Thebes IT Solutions Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04369856 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2024 TO 30 JUNE 2025

FOR

THEBES IT SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Hall

Restoration Partners Limited

R Long

M Miah

REGISTERED OFFICE:

10 London Mews

London

W2 1HY

REGISTERED NUMBER:

04369856 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

London

W21HY

FIXED ASSETS

Intangible assets

4

3,690

-

Tangible assets

5

138,663

7,180

Investments

6

3,350

145,703

10,530

CURRENT ASSETS

Debtors

7

1,664,383

2,288,868

Cash at bank

4,795

196,973

1,669,178

2,485,841

CREDITORS

Amounts falling due within one year

8

1,725,074

2,101,735

NET CURRENT (LIABILITIES)/ASSETS

(55,896

)

384,106

TOTAL ASSETS LESS CURRENT
LIABILITIES

89,807

394,636

CREDITORS

Amounts falling due after more than one
year

9

80,667

298,072

NET ASSETS

9,140

96,564

CAPITAL AND RESERVES

Called up share capital

395

385

Retained earnings

8,745

96,179

SHAREHOLDERS' FUNDS

9,140

96,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2025 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 Michael Hall the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

M Hall - Director

1.	STATUTORY INFORMATION

Thebes IT Solutions 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.

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 as the fair value of consideration received or receivable, excluding discounts, rebates and value added tax. The following criteria must also be met before revenue is recognised:

Managed services

Revenue from managed services where support is provided in respect of IT infrastructure is recognised in the period for which it is provided. Revenue is only recognised when the contractual obligations in the master service agreement have been met and delivered successfully. Managed services contracts are between 12 months and 36 months.

Time and material

Revenue under this income stream is recognised based on the actual work provided measured on a time sheet basis. Services provided can be varied and are typically supplied in accordance with short term statements of work. Revenue is recognised in the period it is provided.

Projects

Revenue from projects are also recognised on the actual work provided measured on a time sheet basis. The service provided is in respect of implementation of software and is recognised in the period provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

Buildings: 2% straight line, Land: nil

Fixtures and fittings

-

25% straight line

Computer equipment

-

33.33% straight line

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Taxation

Taxation for the period 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 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the income statement on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 42 (2023 - 47 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 January 2024

10,000

-

10,000

Additions

-

3,690

At 30 June 2025

10,000

3,690

13,690

AMORTISATION

At 1 January 2024

and 30 June 2025

10,000

-

10,000

NET BOOK VALUE

At 30 June 2025

-

3,690

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

COST

At 1 January 2024

-

41,738

88,545

130,283

Additions

134,656

-

4,030

138,686

At 30 June 2025

134,656

41,738

92,575

268,969

DEPRECIATION

At 1 January 2024

-

39,126

83,977

123,103

Charge for period

-

2,611

4,592

7,203

At 30 June 2025

-

41,737

88,569

130,306

NET BOOK VALUE

At 30 June 2025

134,656

1

4,006

138,663

At 31 December 2023

-

2,612

4,568

7,180

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 30 June 2025

3,350

NET BOOK VALUE

At 30 June 2025

3,350

At 31 December 2023

3,350

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

31.12.23

£

Trade debtors

954,027

1,050,100

Other debtors

710,356

1,238,768

1,664,383

2,288,868

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

31.12.23

£

Bank loans and overdrafts

275,713

547,721

Trade creditors

342,586

214,481

Taxation and social security

498,864

786,717

Other creditors

607,911

552,816

1,725,074

2,101,735

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.6.25

31.12.23

£

Other creditors

80,667

298,072

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.25

31.12.23

£

Bank overdrafts

275,713

547,721

The balance of £275,713 disclosed within bank overdrafts represents the balance on the company's Confidential Invoice Discounting (CID) Facility with Close Brother Limited - Sale Finance as at 30 June 2025. Monies are advanced to the company based on sales invoices raised in accordance with the Sales Ledger Finance Agreement. Close Brother Limited has a Fixed and Floating charge on all the assets of the company against the facility.

11.	FINANCIAL COMMITMENTS

Operating lease commitments not included in the balance sheet amount to £39,960 (2023: £39,960).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 June 2025 and the year ended 31 December 2023:

30.6.25

31.12.23

£

M Hall

Balance outstanding at start of period

679,165

486,659

Amounts advanced

-

192,506

Amounts repaid

(375,792

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

303,373

679,165