Company Registration No. 02431547 (England and Wales)
Thorpe Associates Limited
Unaudited accounts
for the year ended 31 March 2023
Thorpe Associates Limited
Unaudited accounts
Contents
Thorpe Associates Limited
Company Information
for the year ended 31 March 2023
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 2023
Intangible assets
8,454
6,070
Cash at bank and in hand
969,905
493,168
Creditors: amounts falling due within one year
(829,058)
(921,639)
Net current assets
820,152
280,072
Net assets
829,289
288,299
Called up share capital
100
100
Profit and loss account
829,189
288,199
Shareholders' funds
829,289
288,299
For the year ending 31 March 2023 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.
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 23 August 2023 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 2023
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 2023
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Thorpe Associates Limited
Notes to the Accounts
for the year ended 31 March 2023
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
416,653
650,655
Amounts due from group undertakings etc.
181,760
-
Accrued income and prepayments
80,892
31,085
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
522,521
442,963
Amounts owed to group undertakings and other participating interests
-
47,562
Taxes and social security
120,503
238,151
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Average number of employees
During the year the average number of employees was 9 (2022: 9).
