Thinkr Limited - Period Ending 2021-03-31

Thinkr Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Unaudited Financial Statements	3 to 5

Thinkr Limited

Company Information

Directors

Mrs L J Rowlands Mr J H Rowlands

Registered office

30 Staveley Road Chiswick London W4 3ES

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Thinkr Limited

Statement of Financial Position as at 31 March 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	4,580	4,033
Current assets
Debtors	5	19,518	61,387
Cash at bank and in hand		428,198	346,973
		447,716	408,360
Creditors: Amounts falling due within one year	6	(39,387)	(70,793)
Net current assets		408,329	337,567
Net assets		412,909	341,600
Capital and reserves
Called up share capital		100	100
Profit and loss account		412,809	341,500
Shareholders' funds		412,909	341,600

For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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 Board on 1 November 2021 and signed on its behalf by:
 

.........................................

Mrs L J Rowlands

Director

Company registration number: 10998155

Thinkr Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2021

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:
30 Staveley Road
Chiswick
London
W4 3ES

The principal activity of the company is that of film and TV production consultancy.

2	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 £412,909 at 31 March 2021, including cash and bank of £428,198.

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 the impact will be manageable. 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 is able to continue 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 2021

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.

3	Staff numbers

The average number of persons employed by the company during the year was 2 (2020 - 2).

Thinkr Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2021

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2020	7,527	7,527
Additions	4,584	4,584
At 31 March 2021	12,111	12,111
Depreciation
At 1 April 2020	3,494	3,494
Charge for the year	4,037	4,037
At 31 March 2021	7,531	7,531
Carrying amount
At 31 March 2021	4,580	4,580
At 31 March 2020	4,033	4,033

5

Debtors

	2021 £	2020 £
Trade debtors	1,590	25,560
Other debtors	17,928	35,827
	19,518	61,387

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Taxation and social security	34,386	65,792
Accruals and deferred income	5,001	5,001
	39,387	70,793

7	Transactions with Directors

During the year there were advances to directors of £6,251 and repayments of £13,800. At 31 March 2021 an amount of £5,603 (2019: £13,152) was due to the company from the directors. No interest is payable and there are no agreed terms.