Thornbird Systems Ltd
Registered number: 13740822
Statement of Financial Position
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Intangible assets 3 3,439 -
Current assets
Debtors 4 398 -
Cash at bank and in hand 2,230 10,075
2,628 10,075
Creditors: amounts falling due within one year 5 (1,407) (3,016)
Net current assets 1,221 7,059
Net assets 4,660 7,059
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,659 7,058
Shareholder's funds 4,660 7,059
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Saravanan
Director
Approved by the board on 17 September 2024
Thornbird Systems Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2024 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Intangible fixed assets £
Trademarks
Cost
Additions 4,168
At 31 March 2024 4,168
Amortisation
Provided during the period 729
At 31 March 2024 729
Net book value
At 31 March 2024 3,439
Trademarks are being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2024 2022
£ £
Other debtors 398 -
5 Creditors: amounts falling due within one year 2024 2022
£ £
Accruals 1,049 1,002
Corporation tax - 1,656
Other creditors 358 358
1,407 3,016
6 Other information
Thornbird Systems Ltd is a private company limited by shares and incorporated in England. Its registered office is:
71-75 Shelton Street
London
United Kingdom
WC2H 9JQ
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