT ASSETS 657,916 520,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

903,060

633,525

CREDITORS
Amounts falling due after more than one
year

7

91,802

29,416
NET ASSETS 811,258 604,109

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 811,158 604,009
SHAREHOLDERS' FUNDS 811,258 604,109

THP SYSTEMS LTD (REGISTERED NUMBER: 07356134)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





Mr A Leadbeater - Director


THP SYSTEMS LTD (REGISTERED NUMBER: 07356134)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

THP Systems Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Demo and test equipment - 33% on reducing balance
Fixtures, fittings and equipment - 33% on reducing balance
Motor vehicles - 33% on reducing balance and 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Long term contracts
Long term contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Turnover is ascertained by reference to costs incurred, plus profit attributable to the stage of completion less foreseeable losses.

THP SYSTEMS LTD (REGISTERED NUMBER: 07356134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Demo and fittings
test and Motor Computer
equipment equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 400,005 13,343 44,000 30,896 488,244
Additions 15,059 8,111 186,083 - 209,253
At 31 August 2024 415,064 21,454 230,083 30,896 697,497
DEPRECIATION
At 1 September 2023 321,512 13,066 12,833 27,362 374,773
Charge for year 31,183 2,351 41,403 2,643 77,580
At 31 August 2024 352,695 15,417 54,236 30,005 452,353
NET BOOK VALUE
At 31 August 2024 62,369 6,037 175,847 891 245,144
At 31 August 2023 78,493 277 31,167 3,534 113,471

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 107,000
Additions 186,083
At 31 August 2024 293,083
DEPRECIATION
At 1 September 2023 54,055
Charge for year 48,662
At 31 August 2024 102,717
NET BOOK VALUE
At 31 August 2024 190,366
At 31 August 2023 52,945

THP SYSTEMS LTD (REGISTERED NUMBER: 07356134)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 757,261 425,608
Other debtors - 2,000
757,261 427,608

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 43,714 18,088
Trade creditors 735,028 428,200
Tax 78,256 107,226
Social security and other taxes 11,331 7,842
VAT 85,592 60,094
Accrued expenses 2,550 2,260
956,471 623,710

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 91,802 29,416

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.