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Company Registration No. 7940643 (England and Wales)
Thinkadvert Ltd Unaudited accounts for the year ended 31 March 2024
Thinkadvert Ltd Unaudited accounts Contents
Page
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Thinkadvert Ltd Company Information for the year ended 31 March 2024
Director
M Fugallo
Company Number
7940643 (England and Wales)
Registered Office
4 Scottwell Drive Scottwell Drive London NW9 6QA England
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Thinkadvert Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,089 
1,361 
Current assets
Debtors
22,335 
14,996 
Cash at bank and in hand
39,695 
27,601 
62,030 
42,597 
Creditors: amounts falling due within one year
(57,921)
(42,321)
Net current assets
4,109 
276 
Net assets
5,198 
1,637 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
5,197 
1,636 
Shareholders' funds
5,198 
1,637 
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 December 2024 and were signed on its behalf by
M Fugallo Director Company Registration No. 7940643
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Thinkadvert Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Thinkadvert Ltd is a private company, limited by shares, registered in England and Wales, registration number 7940643. The registered office is 4 Scottwell Drive, Scottwell Drive, London, NW9 6QA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on cost
Computer equipment
20% on cost
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Thinkadvert Ltd Notes to the Accounts for the year ended 31 March 2024
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
129 
5,593 
5,722 
At 31 March 2024
129 
5,593 
5,722 
Depreciation
At 1 April 2023
129 
4,232 
4,361 
Charge for the year
- 
272 
272 
At 31 March 2024
129 
4,504 
4,633 
Net book value
At 31 March 2024
- 
1,089 
1,089 
At 31 March 2023
- 
1,361 
1,361 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
348 
9 
Trade debtors
21,987 
14,987 
22,335 
14,996 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
6,998 
5,178 
Other creditors
26 
- 
Loans from directors
49,227 
35,413 
Accruals
1,670 
1,730 
57,921 
42,321 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Transactions with related parties
Include in other creditors is the amount of £49,227 (2023: £35,413) owed by the company to the director Mr M Fugallo. During the period interim dividends of £26,000 (2023: £22,000) were distributed to the director.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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