REGISTERED NUMBER: 04696800 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

THINKING SPACE SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr W M Palmer

Mr P M Roberts

SECRETARY:

Mr P M Roberts

REGISTERED OFFICE:

Unit 10b

The Quadrangle

Abbey Park Industrial Estate

Romsey

Hampshire

SO51 9DL

REGISTERED NUMBER:

04696800 (England and Wales)

FIXED ASSETS

Tangible assets

5

77,176

93,698

Investments

6

55,865

55,865

133,041

149,563

CURRENT ASSETS

Stocks

550,860

811,390

Debtors

7

1,282,706

273,039

Cash at bank

261,225

981,140

2,094,791

2,065,569

CREDITORS

Amounts falling due within one year

8

734,487

624,926

NET CURRENT ASSETS

1,360,304

1,440,643

TOTAL ASSETS LESS CURRENT LIABILITIES

1,493,345

1,590,206

PROVISIONS FOR LIABILITIES

-

3,750

NET ASSETS

1,493,345

1,586,456

CAPITAL AND RESERVES

Called up share capital

9

766

766

Capital redemption reserve

234

234

Retained earnings

1,492,345

1,585,456

1,493,345

1,586,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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.

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 November 2025 and were signed on its behalf by:

Mr P M Roberts - Director

1.	STATUTORY INFORMATION

Thinking Space Systems 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Thinking Space Systems Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

20% straight line

Plant and machinery

-

25% straight line

Motor vehicles

-

25% straight line

Office equipment

-

33% straight line

All fixed assets are initially recorded at cost.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Pension costs and other post-retirement benefits

The company contributes to a defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

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 the Income Statement in administrative expenses.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 34 ) .

5.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

Office

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2024

13,812

230,627

167,757

108,821

521,017

Additions

-

-

30,750

-

30,750

Disposals

-

-

(28,452

)

-

(28,452

)

At 30 June 2025

13,812

230,627

170,055

108,821

523,315

DEPRECIATION

At 1 July 2024

13,812

215,499

99,164

98,844

427,319

Charge for year

-

6,226

32,121

8,925

47,272

Eliminated on disposal

-

-

(28,452

)

-

(28,452

)

At 30 June 2025

13,812

221,725

102,833

107,769

446,139

NET BOOK VALUE

At 30 June 2025

-

8,902

67,222

1,052

77,176

At 30 June 2024

-

15,128

68,593

9,977

93,698

6.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 July 2024

and 30 June 2025

55,786

79

55,865

NET BOOK VALUE

At 30 June 2025

55,786

79

55,865

At 30 June 2024

55,786

79

55,865

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

589,874

251,325

Amounts owed by group undertakings

605,595

-

Other debtors

87,237

21,714

1,282,706

273,039

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

383,877

213,796

Amounts owed to group undertakings

10,000

10,000

Taxation and social security

154,076

105,023

Other creditors

186,534

296,107

734,487

624,926

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2025

2024

£

£

585

Ordinary A

£1

585

585

1,812

Ordinary B

1p

181

181

766

766

10.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £707,684 (2024: £819,423).

This amount is in relation to operating lease commitments which are payable over the next 7 years (2024: payable over the next 8 years).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2025 and 30 June 2024:

2025

2024

£

£

Mr P M Roberts

Balance outstanding at start of year

-

-

Amounts advanced

62,167

-

Amounts repaid

(26,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,167

-

This loan was unsecured with interest charged at HMRC approved rates and with no fixed date of repayment.

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.