Acorah Software Products - Accounts Production 12.4.002 false true 1 January 2021 31 December 2021 31 December 2021 04118051 Mr Andrew Boyle Mr Nic Burkinshaw Mrs Karen Boyle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04118051 2020-12-31 04118051 2021-12-31 04118051 2021-01-01 2021-12-31 04118051 frs-core:CurrentFinancialInstruments 2021-12-31 04118051 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 04118051 frs-core:Non-currentFinancialInstruments 2021-12-31 04118051 frs-core:Non-currentFinancialInstruments 2021-01-01 2021-12-31 04118051 frs-core:CurrentFinancialInstruments 2021-01-01 2021-12-31 04118051 frs-core:CurrentFinancialInstruments 2021-12-31 04118051 frs-core:AfterOneYear 2021-01-01 2021-12-31 04118051 frs-core:BetweenOneFiveYears 2021-01-01 2021-12-31 04118051 frs-core:BetweenOneFiveYears 2021-12-31 04118051 frs-core:ComputerEquipment 2021-12-31 04118051 frs-core:ComputerEquipment 2021-01-01 2021-12-31 04118051 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Registered number: 04118051
Thinnovation Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2021
Maurice J Bushell & Co Ltd.

Chartered Accountants

Units 4 & 5 Brightwell Barns
Waldringfield Road
Brightwell
Suffolk
IP10 0BJ
Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5
Statement of Changes in Equity 6
Notes to the Financial Statements 7—8
Page 1
Company Information
Directors Mr Andrew Boyle
Mr Nic Burkinshaw
Secretary Mrs Karen Boyle
Company Number 04118051
Registered Office Units 4 & 5 Brightwell Barns
Waldringfield Road
Brightwell
Ipswich
IP10 0BJ
Accountants Maurice J Bushell & Co Ltd.
Chartered Accountants
Units 4 & 5 Brightwell Barns
Waldringfield Road
Brightwell
Suffolk
IP10 0BJ
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2021 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal Activity
The company's principal activity continues to be that of hardware consultancy.

Directors
The directors who held office during the year were as follows:
Mr Andrew Boyle
Mr Nic Burkinshaw
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Andrew Boyle
Director
5 September 2022
Page 2
Page 3
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Thinnovation Limited For The Year Ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Thinnovation Limited For The Year Ended 31 December 2021 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Thinnovation Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Thinnovation Limited and state those matters that we have agreed to state to the directors of Thinnovation Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thinnovation Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Thinnovation Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Thinnovation Limited . You consider that Thinnovation Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Thinnovation Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
5 September 2022
Maurice J Bushell & Co Ltd.
Chartered Accountants
Units 4 & 5 Brightwell Barns
Waldringfield Road
Brightwell
Suffolk
IP10 0BJ
Page 3
Page 4
Profit and Loss Account
2021 2020
Notes £ £
TURNOVER 212 1,495
Cost of sales (504 ) (2,276 )
GROSS LOSS (292 ) (781 )
Administrative expenses (834 ) (3,369 )
OPERATING LOSS (1,126 ) (4,150 )
Interest payable and similar charges (84 ) (59 )
LOSS BEFORE TAXATION (1,210 ) (4,209 )
Tax on Loss - 1,834
LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR (1,210 ) (2,375 )
The notes on pages 7 to 8 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2021 2020
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 4 20 -
Cash at bank and in hand 521 4,205
541 4,205
Creditors: Amounts Falling Due Within One Year 5 (24,077 ) (26,531 )
NET CURRENT ASSETS (LIABILITIES) (23,536 ) (22,326 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,536 ) (22,326 )
NET LIABILITIES (23,536 ) (22,326 )
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account (23,538 ) (22,328 )
SHAREHOLDERS' FUNDS (23,536) (22,326)
For the year ending 31 December 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Andrew Boyle
Director
5 September 2022
The notes on pages 7 to 8 form part of these financial statements.
Page 5
Page 6
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2020 2 (19,953 ) (19,951)
Loss for the year and total comprehensive income - (2,375 ) (2,375)
As at 31 December 2020 and 1 January 2021 2 (22,328 ) (22,326)
Loss for the year and total comprehensive income - (1,210 ) (1,210)
As at 31 December 2021 2 (23,538 ) (23,536)
Page 6
Page 7
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% on cost
1.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2020: 2)
3 2
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3. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2021 4,376
As at 31 December 2021 4,376
Depreciation
As at 1 January 2021 4,376
As at 31 December 2021 4,376
Net Book Value
As at 31 December 2021 -
As at 1 January 2021 -
4. Debtors
2021 2020
£ £
Due within one year
VAT 20 -
20 -
5. Creditors: Amounts Falling Due Within One Year
2021 2020
£ £
VAT - 1,243
Accruals and deferred income 1,000 950
Directors' loan accounts 23,077 24,338
24,077 26,531
6. Share Capital
2021 2020
Allotted, Called up and fully paid 2 2
7. General Information
Thinnovation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04118051 . The registered office is Units 4 & 5 Brightwell Barns, Waldringfield Road, Brightwell, Ipswich, IP10 0BJ.
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