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Registered number: 08888469









THOUGHT OUT LOUD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2024

 
THOUGHT OUT LOUD LIMITED
REGISTERED NUMBER: 08888469

BALANCE SHEET
AS AT 31 AUGUST 2024

31 August
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
1,874

  
-
1,874

Current assets
  

Debtors: amounts falling due within one year
 5 
4,345
4,645

Cash at bank and in hand
 6 
3,861
21,476

  
8,206
26,121

Creditors: amounts falling due within one year
 7 
(5,426)
(22,133)

Net current assets
  
 
 
2,780
 
 
3,988

Total assets less current liabilities
  
2,780
5,862

Creditors: amounts falling due after more than one year
 8 
(2,581)
(5,200)

  

Net assets
  
199
662


Capital and reserves
  

Called up share capital 
  
199
199

Profit and loss account
  
-
463

  
199
662


Page 1

 
THOUGHT OUT LOUD LIMITED
REGISTERED NUMBER: 08888469
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider 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 directors acknowledge their 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 10 February 2025.




................................................
Philip Ewen
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THOUGHT OUT LOUD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

1.


General information

Thought Out Loud Limited is a private company registered in England and Wales, limited by its share capital. The principal activity of the Company throughout the year was that of marketing and advertising.  The Company ceased trading on 31 August 2024.

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

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

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 3

 
THOUGHT OUT LOUD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

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.

Page 4

 
THOUGHT OUT LOUD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% reducing balance

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

Page 5

 
THOUGHT OUT LOUD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

4.


Tangible fixed assets







Fixtures and fittings

£





At 1 March 2023
8,799


Disposals
(8,799)



At 31 August 2024

-





At 1 March 2023
6,925


Disposals
(6,925)



At 31 August 2024

-



Net book value



At 31 August 2024
-



At 28 February 2023
1,874

Page 6

 
THOUGHT OUT LOUD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

5.


Debtors

31 August
28 February
2024
2023
£
£


Trade debtors
-
300

Amounts owed by associated companies
4,345
4,345

4,345
4,645



6.


Cash and cash equivalents

31 August
28 February
2024
2023
£
£

Cash at bank and in hand
3,861
21,476

3,861
21,476



7.


Creditors: Amounts falling due within one year

31 August
28 February
2024
2023
£
£

Bank loans
1,746
1,746

Amounts owed to associated companies
2,327
10,158

Corporation tax
711
8,090

Other creditors
-
945

Accruals and deferred income
642
1,194

5,426
22,133



8.


Creditors: Amounts falling due after more than one year

31 August
28 February
2024
2023
£
£

Bank loans
2,581
5,200

2,581
5,200


Page 7

 
THOUGHT OUT LOUD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

9.


Loans


Analysis of the maturity of loans is given below:


31 August
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
1,746
1,746

Amounts falling due 1-2 years

Bank loans
2,581
5,200



4,327
6,946



10.


Controlling party

The Company is controlled by the director, Philip Ewen, by virtue of his shareholding, as described in the Directors' report.

 
Page 8