Registered number
11279466
Theravada Solutions Ltd
Unaudited Filleted Accounts
31 December 2024
Theravada Solutions Ltd
Registered number: 11279466
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,465 7,758
Tangible assets 4 37,471 40,810
43,936 48,568
Current assets
Stocks 3,552 55,743
Debtors 5 1,093,114 959,864
Cash at bank and in hand 108,461 606,764
1,205,127 1,622,371
Creditors: amounts falling due within one year 6 (399,516) (809,385)
Net current assets 805,611 812,986
Total assets less current liabilities 849,547 861,554
Creditors: amounts falling due after more than one year 7 (335,087) (339,555)
Provisions for liabilities - (12,142)
Net assets 514,460 509,857
Capital and reserves
Called up share capital 113 113
Share premium 42,522 42,522
Profit and loss account 471,825 467,222
Shareholders' funds 514,460 509,857
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stephen Tiley
Director
Approved by the board on 30 December 2025
Theravada Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 14
3 Intangible fixed assets £
Domain Names:
Cost
At 1 January 2024 12,930
At 31 December 2024 12,930
Amortisation
At 1 January 2024 5,172
Provided during the year 1,293
At 31 December 2024 6,465
Net book value
At 31 December 2024 6,465
At 31 December 2023 7,758
Domain names are being written off in equal annual instalments over their estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 56,901
Additions 9,989
At 31 December 2024 66,890
Depreciation
At 1 January 2024 16,091
Charge for the year 13,328
At 31 December 2024 29,419
Net book value
At 31 December 2024 37,471
At 31 December 2023 40,810
5 Debtors 2024 2023
£ £
Trade debtors 548,288 531,773
Deferred tax asset 29,678 -
Other debtors 515,148 428,091
1,093,114 959,864
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 67,450 164,509
Amounts owed to group undertakings and undertakings in which the company has a participating interest 135,982 135,982
Taxation and social security costs 28,509 25,128
Other creditors 167,575 483,766
399,516 809,385
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 25,706 30,174
Amounts owed to group undertakings and undertakings in which the company has a participating interest 309,381 309,381
335,087 339,555
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R. Craig
Share purchase loan 309,381 - - 309,381
309,381 - - 309,381
9 Controlling party
The ultimate controlling party is Stephen Tiley by virtue of his shareholding in Theravada Holdings Ltd, a company incorporated in Ireland.
10 Other information
Theravada Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
87 Firs Park Avenue
Winchmore Hill
London
N21 2PU
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