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Registered Number: 11401049
England and Wales

 

 

 

THINKROOM LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Director Catherine YOUNG
Registered Number 11401049
Registered Office Suite 99, Carlton House
19 West St
Epsom
Surrey
KT18 7RL
Accountants Morgan St Ledger
Suite 99, Carlton House
19 West St
Epsom
KT18 7RL
1
  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  
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).

5.

Director’s loan

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