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REGISTERED NUMBER: 12058529 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

WOOLLY THINKING LIMITED

WOOLLY THINKING LIMITED (REGISTERED NUMBER: 12058529)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOOLLY THINKING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P Bamborough
Ms A J Sinclair





REGISTERED OFFICE: 32 The Square
Gillingham
Dorset
SP8 4AR





REGISTERED NUMBER: 12058529 (England and Wales)





ACCOUNTANTS: Andrews and Palmer
Chartered Accountants
32 The Square
Gillingham
Dorset
SP8 4AR

WOOLLY THINKING LIMITED (REGISTERED NUMBER: 12058529)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,127 37,936

CURRENT ASSETS
Stocks 4,485 4,297
Debtors 5 57,885 823
Cash at bank 5,127 4,718
67,497 9,838
CREDITORS
Amounts falling due within one year 6 177,256 113,429
NET CURRENT LIABILITIES (109,759 ) (103,591 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(82,632

)

(65,655

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (82,634 ) (65,657 )
SHAREHOLDERS' FUNDS (82,632 ) (65,655 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

WOOLLY THINKING LIMITED (REGISTERED NUMBER: 12058529)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





Ms A J Sinclair - Director


WOOLLY THINKING LIMITED (REGISTERED NUMBER: 12058529)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Woolly Thinking 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of goods sold during the period, net of VAT and discounts. Turnover is recognised when goods are physically delivered to the customer or the service is performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are measured at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

WOOLLY THINKING LIMITED (REGISTERED NUMBER: 12058529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 71,087 629 71,716
DEPRECIATION
At 1 July 2023 33,296 484 33,780
Charge for year 10,664 145 10,809
At 30 June 2024 43,960 629 44,589
NET BOOK VALUE
At 30 June 2024 27,127 - 27,127
At 30 June 2023 37,791 145 37,936

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
VAT 299 823
Prepayments and accrued income 57,586 -
57,885 823

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 354 5,298
Directors' current accounts 173,902 103,316
Accruals and deferred income 3,000 4,815
177,256 113,429

WOOLLY THINKING LIMITED (REGISTERED NUMBER: 12058529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary £1 2 2