REGISTERED NUMBER: 10034710 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THOMAS THOR ASSOCIATES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C A Thomas

B A J Smith

C T White

REGISTERED OFFICE:

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

REGISTERED NUMBER:

10034710 (England and Wales)

AUDITORS:

Walker Begley UK Limited

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

FIXED ASSETS

Tangible assets

4

1,713

3,612

CURRENT ASSETS

Debtors

838,244

1,259,269

Cash at bank

62,326

160,665

900,570

1,419,934

CREDITORS

Amounts falling due within one year

421,917

833,955

NET CURRENT ASSETS

478,653

585,979

TOTAL ASSETS LESS CURRENT LIABILITIES

480,366

589,591

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

480,266

589,491

SHAREHOLDERS' FUNDS

480,366

589,591

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 September 2025 and were signed on its behalf by:

C A Thomas - Director

B A J Smith - Director

1.	STATUTORY INFORMATION

Thomas Thor Associates Limited 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Plant and machinery etc

-

20% on cost

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.

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.

Going concern

The restructuring undertaken in 2024 has significantly strengthened Thomas Thor's financial position by enhancing its cash reserves and reducing short-term expenditures. As a result, the organisation currently holds cash reserves amounting to nearly twice its operational expenditure (OPEX).

The group returned to profitability at the close of Q3 2024 and has sustained profitability to date. Projections indicate continued profitability on a monthly basis moving forward. The group repaid the restructuring loan to FLOW one month early and the only major financial obligation is the BNP loan, with €250,000 due by the end of 2025.

Provided that current operational practices are maintained and no significant market disruptions arise across global markets, the organisation is well-positioned to meet all financial commitments.

The directors therefore consider the going concern basis to be appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

10,002

Disposals

(2,926

)

At 31 December 2024

7,076

DEPRECIATION

At 1 January 2024

6,390

Charge for year

1,314

Eliminated on disposal

(2,341

)

At 31 December 2024

5,363

NET BOOK VALUE

At 31 December 2024

1,713

At 31 December 2023

3,612

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

£

Within one year

22,065

45,179

Between one and five years

12,055

37,039

34,120

82,218

6.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Factoring account

193,571

312,536

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Begley (Senior Statutory Auditor)

for and on behalf of Walker Begley UK Limited

8.	RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £11,402 due from James Ball. James resigned as a director of the company on 29 May 2024 but remains a shareholder.

Included within other debtors is an amount of £25,547 due to N Messenger, a participator within the group.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is C A Thomas.

The ultimate controlling party is C A Thomas.

The company is a subsidiary of Thomas Thor Associates BV. This company is incorporated in the Netherlands. The registered address is:

Keizersgracht 268

1016 EV Amsterdam

The Netherlands