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REGISTERED NUMBER: 08277310 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

THQ Distribution Ltd

THQ Distribution Ltd (Registered number: 08277310)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THQ Distribution Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr C J Butterworth
Mrs A C Stretton
Mr A P Stretton





REGISTERED OFFICE: Unit 12 Bruntingthorpe Ind. Estate
Upper Bruntingthorpe
Leicester
LE17 5QZ





REGISTERED NUMBER: 08277310 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

THQ Distribution Ltd (Registered number: 08277310)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 627,883 632,112
Investments 6 - 76
627,883 632,188

CURRENT ASSETS
Stocks 3,055,677 2,719,482
Debtors 7 1,208,764 1,230,590
Cash at bank and in hand 582,519 317,140
4,846,960 4,267,212
CREDITORS
Amounts falling due within one year 8 1,441,298 1,262,268
NET CURRENT ASSETS 3,405,662 3,004,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,033,545

3,637,132

CREDITORS
Amounts falling due after more than one
year

9

(112,023

)

(121,167

)

PROVISIONS FOR LIABILITIES (56,549 ) (89,789 )
NET ASSETS 3,864,973 3,426,176

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 3,864,873 3,426,076
SHAREHOLDERS' FUNDS 3,864,973 3,426,176

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

THQ Distribution Ltd (Registered number: 08277310)

Balance Sheet - continued
31 December 2024


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 14 April 2025 and were signed on its behalf by:




Mr A P Stretton - Director



Mrs A C Stretton - Director


THQ Distribution Ltd (Registered number: 08277310)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

THQ Distribution 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery etc - 25% on reducing balance and 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

THQ Distribution Ltd (Registered number: 08277310)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 16,000
AMORTISATION
At 1 January 2024
and 31 December 2024 16,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

THQ Distribution Ltd (Registered number: 08277310)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 78,659 811,511 890,170
Additions 11,364 301,293 312,657
Disposals - (224,945 ) (224,945 )
At 31 December 2024 90,023 887,859 977,882
DEPRECIATION
At 1 January 2024 34,461 223,597 258,058
Charge for year 13,552 153,933 167,485
Eliminated on disposal - (75,544 ) (75,544 )
At 31 December 2024 48,013 301,986 349,999
NET BOOK VALUE
At 31 December 2024 42,010 585,873 627,883
At 31 December 2023 44,198 587,914 632,112

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

Plant and
machinery
etc
£   
COST
At 1 January 2024 288,650
Additions 87,500
Disposals (53,368 )
At 31 December 2024 322,782
DEPRECIATION
At 1 January 2024 18,244
Charge for year 68,532
Eliminated on disposal (13,342 )
At 31 December 2024 73,434
NET BOOK VALUE
At 31 December 2024 249,348
At 31 December 2023 270,406

THQ Distribution Ltd (Registered number: 08277310)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. FIXED ASSET INVESTMENTS
THQ EU
B.V.
£   
COST
At 1 January 2024 76
Disposals (76 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 76

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 238,572 736,120
Other debtors 697,813 305,355
Prepayments and accrued income 272,379 189,115
1,208,764 1,230,590

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 45,834 50,125
Trade creditors 663,198 612,932
Tax 309,932 279,946
Social security and other taxes 11,810 13,362
VAT 299,866 209,993
Other creditors 12,032 4,593
Directors' current accounts 68,074 79,850
Accrued expenses 30,552 11,467
1,441,298 1,262,268

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 112,023 121,167

THQ Distribution Ltd (Registered number: 08277310)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
80 A Ordinary £1.00 80 90
10 B Ordinary £1.00 10 10
10 C Ordinary £1.00 10 -
100 100

10 C Ordinary shares of £1.00 each were allotted and fully paid for cash at par during the year.