Registration number:
Thinkr Limited
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Thinkr Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Thinkr Limited
Company Information
Directors |
Mrs L J Rowlands Mr J H Rowlands |
Registered office |
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Accountants |
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Thinkr Limited
Statement of Financial Position as at 31 March 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
470,854 |
412,809 |
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Shareholders' funds |
470,954 |
412,909 |
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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Mrs L J Rowlands
Director
Company registration number: 10998155
Thinkr Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of film and TV production consultancy.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company had net assets of £470,954 at 31 March 2022, including cash and bank of £489,239.
The directors have considered the potential effect of the current COVID-19 pandemic and, although there is no certainty as to when this will end, the directors' view is that any further impact will be manageable now that all restrictions have been lifted. The company operates within a sector which has been materially affected by the crisis, however, the company has still been able to perform consultancy services remotely and has continued to trade profitably despite the pandemic.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, rebates and discounts.
The company recognises revenue when the contractual performance obligations have been fulfilled.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.
Thinkr Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
33% straight line |
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.
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.
Staff numbers |
The average number of persons employed by the company during the year was
Thinkr Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Debtors |
2022 |
2021 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Thinkr Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022
Transactions with Directors |
During the year there were advances to directors of £3,709 and repayments of £9,312. At 31 March 2022 an amount of £Nil (2021: £5,603) was due to the company. No interest is payable and there are no agreed terms.