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Registration number: 13919502

Tests For Personality Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

Tests For Personality Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Tests For Personality Ltd

Company Information

Directors

Ms D M Christie

Mr J A Roan

Mr M J Richardson

Registered office

83 Ducie Street
Manchester
M1 2JQ

Accountants

10. Chartered Accountants
10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

 

Tests For Personality Ltd

(Registration number: 13919502)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

-

13,880

Current assets

 

Debtors

172

100

Cash at bank and in hand

 

93

525

 

265

625

Creditors: Amounts falling due within one year

(7,493)

(21,848)

Net current liabilities

 

(7,228)

(21,223)

Total assets less current liabilities

 

(7,228)

(7,343)

Accruals and deferred income

 

(80)

(606)

Net liabilities

 

(7,308)

(7,949)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(7,408)

(8,049)

Shareholders' deficit

 

(7,308)

(7,949)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option to not file the profit and loss account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 21 November 2024 and signed on its behalf by:
 

 

Tests For Personality Ltd

(Registration number: 13919502)
Abridged Balance Sheet as at 29 February 2024

.........................................
Ms D M Christie
Director

 

Tests For Personality Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
83 Ducie Street
Manchester
M1 2JQ

These financial statements were authorised for issue by the Board on 21 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end Global Health Tests Ltd (a related party) was owed £7,493.07 from the company. Global Health Tests confirms that they will not call this debt in within 12 months of the date of signing. Based on this, the accounts have been prepared on the going concern basis.

 

Tests For Personality Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software

10 years straight line

 

Tests For Personality Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Amortisation expense

-

1,540

 

Tests For Personality Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

5

Intangible assets

Total
£

Cost or valuation

At 1 March 2023

15,419

Disposals

(15,419)

At 29 February 2024

-

Amortisation

At 1 March 2023

1,539

Amortisation eliminated on disposals

(1,539)

At 29 February 2024

-

Carrying amount

At 29 February 2024

-

At 28 February 2023

13,880