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COMPANY REGISTRATION NUMBER: 4377492
Thinking Australia Limited
Filleted Unaudited Financial Statements
27 February 2024
Thinking Australia Limited
Financial Statements
Year ended 27 February 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 3
Thinking Australia Limited
Statement of Financial Position
27 February 2024
2024
2023
Note
£
£
Current assets
Debtors
4
58,050
58,050
Creditors: amounts falling due within one year
5
( 367,247)
( 367,247)
---------
---------
Net current liabilities
( 309,197)
( 309,197)
---------
---------
Total assets less current liabilities
( 309,197)
( 309,197)
Creditors: amounts falling due after more than one year
6
( 55,608)
( 55,608)
---------
---------
Net liabilities
( 364,805)
( 364,805)
---------
---------
Capital and reserves
Called up share capital
7
5,000
5,000
Profit and loss account
( 369,805)
( 369,805)
---------
---------
Shareholders deficit
( 364,805)
( 364,805)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior period and has not made either a profit or loss.
For the year ending 27 February 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr D. L. Todd
Director
Company registration number: 4377492
Thinking Australia Limited
Notes to the Financial Statements
Year ended 27 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Sovereign House, Nelson Quay, Milford Marina, Milford Haven, Pembrokeshire, SA73 3AJ.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior period and therefore no income statement is presented within these financial statements. There have been no movements in shareholders deficit during the current year or prior period.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2024
2023
£
£
Other debtors
58,050
58,050
--------
--------
Other debtors include an amount of £nil (2023 - £nil) falling due after more than one year.
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
367,247
367,247
---------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
55,608
55,608
--------
--------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
5,000
5,000
5,000
5,000
-------
-------
-------
-------
8. Related party transactions
The company was under the control of Mr D. L. Todd , the director, throughout the current and previous year by virtue of his 100% interest in the ordinary share capital. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.