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Company Registration No. 04579197 (England and Wales)
Thinking Hands Ltd Unaudited accounts for the year ended 31 October 2023
Thinking Hands Ltd Unaudited accounts Contents
Page
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Thinking Hands Ltd Company Information for the year ended 31 October 2023
Directors
Mr J M Lawrence Mrs R A Lawrence
Secretary
Mrs R A Lawrence
Company Number
04579197 (England and Wales)
Registered Office
Rose Cottage 79C South Street South Molton Devon EX36 4AG England
Accountants
Cosmos Accounting Limited 82 Queensway Tiverton Devon EX16 6JQ
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Thinking Hands Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
32,544 
25,292 
Current assets
Inventories
5,000 
5,000 
Cash at bank and in hand
13,018 
23,493 
18,018 
28,493 
Creditors: amounts falling due within one year
(21,547)
(24,042)
Net current (liabilities)/assets
(3,529)
4,451 
Total assets less current liabilities
29,015 
29,743 
Creditors: amounts falling due after more than one year
(16,191)
(19,005)
Net assets
12,824 
10,738 
Capital and reserves
Called up share capital
2 
2 
Share premium
9,998 
9,998 
Profit and loss account
2,824 
738 
Shareholders' funds
12,824 
10,738 
For the year ending 31 October 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 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 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 of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by
Mr J M Lawrence Director Company Registration No. 04579197
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Thinking Hands Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Thinking Hands Ltd is a private company, limited by shares, registered in England and Wales, registration number 04579197. The registered office is Rose Cottage, 79C South Street, South Molton, Devon, EX36 4AG, England.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Plant & machinery
15% reducing balance basis
Fixtures & fittings
15% reducing balance basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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Thinking Hands Ltd Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
45,419 
13,493 
58,912 
Additions
11,046 
- 
11,046 
At 31 October 2023
56,465 
13,493 
69,958 
Depreciation
At 1 November 2022
20,821 
12,799 
33,620 
Charge for the year
3,690 
104 
3,794 
At 31 October 2023
24,511 
12,903 
37,414 
Net book value
At 31 October 2023
31,954 
590 
32,544 
At 31 October 2022
24,598 
694 
25,292 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,527 
2,514 
Trade creditors
7,168 
5,444 
Taxes and social security
4,999 
8,658 
Other creditors
291 
960 
Loans from directors
5,362 
5,266 
Accruals
1,200 
1,200 
21,547 
24,042 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,191 
19,005 
7
Average number of employees
During the year the average number of employees was 3 (2022: 4).
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