Registration number: 11863671

The Thinking Space Exeter Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

The Thinking Space Exeter Limited

Company Information

Director

S Rygh

Registered office

Holmedale Health The Consulting Rooms 34 Denmark Road Exeter Devon EX1 1SE

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

The Thinking Space Exeter Limited

(Registration number: 11863671)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	1,551	2,068
Tangible assets	5	2,423	3,257
		3,974	5,325
Current assets
Debtors	6	27,321	36,924
Cash at bank and in hand		17,539	9,222
		44,860	46,146
Creditors: Amounts falling due within one year	7	(20,303)	(21,490)
Net current assets		24,557	24,656
Total assets less current liabilities		28,531	29,981
Provisions for liabilities		(606)	(814)
Net assets		27,925	29,167
Capital and reserves
Called up share capital		100	100
Retained earnings		27,825	29,067
Shareholders' funds		27,925	29,167

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 September 2025
 

The Thinking Space Exeter Limited

(Registration number: 11863671)
Balance Sheet as at 31 March 2025

......................................... S Rygh Director

The Thinking Space Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Holmedale Health
The Consulting Rooms
34 Denmark Road
Exeter
Devon
EX1 1SE
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

The Thinking Space Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	25% Straight line
Motor Vehicles	25% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website Development	5 Years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

The Thinking Space Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

The Thinking Space Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 April 2024	2,585	2,585
At 31 March 2025	2,585	2,585
Amortisation
At 1 April 2024	517	517
Amortisation charge	517	517
At 31 March 2025	1,034	1,034
Carrying amount
At 31 March 2025	1,551	1,551
At 31 March 2024	2,068	2,068

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	4,723	4,723
Additions	335	335
At 31 March 2025	5,058	5,058
Depreciation
At 1 April 2024	1,466	1,466
Charge for the year	1,169	1,169
At 31 March 2025	2,635	2,635
Carrying amount
At 31 March 2025	2,423	2,423
At 31 March 2024	3,257	3,257

The Thinking Space Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

	2025 £	2024 £
Trade debtors	11,394	7,558
Other debtors	13,850	13,295
Prepayments and accrued income	2,077	16,071
Total current trade and other debtors	27,321	36,924

7

Creditors

	2025 £	2024 £
Due within one year
Taxation and social security	18,252	19,527
Accrued expenses	2,051	1,963
	20,303	21,490

The Thinking Space Exeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8	Related party transactions

Transactions with the director

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Interest free loan, repayable on demand	13,297	92,347	(91,794)	13,850

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
Interest free loan, repayable on demand	-	49,777	(36,480)	13,297