Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 09805470 Ms E Heley Mr N Forster iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09805470 2023-10-31 09805470 2024-10-31 09805470 2023-11-01 2024-10-31 09805470 frs-core:CurrentFinancialInstruments 2024-10-31 09805470 frs-core:Non-currentFinancialInstruments 2024-10-31 09805470 frs-core:ComputerEquipment 2024-10-31 09805470 frs-core:ComputerEquipment 2023-11-01 2024-10-31 09805470 frs-core:ComputerEquipment 2023-10-31 09805470 frs-core:FurnitureFittings 2024-10-31 09805470 frs-core:FurnitureFittings 2023-11-01 2024-10-31 09805470 frs-core:FurnitureFittings 2023-10-31 09805470 frs-core:PlantMachinery 2024-10-31 09805470 frs-core:PlantMachinery 2023-11-01 2024-10-31 09805470 frs-core:PlantMachinery 2023-10-31 09805470 frs-core:ShareCapital 2024-10-31 09805470 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 09805470 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09805470 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 09805470 frs-bus:SmallEntities 2023-11-01 2024-10-31 09805470 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09805470 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09805470 frs-bus:Director1 2023-11-01 2024-10-31 09805470 frs-bus:Director2 2023-11-01 2024-10-31 09805470 frs-countries:EnglandWales 2023-11-01 2024-10-31 09805470 2022-10-31 09805470 2023-10-31 09805470 2022-11-01 2023-10-31 09805470 frs-core:CurrentFinancialInstruments 2023-10-31 09805470 frs-core:Non-currentFinancialInstruments 2023-10-31 09805470 frs-core:ShareCapital 2023-10-31 09805470 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 09805470
Thinking Hat Media Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09805470
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,370 8,682
4,370 8,682
CURRENT ASSETS
Debtors 5 171,887 146,722
Cash at bank and in hand 201,017 153,980
372,904 300,702
Creditors: Amounts Falling Due Within One Year 6 (291,344 ) (216,077 )
NET CURRENT ASSETS (LIABILITIES) 81,560 84,625
TOTAL ASSETS LESS CURRENT LIABILITIES 85,930 93,307
Creditors: Amounts Falling Due After More Than One Year 7 (88,970 ) (93,156 )
NET (LIABILITIES)/ASSETS (3,040 ) 151
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (3,140 ) 51
SHAREHOLDERS' FUNDS (3,040) 151
Page 1
Page 2
For the year ending 31 October 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms E Heley
Director
14/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Thinking Hat Media Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09805470 . The registered office is 48 Victoria Road, 10 Wrens Court, Birmingham, B72 1SY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% Reducing Balance
Fixtures & Fittings 3 years Straight Line
Computer Equipment 3 years Straight Line
2.4. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 3,180 932 24,581 28,693
Additions - - 162 162
Disposals - (125 ) - (125 )
As at 31 October 2024 3,180 807 24,743 28,730
Depreciation
As at 1 November 2023 3,007 616 16,388 20,011
Provided during the period 58 202 4,214 4,474
Disposals - (125 ) - (125 )
As at 31 October 2024 3,065 693 20,602 24,360
Net Book Value
As at 31 October 2024 115 114 4,141 4,370
As at 1 November 2023 173 316 8,193 8,682
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 89,060 116,973
Prepayments and accrued income 22,180 26,744
Directors' loan accounts 45,344 3,005
156,584 146,722
Due after more than one year
Corporation tax recoverable assets 15,303 -
171,887 146,722
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,610 3,901
Bank loans and overdrafts 69,780 34,119
Corporation tax 61,683 77,784
Other taxes and social security 36,070 -
VAT 74,805 48,648
Other creditors 2,465 8,829
Accruals and deferred income 42,931 42,796
291,344 216,077
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Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 88,970 93,156
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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