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Registration number: 09975375

Thought Experiment Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Thought Experiment Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Thought Experiment Ltd

Company Information

Director

J I D Mangum

Registered office

Flat 1
The Cedars
8 Lawrie Park Crescent
London
SE26 6HE

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Thought Experiment Ltd

Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,680

3,251

Current assets

 

Debtors

5

140

240

Cash at bank and in hand

 

805

102

 

945

342

Creditors: Amounts falling due within one year

6

(18,357)

(12,607)

Net current liabilities

 

(17,412)

(12,265)

Net liabilities

 

(15,732)

(9,014)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(15,832)

(9,114)

Shareholders' deficit

 

(15,732)

(9,014)

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

Director's 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 director acknowledges her 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 in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 25 January 2025
 

.........................................

J I D Mangum

Director

Company registration number: 09975375

 

Thought Experiment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
Flat 1
The Cedars
8 Lawrie Park Crescent
London
SE26 6HE

The principal activity of the company is that of media production.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company had net liabilities at 31 January 2024 of £15,732.

At that date an amount of £18,057 was due to the director who has pledged not to call on this amount until such time as the company has sufficient working capital, and to support the company with further working capital if necessary.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of production 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 turnover from production services over the period in which the services are provided.

 

Thought Experiment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furnitture, fittings & equipment

25% straight line

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.

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 during the year, was 0 (2023 - 0).

 

Thought Experiment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

4,142

4,142

Additions

71

71

At 31 January 2024

4,213

4,213

Depreciation

At 1 February 2023

891

891

Charge for the year

1,642

1,642

At 31 January 2024

2,533

2,533

Carrying amount

At 31 January 2024

1,680

1,680

At 31 January 2023

3,251

3,251

5

Debtors

2024
£

2023
£

Other debtors

140

240

140

240

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

-

264

Accruals and deferred income

300

508

Other creditors

18,057

11,835

18,357

12,607