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Registered Number: 07291125
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

THINKS INSIGHT AND STRATEGY (BRITAIN THINKS) LIMITED

Directors Mr B Shimshon
Ms V L Cooke
Registered Number 07291125
Registered Office Metherell Gard
Morval
LOOE
Cornwall
PL13 1PN
Accountants Metherell Gard
Old Memorial Hall
Morval
Looe
PL13 1PN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2023
Principal activities
Principal activity of the company during the financial year was that of Market research and public opinion polling.
Directors
The directors who served the company throughout the year were as follows:
Mr B Shimshon
Ms V L Cooke
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr B Shimshon
Director

Date approved: 13 September 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 3,250    3,750 
Tangible fixed assets 4 92,013    83,112 
95,263    86,862 
Current assets      
Stocks 5 288,280    738,973 
Debtors 6 956,855    1,286,468 
Cash at bank and in hand 1,116,152    773,085 
2,361,287    2,798,526 
Creditors: amount falling due within one year 7 (1,791,715)   (1,567,080)
Net current assets 569,572    1,231,446 
 
Total assets less current liabilities 664,835    1,318,308 
Provisions for liabilities 8 (23,882)   (20,991)
Net assets 640,953    1,297,317 
 

Capital and reserves
     
Called up share capital 1,162    1,162 
Share premium account 9 11,040    11,040 
Profit and loss account 628,751    1,285,115 
Shareholders' funds 640,953    1,297,317 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 September 2024 and were signed on its behalf by:


-------------------------------
Mr B Shimshon
Director
3
General Information
Thinks Insight and Strategy (Britain Thinks) Limited is a private company, limited by shares, registered in England and Wales, registration number 07291125, registration address Metherell Gard, Morval, LOOE, Cornwall, PL13 1PN .

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Equipment 25% Reducing Balance
Stocks
Stocks are uninvoiced work in progress as at the year end and are valued at anticipated full sales value excluding VAT.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 78 (2022 : 69).
3.

Intangible fixed assets

Cost Other intangible assets   Total
  £   £
At 01 January 2023 10,000    10,000 
Additions  
Disposals  
At 31 December 2023 10,000    10,000 
Amortisation
At 01 January 2023 6,250    6,250 
Charge for year 500    500 
On disposals  
At 31 December 2023 6,750    6,750 
Net book values
At 31 December 2023 3,250    3,250 
At 31 December 2022 3,750    3,750 


4.

Tangible fixed assets

Cost or valuation Equipment   Total
  £   £
At 01 January 2023 255,656    255,656 
Additions 39,572    39,572 
Disposals  
At 31 December 2023 295,228    295,228 
Depreciation
At 01 January 2023 172,544    172,544 
Charge for year 30,671    30,671 
On disposals  
At 31 December 2023 203,215    203,215 
Net book values
Closing balance as at 31 December 2023 92,013    92,013 
Opening balance as at 01 January 2023 83,112    83,112 


5.

Stocks

2023
£
  2022
£
Work in Progress 288,280    738,973 
288,280    738,973 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 615,113    853,245 
Other Debtors 228,102    319,583 
843,215    1,172,828 

6.

Debtors: amounts falling due after one year

2023
£
  2022
£
Other Debtors 113,640    113,640 
113,640    113,640 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 406,604    346,085 
Taxation and Social Security 502,516    490,688 
Other Creditors 882,595    730,307 
1,791,715    1,567,080 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 17,482    15,791 
Provisions - Dilapidations 6,400    5,200 
23,882    20,991 

9.

Share premium account

2023
£
  2022
£
Equity Share Premium b/fwd 11,040    11,040 
11,040    11,040 

10.

Profit & Loss account

Prior to the distribution of EOT bonuses, pre-tax profit for the year totalled £1,478,936 (see Note 11).
11.

Related Party

Thinks Insight and Strategy (Britain Thinks) Ltd holds the share in CM Monitor (Britain Thinks) EOT Trustee Ltd.

CM Monitor (Britain Thinks) EOT Trustee Ltd, holds 8,645 ordinary shares and 1,737 growth shares in Thinks Insight and Strategy (Britain Thinks) Ltd.

CM Monitor (Britain Thinks) EOT Trustee Ltd waived the right to dividends in the year on the basis that the equivalent value would be paid to employees in the form of bonuses. Wages & Salaries include £631,783 of bonuses (2022: £Nil).


4