THINK BUSINESS SUPPORT LTD.

Company Registration Number:
06441391 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

THINK BUSINESS SUPPORT LTD.

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

THINK BUSINESS SUPPORT LTD.

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 105,665 103,293
Total fixed assets: 105,665 103,293
Current assets
Debtors: 4 444,669 504,169
Cash at bank and in hand: 135,119 58,916
Total current assets: 579,788 563,085
Creditors: amounts falling due within one year: 5 (401,593) (401,618)
Net current assets (liabilities): 178,195 161,467
Total assets less current liabilities: 283,860 264,760
Creditors: amounts falling due after more than one year: 6 (46,356) (63,731)
Total net assets (liabilities): 237,504 201,029
Capital and reserves
Called up share capital: 90,000 90,000
Profit and loss account: 147,504 111,029
Shareholders funds: 237,504 201,029

The notes form part of these financial statements

THINK BUSINESS SUPPORT LTD.

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 October 2024
and signed on behalf of the board by:

Name: Mr N Lowery
Status: Director

The notes form part of these financial statements

THINK BUSINESS SUPPORT LTD.

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and machinery- 25% Reducing balance, Fixtures and fittings-25% Reducing balance, Motor vehicles- 20% Reducing balance.

Other accounting policies

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. The tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

THINK BUSINESS SUPPORT LTD.

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 63 59

THINK BUSINESS SUPPORT LTD.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 229,187
Additions 32,833
Disposals (11,500)
At 31 March 2024 250,520
Depreciation
At 01 April 2023 125,894
Charge for year 26,693
On disposals (7,732)
At 31 March 2024 144,855
Net book value
At 31 March 2024 105,665
At 31 March 2023 103,293

THINK BUSINESS SUPPORT LTD.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

THINK BUSINESS SUPPORT LTD.

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

Bank loans and overdrafts £71,441 £36,463 Trade creditors £112,683 £104,397 Corporation tax £30,902 £15,396 Other taxation £136,445 £174,471 Other creditors £50,122 £70,891

THINK BUSINESS SUPPORT LTD.

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts £23,324 £33,205 Other creditors £23,032 £30,526