IRIS Accounts Production v23.3.1.45 09365197 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093651972022-12-31093651972023-12-31093651972023-01-012023-12-31093651972021-12-31093651972022-01-012022-12-31093651972022-12-3109365197ns10:Originalns15:EnglandWales2023-01-012023-12-3109365197ns14:PoundSterlingns10:Original2023-01-012023-12-3109365197ns10:Originalns10:Director12023-01-012023-12-3109365197ns10:Original2023-01-012023-12-3109365197ns10:Original2023-12-3109365197ns10:Originalns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109365197ns10:Originalns10:SmallEntities2023-01-012023-12-3109365197ns10:Originalns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3109365197ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109365197ns10:SmallCompaniesRegimeForAccountsns10:Original2023-01-012023-12-3109365197ns10:Originalns10:FullAccounts2023-01-012023-12-3109365197ns10:Originalns10:OrdinaryShareClass12023-01-012023-12-3109365197ns10:Originalns10:Director22023-01-012023-12-3109365197ns10:Originalns10:RegisteredOffice2023-01-012023-12-3109365197ns10:Original2022-12-3109365197ns10:Originalns5:CurrentFinancialInstruments2023-12-3109365197ns10:Originalns5:CurrentFinancialInstruments2022-12-3109365197ns10:Originalns5:Non-currentFinancialInstruments2023-12-3109365197ns10:Originalns5:Non-currentFinancialInstruments2022-12-3109365197ns5:ShareCapitalns10:Original2023-12-3109365197ns5:ShareCapitalns10:Original2022-12-3109365197ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-12-3109365197ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3109365197ns10:Originalns5:ComputerEquipment2023-01-012023-12-3109365197ns10:Original2022-01-012022-12-3109365197ns10:Originalns5:ComputerEquipment2022-12-3109365197ns10:Originalns5:ComputerEquipment2023-12-3109365197ns10:Originalns5:ComputerEquipment2022-12-3109365197ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109365197ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109365197ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-3109365197ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-12-3109365197ns10:Originalns10:OrdinaryShareClass12023-12-3109365197ns10:Original1ns10:Director12022-12-3109365197ns10:Original1ns10:Director12021-12-3109365197ns10:Original1ns10:Director12023-01-012023-12-3109365197ns10:Original1ns10:Director12022-01-012022-12-3109365197ns10:Original1ns10:Director12023-12-3109365197ns10:Original1ns10:Director12022-12-31
REGISTERED NUMBER: 09365197 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THINKING PRODUCTS LTD.

THINKING PRODUCTS LTD. (REGISTERED NUMBER: 09365197)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THINKING PRODUCTS LTD.

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: Mr M Hughes
Mrs S M Hughes





REGISTERED OFFICE: Yew Tree Cottage
20b Wood End
Little Horwood
Milton Keynes
Buckinghamshire
MK17 0PE





REGISTERED NUMBER: 09365197 (England and Wales)





ACCOUNTANTS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

THINKING PRODUCTS LTD. (REGISTERED NUMBER: 09365197)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,233 2,957

CURRENT ASSETS
Stocks - 91
Debtors 5 3,563 1,151
Cash at bank 1,192 1,789
4,755 3,031
CREDITORS
Amounts falling due within one year 6 3,790 5,371
NET CURRENT ASSETS/(LIABILITIES) 965 (2,340 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,198 617

CREDITORS
Amounts falling due after more than
one year

7

(2,500

)

(2,500

)

PROVISIONS FOR LIABILITIES (595 ) (498 )
NET ASSETS/(LIABILITIES) 103 (2,381 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 3 (2,481 )
SHAREHOLDERS' FUNDS 103 (2,381 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THINKING PRODUCTS LTD. (REGISTERED NUMBER: 09365197)

BALANCE SHEET - continued
31 December 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:





Mr M Hughes - Director


THINKING PRODUCTS LTD. (REGISTERED NUMBER: 09365197)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023


1. STATUTORY INFORMATION

Thinking Products Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

THINKING PRODUCTS LTD. (REGISTERED NUMBER: 09365197)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 8,050
DEPRECIATION
At 1 January 2023 5,093
Charge for year 724
At 31 December 2023 5,817
NET BOOK VALUE
At 31 December 2023 2,233
At 31 December 2022 2,957

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 3,563 -

Amounts falling due after more than one year:
Trade debtors - 1,151

Aggregate amounts 3,563 1,151

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 2,250 353
Other creditors 1,540 5,018
3,790 5,371

THINKING PRODUCTS LTD. (REGISTERED NUMBER: 09365197)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 2,500 2,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr M Hughes
Balance outstanding at start of year - -
Amounts advanced 1,062 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,062 -

10. ULTIMATE CONTROLLING PARTY

Mr M Hughes has the controlling interest in the company.