REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
FOR |
LIQUIDTHINKER LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
FOR |
LIQUIDTHINKER LIMITED |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LIQUIDTHINKER LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
17 Moor Park Avenue |
Preston |
Lancashire |
PR1 6AS |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
BALANCE SHEET |
30TH NOVEMBER 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings | 11 | 2,593,268 | 2,241,293 |
SHAREHOLDERS' FUNDS |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
BALANCE SHEET - continued |
30TH NOVEMBER 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Liquidthinker Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced value of goods and services provided in the year. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been fully amortised. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amorotised cost using the effective interest rate method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st December 2022 |
and 30th November 2023 |
AMORTISATION |
At 1st December 2022 |
and 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st December 2022 |
Additions |
At 30th November 2023 |
DEPRECIATION |
At 1st December 2022 |
Charge for year |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st December 2022 |
Additions |
Revaluations | 40,000 |
At 30th November 2023 |
NET BOOK VALUE |
At 30th November 2023 |
At 30th November 2022 |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 30th November 2023 is represented by: |
£ |
Valuation in 2016 | 150,554 |
Valuation in 2017 | 57,635 |
Valuation in 2019 | 132,000 |
Valuation in 2020 | 120,779 |
Valuation in 2021 | 102,800 |
Valuation in 2022 | 182,288 |
Valuation in 2023 | 40,000 |
Cost | 2,184,996 |
2,971,052 |
If investment properties had not been revalued they would have been included at the following historical cost: |
30.11.23 | 30.11.22 |
£ | £ |
Cost | 2,184,996 | 1,838,944 |
Investment properties were valued on an open market basis on 30th November 2023 by the directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
9. | PROVISIONS FOR LIABILITIES |
30.11.23 | 30.11.22 |
£ | £ |
Deferred tax |
Accelerated Capital Allowances | 7,033 | 8,998 |
Investment property gains | 196,514 | 186,514 |
203,547 | 195,512 |
Deferred |
tax |
£ |
Balance at 1st December 2022 |
Charge to Statement of Income and Retained Earnings during year |
Balance at 30th November 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1st December 2022 | 2,241,293 | 706,501 | 2,947,794 |
Profit for the year | 691,975 | 691,975 |
Dividends | (300,000 | ) | (300,000 | ) |
Transfer of Revaluations | (40,000 | ) | 40,000 | - |
At 30th November 2023 | 2,593,268 | 746,501 | 3,339,769 |
LIQUIDTHINKER LIMITED (REGISTERED NUMBER: 06006415) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a directors subsisted during the years ended 30th November 2023 and 30th November 2022: |
30.11.23 | 30.11.22 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The maximum balance the Directors Loan Account was overdrawn by during the year was £101,339. Interest has been charged at the HMRC approved interest rate on the outstanding |
balance. |