Thinkcare Consultancy Ltd Company accounts

Thinkcare Consultancy Ltd Company accounts

THINKCARE CONSULTANCY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10768922
Thinkcare Consultancy Ltd
Unaudited Financial Statements
31 May 2019
Thinkcare Consultancy Ltd
Financial Statements
Year ended 31 May 2019
Contents
Page
Director's report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5
Thinkcare Consultancy Ltd
Director's Report
Year ended 31 May 2019
The director presents his report and the unaudited financial statements of the company for the year ended 31 May 2019 .
Director
The director who served the company during the year was as follows:
N S Kelly
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 20 February 2020 and signed on behalf of the board by:
N S Kelly
Director
Registered office:
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
Thinkcare Consultancy Ltd
Statement of Comprehensive Income
Year ended 31 May 2019
2019
2018
Note
£
£
Turnover
81,275
63,470
--------
--------
Gross profit
81,275
63,470
Administrative expenses
21,547
17,962
--------
--------
Operating profit
59,728
45,508
--------
--------
Profit before taxation
5
59,728
45,508
Tax on profit
11,610
9,024
--------
--------
Profit for the financial year and total comprehensive income
48,118
36,484
--------
--------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Thinkcare Consultancy Ltd
Statement of Financial Position
31 May 2019
2019
2018
Note
£
£
Fixed assets
Tangible assets
6
956
1,275
Current assets
Debtors
7
5,589
5,474
Cash at bank and in hand
17,136
14,998
--------
--------
22,725
20,472
Creditors: amounts falling due within one year
8
16,078
20,262
--------
--------
Net current assets
6,647
210
-------
-------
Total assets less current liabilities
7,603
1,485
-------
-------
Net assets
7,603
1,485
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
7,602
1,484
-------
-------
Shareholders funds
7,603
1,485
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 May 2019 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 February 2020 , and are signed on behalf of the board by:
N S Kelly
Director
Company registration number: 10768922
Thinkcare Consultancy Ltd
Statement of Changes in Equity
Year ended 31 May 2019
Called up share capital
Profit and loss account
Total
£
£
£
At 1 June 2017
–
–
–
Profit for the year
36,484
36,484
----
--------
--------
Total comprehensive income for the year
–
36,484
36,484
Issue of shares
1
–
1
Dividends paid and payable
–
( 35,000)
( 35,000)
----
--------
--------
Total investments by and distributions to owners
1
( 35,000)
( 34,999)
At 31 May 2018
1
1,484
1,485
Profit for the year
48,118
48,118
----
--------
--------
Total comprehensive income for the year
–
48,118
48,118
Dividends paid and payable
–
( 42,000)
( 42,000)
----
--------
--------
Total investments by and distributions to owners
–
( 42,000)
( 42,000)
----
--------
--------
At 31 May 2019
1
7,602
7,603
----
--------
--------
Thinkcare Consultancy Ltd
Notes to the Financial Statements
Year ended 31 May 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2019
2018
£
£
Depreciation of tangible assets
319
425
----
----
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 June 2018 and 31 May 2019
500
1,200
1,700
----
-------
-------
Depreciation
At 1 June 2018
125
300
425
Charge for the year
94
225
319
----
-------
-------
At 31 May 2019
219
525
744
----
-------
-------
Carrying amount
At 31 May 2019
281
675
956
----
-------
-------
At 31 May 2018
375
900
1,275
----
-------
-------
7. Debtors
2019
2018
£
£
Trade debtors
5,589
3,150
Other debtors
–
2,324
-------
-------
5,589
5,474
-------
-------
8. Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
11,609
9,024
Other creditors
4,469
11,238
--------
--------
16,078
20,262
--------
--------