Thepes_Ltd_31_Jul_2025_companies_house_set_of

ThePes Limited

Statement of Financial Position

31 July 2025

		2025		2024
	Note	£		£
Fixed assets
Intangible assets	5	5,386		5,682
Tangible assets	6	48,590		53,551
		53,976		59,233
Current assets
Debtors	7	724,746		714,821
Cash at bank and in hand		236,850		220,683
		961,596		935,504
Creditors: amounts falling due within one year	8	(263,726	)	(238,817	)
Net current assets		697,870		696,687
Total assets less current liabilities		751,846		755,920
Creditors: amounts falling due after more than one year	9	(67,286	)	(104,022	)
Provisions for liabilities		(1,651	)	(1,682	)
Net assets		682,909		650,216
Capital and reserves
Called up share capital		1,000		1,000
Profit and loss account		681,909		649,216
Shareholders funds		682,909		650,216

For the year ending

31 July 2025

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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

29 April 2026

, and are signed on behalf of the board by:

Mr N Ingham

Director

Company registration number:

08135573

ThePes Limited

Notes to the Financial Statements

Year ended

31 July 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

Unit 8 Laceby Business Park

Grimsby Road

Laceby

North East Lincolnshire

DN37 7DP

, United Kingdom.

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'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

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.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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.

Amortisation 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:

Other intangible assets

Straight line over 20 years

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.

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:

Fixtures and fittings	20% straight line
Office equipment	25% straight line
Motor vehicles	25% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

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

(2024:

5 Intangible assets

	Other intangible assets
	£
Cost
At 1 August 2024 and 31 July 2025	5,929
Amortisation
At 1 August 2024	247
Charge	296
At 31 July 2025	543
Carrying amount
At 31 July 2025	5,386
At 31 July 2024	5,682

6 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 August 2024	83,609
Additions	10,383
At 31 July 2025	93,992
Depreciation
At 1 August 2024	30,058
Charge	15,344
At 31 July 2025	45,402
Carrying amount
At 31 July 2025	48,590
At 31 July 2024	53,551

7 Debtors

	2025	2024
	£	£
Trade debtors	300,418	292,328
Amounts owed by group undertakings and undertakings in which the company has a participating interest	416,796	416,796
Other debtors	7,532	5,697
	724,746	714,821

8 Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	13,000	13,000
Trade creditors	28,458	23,400
Taxation and social security	213,699	185,579
Other creditors	8,569	16,838
	263,726	238,817

There is a fixed and floating charge over the company's assets by Barclays Bank PLC in relation to the outstanding loan.

9 Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	67,286	101,272
Other creditors	-	2,750
	67,286	104,022

There is a fixed and floating charge over the company's assets by Barclays Bank PLC in relation to the outstanding loan.