REGISTERED NUMBER: |
THINKING ERGONOMIX LIMITED |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
THINKING ERGONOMIX LIMITED |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
THINKING ERGONOMIX LIMITED (REGISTERED NUMBER: 07085655) |
Contents of the Financial Statements |
for the year ended 30 June 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
THINKING ERGONOMIX LIMITED |
Company Information |
for the year ended 30 June 2024 |
Director: |
Registered office: |
Registered number: |
Bankers: |
PO Box 68 |
130 New Street |
Birmingham |
B2 4Ju |
THINKING ERGONOMIX LIMITED (REGISTERED NUMBER: 07085655) |
Statement of Financial Position |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
Current assets |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings |
Shareholders' funds |
THINKING ERGONOMIX LIMITED (REGISTERED NUMBER: 07085655) |
Statement of Financial Position - continued |
30 June 2024 |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
THINKING ERGONOMIX LIMITED (REGISTERED NUMBER: 07085655) |
Notes to the Financial Statements |
for the year ended 30 June 2024 |
1. | Statutory information |
Thinking Ergonomix Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
2. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The financial statements have been prepared on the going concern basis which the director believes to be appropriate for the following reasons. |
The company is dependent for its working capital on funds provided to it by its parent company Thinking Ergonomix Pty Ltd. |
Thinking Ergonomix Pty Ltd which has indicated that, for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the company to enable it to continue to trade. This should enable the company to trade for the foreseeable future by meeting its liabilities as they fall due for payment. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
The turnover shown in the profit and loss accounts represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax. |
Tangible fixed assets |
All fixed assets are initially recorded at cost. |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Equipment | - | 25% straight line |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
THINKING ERGONOMIX LIMITED (REGISTERED NUMBER: 07085655) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
2. | Accounting policies - continued |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss account in other administrative expenses. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Equipment |
£ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Depreciation |
At 1 July 2023 |
and 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Corporation tax |
Social security and other taxes |
VAT | 3,818 | - |
Other creditors |
Accruals and deferred income |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
THINKING ERGONOMIX LIMITED (REGISTERED NUMBER: 07085655) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2024 |
8. | Related party disclosures |
The company was under the control of Mr D A Kuch throughout the current year. Mr D A Kuch is the director of the company and the controlling party of the ultimate parent company, Thinking Ergonomix Holdings Pty Limited, a company incorporated in Australia. |
During the year, the company traded with Thinking Ergonomix Pty Limited, the immediate parent company, which is also incorporated in Australia. |
The transactions during the year were as follows: |
Management charges received | £5,753 | (2023: £6,569) |
(included within turnover) |
Purchases made | £81,687 | (2023: £187,940) |
Disposal of tangible fixed assets - proceeds | £nil | (2023: £nil) |
The balances outstanding at the year end were as follows: |
Included in other creditors | £28,225 | (2023: £13,404 other debtors) |