1 April 2024 v2025.44.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP058972012024-04-012025-03-31058972012025-03-31058972012024-03-3105897201core:WithinOneYear2025-03-3105897201core:WithinOneYear2024-03-3105897201core:AfterOneYear2025-03-3105897201core:AfterOneYear2024-03-3105897201core:ShareCapital2025-03-3105897201core:ShareCapital2024-03-3105897201core:RetainedEarningsAccumulatedLosses2025-03-3105897201core:RetainedEarningsAccumulatedLosses2024-03-3105897201bus:Director12024-04-012025-03-3105897201bus:RegisteredOffice2024-04-012025-03-3105897201core:PlantMachinery2024-04-012025-03-3105897201core:FurnitureFittings2024-04-012025-03-3105897201core:OfficeEquipment2024-04-012025-03-31058972012023-04-012024-03-3105897201core:PlantMachinery2024-04-0105897201core:PlantMachinery2025-03-3105897201core:PlantMachinery2024-03-310589720112024-04-012025-03-3105897201countries:EnglandWales2024-04-012025-03-3105897201bus:AuditExemptWithAccountantsReport2024-04-012025-03-3105897201bus:PrivateLimitedCompanyLtd2024-04-012025-03-3105897201bus:SmallEntities2024-04-012025-03-3105897201bus:FullAccounts2024-04-012025-03-31
Company registration number:
05897201
Thegan Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2025
Sandwell Accountancy Services Limited
Certified Public Accountants
Old Bank Buildings, Upper High Street, Cradley Heath, West Midlands, B64 5HY, United Kingdom
Thegan Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Thegan Limited
Year ended
31 March 2025
In order to assist you to fulfil our duties under the Companies Act 2006, we have prepared for your approval the accounts of Thegan Limited for the year ended 31 March 2025, from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Certified Public Accountants, we are subject to its ethical and other professional requirements.
This report is made solely to the Board of Directors of Thegan Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Thegan Limited and state those matters that we have agreed to state to the Board of Directors of Thegan Limited, as a body, in this report in accordance with the requirements of the Association of Certified Public Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thegan Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Thegan Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Thegan Limited. You consider that Thegan Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts Thegan Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us, and we do not, therefore, express any opinion on the statutory accounts.
Sandwell Accountancy Services Limited
Certified Public Accountants
Old Bank Buildings
Upper High Street
Cradley Heath
West Midlands
B64 5HY
United Kingdom
Thegan Limited
Statement of Financial Position
31 March 2025
20252024
Note££
Fixed assets    
Tangible assets 5
58,868
 
55,693
 
Current assets    
Debtors 6
946,488
 
731,905
 
Cash at bank and in hand
28,286
 
55,096
 
974,774
 
787,001
 
Creditors: amounts falling due within one year 7
(194,232
)
(147,316
)
Net current assets
780,542
 
639,685
 
Total assets less current liabilities 839,410   695,378  
Creditors: amounts falling due after more than one year 8
(23,177
)
(24,059
)
Net assets
816,233
 
671,319
 
Capital and reserves    
Called up share capital
3
 
2
 
Profit and loss account
816,230
 
671,317
 
Shareholders funds
816,233
 
671,319
 
For the year ending
31 March 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
30 June 2025
, and are signed on behalf of the board by:
Dr T Moodley
Director
Company registration number:
05897201
Thegan Limited
Notes to the Financial Statements
Year ended
31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Old Bank Buildings
,
Upper High Street
,
Cradley Heath
,
West Midlands
,
B64 5HY
, .

2 Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland' and the Companies Act 2006.

3 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% reducing balance
Fixtures and fittings
20% reducing balance
Office equipment
20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
15
(2024:
15
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2024
183,728
 
Additions
17,898
 
At
31 March 2025
201,626
 
Depreciation  
At
1 April 2024
128,035
 
Charge
14,723
 
At
31 March 2025
142,758
 
Carrying amount  
At
31 March 2025
58,868
 
At 31 March 2024
55,693
 

6 Debtors

20252024
££
Trade debtors
66,572
 
(90,804
)
Other debtors
879,916
 
822,709
 
946,488
 
731,905
 
The debtors above include the following amounts falling due after more than one year:
20252024
££
Other debtors
879,916
 
822,709
 

7 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
11,040
 
11,040
 
Trade creditors
24,428
 
20,195
 
Taxation and social security
46,763
 
11,842
 
Other creditors
112,001
 
104,239
 
194,232
 
147,316
 

8 Creditors: amounts falling due after more than one year

20252024
££
Bank loans and overdrafts
23,177
 
24,059