Thinstripe Limited 10810634 false 2023-07-01 2024-03-31 2024-03-31 The principal activity of the company is computer consultancy Digita Accounts Production Advanced 6.30.9574.0 true 10810634 2023-07-01 2024-03-31 10810634 2024-03-31 10810634 bus:OrdinaryShareClass1 bus:OtherShareType 2024-03-31 10810634 bus:OrdinaryShareClass2 bus:OtherShareType 2024-03-31 10810634 core:CurrentFinancialInstruments 2024-03-31 10810634 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10810634 core:FurnitureFittingsToolsEquipment 2024-03-31 10810634 bus:SmallEntities 2023-07-01 2024-03-31 10810634 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-03-31 10810634 bus:FullAccounts 2023-07-01 2024-03-31 10810634 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-03-31 10810634 bus:RegisteredOffice 2023-07-01 2024-03-31 10810634 bus:CompanySecretary1 2023-07-01 2024-03-31 10810634 bus:Director1 2023-07-01 2024-03-31 10810634 bus:OrdinaryShareClass1 bus:OtherShareType 2023-07-01 2024-03-31 10810634 bus:OrdinaryShareClass2 bus:OtherShareType 2023-07-01 2024-03-31 10810634 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-03-31 10810634 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-03-31 10810634 core:PlantMachinery 2023-07-01 2024-03-31 10810634 countries:England 2023-07-01 2024-03-31 10810634 2023-06-30 10810634 core:FurnitureFittingsToolsEquipment 2023-06-30 10810634 2022-07-01 2023-06-30 10810634 2023-06-30 10810634 bus:OrdinaryShareClass1 bus:OtherShareType 2023-06-30 10810634 bus:OrdinaryShareClass2 bus:OtherShareType 2023-06-30 10810634 core:CurrentFinancialInstruments 2023-06-30 10810634 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10810634 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10810634

Thinstripe Limited

Annual Report and Unaudited Cessation Financial Statements

for the Period from 1 July 2023 to 31 March 2024

 

Thinstripe Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Thinstripe Limited

Company Information

Director

Mr Adrian Cumiskey

Company secretary

Mrs Christina Siow Hui Cumiskey

Registered office

27 Gorham Drive
St. Albans
Hertfordshire
AL1 2HU

Accountants

RS Partnership Ltd
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Thinstripe Limited

(Registration number: 10810634)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,032

Current assets

 

Debtors

5

-

788

Cash at bank and in hand

 

52,356

52,988

 

52,356

53,776

Creditors: Amounts falling due within one year

6

(40,472)

(1,010)

Net current assets

 

11,884

52,766

Total assets less current liabilities

 

11,884

53,798

Provisions for liabilities

-

(258)

Net assets

 

11,884

53,540

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

11,882

53,538

Shareholders' funds

 

11,884

53,540

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 April 2024
 

.........................................
Mr Adrian Cumiskey
Director

 

Thinstripe Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
27 Gorham Drive
St. Albans
Hertfordshire
AL1 2HU

These financial statements were authorised for issue by the director on 17 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Thinstripe Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Thinstripe Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Thinstripe Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

2,490

2,490

Disposals

(2,490)

(2,490)

At 31 March 2024

-

-

Depreciation

At 1 July 2023

1,458

1,458

Charge for the period

193

193

Eliminated on disposal

(1,651)

(1,651)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 30 June 2023

1,032

1,032

5

Debtors

2024
£

2023
£

Other debtors

-

481

Directors Loan Account

-

307

-

788

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

-

1,010

Directors Loan Account

40,472

-

40,472

1,010

 

Thinstripe Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

 

2

2

2

2