Company Registration No. 04719446 (England and Wales)
Think Rethink Ltd
Unaudited accounts
for the year ended 30 April 2021
Think Rethink Ltd
Unaudited accounts
Contents
Think Rethink Ltd
Company Information
for the year ended 30 April 2021
Directors
Scott Kean
Mark Salvin
Company Number
04719446 (England and Wales)
Registered Office
Unit 2 Mortimer Business Park
Mortimer Road
Hereford
HR4 9SP
Accountants
Wellington Consulting Ltd
Fairview
St Owens Cross
Hereford
Herefordshire
HR2 8LG
Think Rethink Ltd
Statement of financial position
as at 30 April 2021
Intangible assets
2,000
4,000
Tangible assets
12,264
17,308
Cash at bank and in hand
20,356
1,076
Creditors: amounts falling due within one year
(34,715)
(43,049)
Net current assets/(liabilities)
16,834
(10,142)
Total assets less current liabilities
31,098
11,166
Creditors: amounts falling due after more than one year
(91,584)
(20,118)
Net liabilities
(60,486)
(8,952)
Called up share capital
100
100
Profit and loss account
(60,586)
(9,052)
Shareholders' funds
(60,486)
(8,952)
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2022 and were signed on its behalf by
Scott Kean
Director
Company Registration No. 04719446
Think Rethink Ltd
Notes to the Accounts
for the year ended 30 April 2021
Think Rethink Ltd is a private company, limited by shares, registered in England and Wales, registration number 04719446. The registered office is Unit 2 Mortimer Business Park, Mortimer Road, Hereford, HR4 9SP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing balance
Fixtures & fittings
20% Straight line basis
Computer equipment
33% Straight line basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation which is calcu;ated to write off evenly over 6 years.
The company is supported by the director. Until the company can afford to do so, the director is not intending repaying the loan due to him.
4
Intangible fixed assets
Goodwill
Think Rethink Ltd
Notes to the Accounts
for the year ended 30 April 2021
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2020
16,495
5,424
15,617
37,536
Additions
11,625
-
275
11,900
Disposals
(16,495)
-
-
(16,495)
At 30 April 2021
11,625
5,424
15,892
32,941
At 1 May 2020
6,477
1,222
12,529
20,228
Charge for the year
2,906
840
3,180
6,926
On disposals
(6,477)
-
-
(6,477)
At 30 April 2021
2,906
2,062
15,709
20,677
At 30 April 2021
8,719
3,362
183
12,264
At 30 April 2020
10,018
4,202
3,088
17,308
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
13,422
13,407
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
18,360
27,258
Trade creditors
9,505
14,399
Taxes and social security
1,767
(4,344)
8
Creditors: amounts falling due after more than one year
2021
2020
Loans from directors
55,584
20,118
The amount outstanding is due to the director and the bounce back loan due in greater than one year. There is no plan for repayment of the loan by the director at this stage.
9
Average number of employees
During the year the average number of employees was 3 (2020: 5).
