|
|
2024 |
|
2023 |
|
|
£ |
£ |
|
£ |
£ |
Fixed assets |
|
|
107,158 |
|
|
107,817 |
Current assets |
|
246 |
|
|
20 |
|
Creditors: amount falling due within one year |
|
(39,608) |
|
|
(39,589) |
|
Net current assets
|
|
|
(39,362)
|
|
|
(39,569)
|
Total assets less current liabilities
|
|
|
67,796 |
|
|
68,248 |
Creditors: amount falling due after more than one year |
|
|
(7,355) |
|
|
(17,592) |
Net assets
|
|
|
60,441 |
|
|
50,656 |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
60,441 |
|
|
50,656 |
|
NOTES TO THE ACCOUNTS
General Information
ThinkRoom Limited is a private company, limited by shares, registered in England and Wales, registration number 11401049, registration address Suite 99, Carlton House, 19 West St, Epsom, Surrey, KT18 7RL.
The presentation currency is £ sterling.
1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
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:
Investments
Investments for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date. The investment relates to 1 Share in Grindstone Accelerator (Pty) Ltd, a South Africa registered entity
|
2. |
Tangible fixed assets
Cost or valuation |
Computer Equipment |
|
Total |
|
£ |
|
£ |
At 01 July 2023 |
1,979 |
|
1,979 |
Additions |
- |
|
- |
Disposals |
- |
|
- |
At 30 June 2024 |
1,979 |
|
1,979 |
Depreciation |
At 01 July 2023 |
440 |
|
440 |
Charge for year |
659 |
|
659 |
On disposals |
- |
|
- |
At 30 June 2024 |
1,099 |
|
1,099 |
Net book values |
Closing balance as at 30 June 2024 |
880 |
|
880 |
Opening balance as at 01 July 2023 |
1,539 |
|
1,539 |
|
3. |
Investments
Cost |
Other investments other than loans |
|
Total |
|
£ |
|
£ |
At 01 July 2023 |
106,278 |
|
106,278 |
Additions |
- |
|
- |
Transfer to/from tangible fixed assets |
0 |
|
0 |
Disposals |
- |
|
- |
At 30 June 2024 |
106,278 |
|
106,278 |
|
4. |
Average number of employees
Average number of employees during the year was 1 (2023 : 1).
|
|
Directors’ benefits: advances, credit and guarantees
Catherine Young
Included in creditors is an amount due to be paid by the company to one of its directors. The amount is an advance made to the company by Catherine Young, a director of the company.
The following conditions are attached to the amount payable to Catherine Young:
- There is no interest due to be paid on any outstanding amount
- No fixed date has been set for the amount to be repaid by the company.
Particulars |
|
2023 £ |
|
2023 £ |
Opening balance |
|
896 |
|
1,074 |
Drawings |
|
(51) |
|
(14,178) |
Funds Introduced |
|
4,200 |
|
14,000 |
Closing balance |
|
5,045 |
|
896 |
|
6. |
Creditors: amount falling due within one year
Particulars |
|
Current £ |
Bank Overdraft |
|
15,390 |
Business Bounce Back Loan < 1 year |
|
11,991 |
Directors Loan Account: C Young |
|
5,045 |
Company Credit Card |
|
2,896 |
Accrued Expenses |
|
2,500 |
Corporation Tax |
|
1,786 |
|
|
39,608 |
|
7. |
Guarantees, contingencies and other financial commitments
Total financial commitments, included in the balance sheet amount to £19,346 (2023 - £29,583). This is related to a Business Bounce Back Loan provided by the Government at an interest rate of 2.5% per annum
|
For the year ended 30 June 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 year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 18 September 2024 and were signed by: -------------------------------- Catherine YOUNG Director |
2
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