IRIS Accounts Production v25.1.4.42 10930494 director 31.8.23 30.8.24 30.8.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh109304942023-08-30109304942024-08-30109304942023-08-312024-08-30109304942022-08-30109304942022-08-312023-08-30109304942023-08-3010930494ns15:EnglandWales2023-08-312024-08-3010930494ns14:PoundSterling2023-08-312024-08-3010930494ns10:Director12023-08-312024-08-3010930494ns10:PrivateLimitedCompanyLtd2023-08-312024-08-3010930494ns10:SmallEntities2023-08-312024-08-3010930494ns10:AuditExempt-NoAccountantsReport2023-08-312024-08-3010930494ns10:SmallCompaniesRegimeForDirectorsReport2023-08-312024-08-3010930494ns10:SmallCompaniesRegimeForAccounts2023-08-312024-08-3010930494ns10:FullAccounts2023-08-312024-08-301093049412023-08-312024-08-3010930494ns10:OrdinaryShareClass12023-08-312024-08-3010930494ns10:RegisteredOffice2023-08-312024-08-3010930494ns5:CurrentFinancialInstruments2024-08-3010930494ns5:CurrentFinancialInstruments2023-08-3010930494ns5:Non-currentFinancialInstruments2024-08-3010930494ns5:Non-currentFinancialInstruments2023-08-3010930494ns5:ShareCapital2024-08-3010930494ns5:ShareCapital2023-08-3010930494ns5:RetainedEarningsAccumulatedLosses2024-08-3010930494ns5:RetainedEarningsAccumulatedLosses2023-08-3010930494ns5:NetGoodwill2023-08-312024-08-3010930494ns5:PlantMachinery2023-08-312024-08-3010930494ns5:FurnitureFittings2023-08-312024-08-3010930494ns5:ComputerEquipment2023-08-312024-08-3010930494ns5:NetGoodwill2023-08-3010930494ns5:NetGoodwill2024-08-3010930494ns5:NetGoodwill2023-08-3010930494ns5:PlantMachinery2023-08-3010930494ns5:FurnitureFittings2023-08-3010930494ns5:ComputerEquipment2023-08-3010930494ns5:PlantMachinery2024-08-3010930494ns5:FurnitureFittings2024-08-3010930494ns5:ComputerEquipment2024-08-3010930494ns5:PlantMachinery2023-08-3010930494ns5:FurnitureFittings2023-08-3010930494ns5:ComputerEquipment2023-08-3010930494ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3010930494ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3010930494ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-08-3010930494ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-08-3010930494ns5:AcceleratedTaxDepreciationDeferredTax2024-08-3010930494ns5:AcceleratedTaxDepreciationDeferredTax2023-08-3010930494ns5:DeferredTaxation2023-08-3010930494ns5:DeferredTaxation2023-08-312024-08-3010930494ns5:DeferredTaxation2024-08-3010930494ns10:OrdinaryShareClass12024-08-30109304941ns10:Director12023-08-30109304941ns10:Director12022-08-30109304941ns10:Director12023-08-312024-08-30109304941ns10:Director12022-08-312023-08-30109304941ns10:Director12024-08-30109304941ns10:Director12023-08-30
REGISTERED NUMBER: 10930494 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 AUGUST 2024

FOR

THINKY SQUID LTD

THINKY SQUID LTD (REGISTERED NUMBER: 10930494)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THINKY SQUID LTD

COMPANY INFORMATION
for the Year Ended 30 August 2024







DIRECTOR: Miss J Kiphart





REGISTERED OFFICE: Unit 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 10930494 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

THINKY SQUID LTD (REGISTERED NUMBER: 10930494)

BALANCE SHEET
30 August 2024

30.8.24 30.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,857 4,286
Tangible assets 5 10,235 13,647
13,092 17,933

CURRENT ASSETS
Debtors 6 101,465 106,549
Cash at bank and in hand 5,902 1,720
107,367 108,269
CREDITORS
Amounts falling due within one year 7 114,691 115,236
NET CURRENT LIABILITIES (7,324 ) (6,967 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,768

10,966

CREDITORS
Amounts falling due after more than one
year

8

(3,367

)

(7,698

)

PROVISIONS FOR LIABILITIES 9 (2,344 ) (3,212 )
NET ASSETS 57 56

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 56 55
SHAREHOLDERS' FUNDS 57 56

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

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

The director acknowledges her 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.

THINKY SQUID LTD (REGISTERED NUMBER: 10930494)

BALANCE SHEET - continued
30 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:





Miss J Kiphart - Director


THINKY SQUID LTD (REGISTERED NUMBER: 10930494)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 August 2024

1. STATUTORY INFORMATION

Thinky Squid Ltd 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover 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 service.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

THINKY SQUID LTD (REGISTERED NUMBER: 10930494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 August 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

THINKY SQUID LTD (REGISTERED NUMBER: 10930494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 August 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 August 2023
and 30 August 2024 10,000
AMORTISATION
At 31 August 2023 5,714
Charge for year 1,429
At 30 August 2024 7,143
NET BOOK VALUE
At 30 August 2024 2,857
At 30 August 2023 4,286

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 31 August 2023
and 30 August 2024 1,389 13,801 6,753 21,943
DEPRECIATION
At 31 August 2023 - 4,802 3,494 8,296
Charge for year 347 2,250 815 3,412
At 30 August 2024 347 7,052 4,309 11,708
NET BOOK VALUE
At 30 August 2024 1,042 6,749 2,444 10,235
At 30 August 2023 1,389 8,999 3,259 13,647

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.24 30.8.23
£    £   
Trade debtors - 8,430
Directors' current accounts 101,465 98,119
101,465 106,549

THINKY SQUID LTD (REGISTERED NUMBER: 10930494)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.8.24 30.8.23
£    £   
Bank loans and overdrafts 4,376 4,330
Trade creditors 4,410 1,586
Taxation 47,411 47,039
Value added tax 57,094 61,531
Accruals 1,400 750
114,691 115,236

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.8.24 30.8.23
£    £   
Bank loans - 1-2 years 3,367 7,698

9. PROVISIONS FOR LIABILITIES
30.8.24 30.8.23
£    £   
Deferred tax
Accelerated capital allowances 2,344 3,212

Deferred
tax
£   
Balance at 31 August 2023 3,212
Provided during year (868 )
Balance at 30 August 2024 2,344

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.8.24 30.8.23
value: £    £   
1 Ordinary £1 1 1

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 August 2024 and 30 August 2023:

30.8.24 30.8.23
£    £   
Miss J Kiphart
Balance outstanding at start of year 98,119 71,019
Amounts advanced 101,465 121,504
Amounts repaid (98,119 ) (94,404 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 101,465 98,119