Company registration number 09600186 (England and Wales)
THINK SOFTWARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
THINK SOFTWARE LIMITED
COMPANY INFORMATION
Directors
Mr P Hill
Mr S Marshall
(Appointed 8 August 2024)
Mr C D Garford
(Appointed 8 August 2024)
Company number
09600186
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Virgin Money Plc
Jubilee House
Gosforth
Newcastle upon Tyne
NE3 4PL
THINK SOFTWARE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
THINK SOFTWARE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THINK SOFTWARE LIMITED FOR THE YEAR ENDED 31 MAY 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Think Software Limited for the year ended 31 May 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm 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 https://www.icaew.com/regulation.
This report is made solely to the board of directors of Think Software Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Think Software Limited and state those matters that we have agreed to state to the board of directors of Think Software 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 Think Software Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Think Software Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Think Software Limited. You consider that Think Software Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Think Software 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 statutory financial statements.
Ormerod Rutter Limited
29 August 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THINK SOFTWARE LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
468
368
Current assets
Debtors
3
167,855
121,677
Cash at bank and in hand
254,685
398,745
422,540
520,422
Creditors: amounts falling due within one year
4
(88,866)
(102,208)
Net current assets
333,674
418,214
Net assets
334,142
418,582
Capital and reserves
Called up share capital
5
1,000
1,000
Share premium account
29,790
29,790
Profit and loss reserves
303,352
387,792
Total equity
334,142
418,582
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 August 2024 and are signed on its behalf by:
Mr P Hill
Director
Company registration number 09600186 (England and Wales)
THINK SOFTWARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 3 -
1
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
7
2
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 June 2023
1,125
24,982
26,107
Additions
174
174
At 31 May 2024
1,125
25,156
26,281
Depreciation and impairment
At 1 June 2023
757
24,982
25,739
Depreciation charged in the year
74
74
At 31 May 2024
831
24,982
25,813
Carrying amount
At 31 May 2024
294
174
468
At 31 May 2023
368
368
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
137,440
111,012
Other debtors
2,666
2,724
140,106
113,736
Deferred tax asset
27,749
7,941
167,855
121,677
THINK SOFTWARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
216
17,900
Taxation and social security
35,127
31,094
Other creditors
53,523
53,214
88,866
102,208
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
200
200
200
200
Ordinary B of £1 each
300
300
300
300
Ordinary C of £1 each
250
250
250
250
Ordinary D of £1 each
200
200
200
200
Ordinary E of £1 each
50
50
50
50
1,000
1,000
1,000
1,000
6
Share-based payment transactions
During 2020, the company issued share options under an Enterprise Management Incentive Scheme to certain key employees and directors. The scheme is an equity settled scheme and options granted under the scheme have a maximum life of ten years.
The key terms and conditions relating to the options issued within Think Software Limited under the scheme are as follows:
Options issued during the year
Options outstanding at the end of the year
Weighted average exercise price (£)
Vesting conditions
Contractual life of options
0
9
9
Annual turnover > £3m Share sale
10 years from grant date
7
Ultimate controlling party
There is no ultimate controlling party.