Company Registration No. 02431547 (England and Wales)
Thorpe Associates Limited
Unaudited accounts
for the year ended 31 March 2021
Thorpe Associates Limited
Unaudited accounts
Contents
Thorpe Associates Limited
Company Information
for the year ended 31 March 2021
Company Number
02431547 (England and Wales)
Registered Office
16 - 20 ELY
PLACE, AUDREY
HOUSE LONDON
EC1N 6SN
UNITED KINGDOM
Thorpe Associates Limited
Statement of financial position
as at 31 March 2021
Tangible assets
3,253
4,611
Investment property
10,282
15,028
Cash at bank and in hand
467,341
410,774
Creditors: amounts falling due within one year
(890,214)
(933,705)
Net current assets
347,435
127,836
Total assets less current liabilities
370,900
147,475
Provisions for liabilities
Net assets
370,900
146,599
Called up share capital
100
100
Profit and loss account
370,800
146,499
Shareholders' funds
370,900
146,599
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 December 2021 and were signed on its behalf by
Hiren Patel
Director
Company Registration No. 02431547
Thorpe Associates Limited
Notes to the Accounts
for the year ended 31 March 2021
Thorpe Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 02431547. The registered office is 16 - 20 ELY, PLACE, AUDREY, HOUSE LONDON, EC1N 6SN, UNITED KINGDOM.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Foreign currency translation
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.
Thorpe Associates Limited
Notes to the Accounts
for the year ended 31 March 2021
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be
measured reliably; and
the costs incurred and the costs to complete the contract can
be measured reliably.
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Intangible fixed assets
Total
5
Tangible fixed assets
Total
6
Average number of employees
During the year the average number of employees was 9 (2020: 22).
