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Registered Number: 11777161
England and Wales

 

 

 

THINK ELECTRICAL SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors Mr C Boddy
Mr G Metcalfe
Registered Number 11777161
Registered Office Suite 6
Madison Offices
Pudsey
West Yorkshire
LS28 6LE
Accountants UWM Accountants
UWM House
6 Fusion Court
Leeds
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 22,547    14,560 
22,547    14,560 
Current assets      
Debtors 4 409,780    314,291 
Cash at bank and in hand 234,092    229,676 
643,872    543,967 
Creditors: amount falling due within one year 5 (194,587)   (189,493)
Net current assets 449,285    354,474 
 
Total assets less current liabilities 471,832    369,034 
Provisions for liabilities 6 (4,066)   (2,501)
Net assets 467,766    366,533 
 

Capital and reserves
     
Called up share capital 20    20 
Profit and loss account 467,746    366,513 
Shareholders' funds 467,766    366,533 
 


For the year ended 31 January 2024 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 22 October 2024 and were signed on its behalf by:


-------------------------------
Mr C Boddy
Director
2
General Information
Think Electrical Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 11777161, registration address Suite 6 , Madison Offices, Pudsey, West Yorkshire, LS28 6LE.

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.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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.
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:
Plant and machinery etc 25% RB
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 February 2023 31,163    31,163 
Additions 15,500    15,500 
Disposals  
At 31 January 2024 46,663    46,663 
Depreciation
At 01 February 2023 16,603    16,603 
Charge for year 7,513    7,513 
On disposals  
At 31 January 2024 24,116    24,116 
Net book values
Closing balance as at 31 January 2024 22,547    22,547 
Opening balance as at 01 February 2023 14,560    14,560 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 203,168    139,922 
Other Debtors 206,612    174,369 
409,780    314,291 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 105,783    103,448 
Taxation and Social Security 70,216    69,468 
Other Creditors 18,588    16,577 
194,587    189,493 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 4,066    2,501 
4,066    2,501 

3