Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30truefalse2022-11-24falseNo description of principal activity5falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14503907 2022-11-23 14503907 2022-11-24 2023-11-30 14503907 2021-11-24 2022-11-23 14503907 2023-11-30 14503907 c:Director1 2022-11-24 2023-11-30 14503907 d:MotorVehicles 2022-11-24 2023-11-30 14503907 d:MotorVehicles 2023-11-30 14503907 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-24 2023-11-30 14503907 d:OfficeEquipment 2022-11-24 2023-11-30 14503907 d:OfficeEquipment 2023-11-30 14503907 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-24 2023-11-30 14503907 d:ComputerEquipment 2022-11-24 2023-11-30 14503907 d:OwnedOrFreeholdAssets 2022-11-24 2023-11-30 14503907 d:Goodwill 2022-11-24 2023-11-30 14503907 d:Goodwill 2023-11-30 14503907 d:CurrentFinancialInstruments 2023-11-30 14503907 d:Non-currentFinancialInstruments 2023-11-30 14503907 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 14503907 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 14503907 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 14503907 d:ShareCapital 2023-11-30 14503907 d:RetainedEarningsAccumulatedLosses 2023-11-30 14503907 c:OrdinaryShareClass1 2022-11-24 2023-11-30 14503907 c:OrdinaryShareClass1 2023-11-30 14503907 c:FRS102 2022-11-24 2023-11-30 14503907 c:AuditExemptWithAccountantsReport 2022-11-24 2023-11-30 14503907 c:FullAccounts 2022-11-24 2023-11-30 14503907 c:PrivateLimitedCompanyLtd 2022-11-24 2023-11-30 14503907 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-11-24 2023-11-30 14503907 e:PoundSterling 2022-11-24 2023-11-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14503907









STRANGE THOUGHTS GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2023

 
STRANGE THOUGHTS GROUP LIMITED
 

CONTENTS



Page
Accountants' report
 
1
Statement of financial position
 
2 - 3
Notes to the financial statements
 
4 - 11


 
STRANGE THOUGHTS GROUP LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STRANGE THOUGHTS GROUP LIMITED
FOR THE PERIOD ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Strange Thoughts Group Limited for the period ended 30 November 2023 which comprise  the statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Strange Thoughts Group Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Strange Thoughts Group Limited and state those matters that we have agreed to state to the director of Strange Thoughts Group Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Strange Thoughts Group Limited and its director for our work or for this report. 

It is your duty to ensure that Strange Thoughts Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Strange Thoughts Group Limited. You consider that Strange Thoughts Group Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Strange Thoughts Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Nyman Libson Paul LLP
 
124 Finchley Road
London
NW3 5JS
27 August 2024
Page 1

 
STRANGE THOUGHTS GROUP LIMITED
REGISTERED NUMBER: 14503907

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2023
Note
£
£

Fixed assets
  

Intangible assets
  
7,917

Tangible assets
 5 
29,770

  
37,687

Current assets
  

Debtors: amounts falling due within one year
 6 
17,683

Cash at bank and in hand
  
6,503

  
24,186

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 7 
(125,616)

Net current (liabilities)/assets
  
 
 
(101,430)

Total assets less current liabilities
  
(63,743)

Creditors: amounts falling due after more than one year
 8 
(30,573)

  

Net (liabilities)/assets
  
(94,316)


Capital and reserves
  

Called up share capital 
 10 
1

Profit and loss account
  
(94,317)

  
(94,316)


Page 2

 
STRANGE THOUGHTS GROUP LIMITED
REGISTERED NUMBER: 14503907
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 August 2024.




J H S Jackson
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

1.


General information

Strange Thoughts Group Ltd is a private company limited by shares and registered in England and Wales. Its registered office is 61 Bishop Road, Bristol, England, BS7 8LU. 
The company incorporated on 24 November 2022 and started trading from 1 December 2022. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the director had a reasonable expectation that the
company had adequate resources to continue in operational existence for the foreseeable future.
Thus the director continues to adopt the going concern basis of accounting in preparing the financial
statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 5

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is
Page 7

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 5.


4.


Intangible assets



Goodwill

£



Cost


Additions
7,917



At 30 November 2023

7,917






Net book value



At 30 November 2023
7,917



Page 8

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


Additions
40,690
2,058
42,748



At 30 November 2023

40,690
2,058
42,748



Depreciation


Charge for the period on owned assets
12,775
203
12,978



At 30 November 2023

12,775
203
12,978



Net book value



At 30 November 2023
27,915
1,855
29,770


6.


Debtors

2023
£


Trade debtors
15,493

Amounts owed by group undertakings
290

Other debtors
1,900

17,683



7.


Creditors: Amounts falling due within one year

2023
£

Other loans
5,758

Trade creditors
36,745

Other taxation and social security
39,969

Other creditors
39,644

Accruals and deferred income
3,500

125,616


Page 9

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
£

Other loans
30,573

30,573



9.


Loans


Analysis of the maturity of loans is given below:


2023
£

Amounts falling due within one year

Other loans
5,758


5,758


Amounts falling due 2-5 years

Other loans
30,573


30,573


36,331


Page 10

 
STRANGE THOUGHTS GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

10.


Share capital

2023
£
Allotted, called up and fully paid


1,001 Ordinary Share Capital shares of £0.001 each
1


On incorporation 1 Ordinary Share of £1 was issued at par. 
On the 24th February 1000 Ordinary A shares of 0.001p were issued at par. 


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £713. Contributions  totaling £438 were payable to the fund at the reporting date and are included in creditors. 


12.


Related party transactions

Included in the year end Other creditors balance is an amount owed by the company to the director of £30,595. This amount is unsecured, not subject to interest and is repayable on demand.

 
Page 11