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Registration number: 11964429

Minding Minds Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2022

 

Minding Minds Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Minding Minds Limited

(Registration number: 11964429)
Balance Sheet as at 30 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

6

1,248

1,560

Current assets

 

Debtors

7

24,311

8,145

Cash at bank and in hand

 

20,481

8,894

 

44,792

17,039

Creditors: Amounts falling due within one year

8

(27,817)

(7,580)

Net current assets

 

16,975

9,459

Total assets less current liabilities

 

18,223

11,019

Creditors: Amounts falling due after more than one year

8

(8,589)

(10,907)

Net assets

 

9,634

112

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

9,534

12

Shareholders' funds

 

9,634

112

 

Minding Minds Limited

(Registration number: 11964429)
Balance Sheet as at 30 April 2022

For the financial year ending 30 April 2022 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

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 Profit and Loss Account has been taken.

Approved and authorised by the director on 7 September 2022
 

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

C S Stewart
Director

 

Minding Minds Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

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:
63/66 Hatton Garden
Hatton Garden
London
EC1N 8LE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered the impact of the global Covid-19 pandemic on the ability of the company to continue trading for the foreseeable future, based on this review and taken together with existing reserves the directors are confident that they can sustain the business therefore the accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for mental health first aid services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

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.

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

Office Equipment

20% reducing balance basis

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Minding Minds Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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

Taxation

2022

2021

£

£

Corporation tax

12,652

3,103

12,652

3,103

4

Other operating income

2022

2021

£

£

Government grants

-

2,476

Bounce back loan interest receivable

332

-

332

2,476

5

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Minding Minds Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

6

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2021

2,126

2,126

At 30 April 2022

2,126

2,126

Depreciation

At 1 May 2021

566

566

Charge for the year

312

312

At 30 April 2022

878

878

Carrying amount

At 30 April 2022

1,248

1,248

At 30 April 2021

1,560

1,560

7

Debtors

2022
£

2021
£

Trade debtors

24,311

6,267

Other debtors

-

1,878

24,311

8,145

 

Minding Minds Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Loans and borrowings

2,574

2,353

Taxation and social security

23,504

3,295

Other creditors

1,739

1,932

27,817

7,580

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

8,589

10,907

9

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Other borrowings

2,574

2,353

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

8,589

10,907

 

Minding Minds Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

10

Related party transactions

Transactions with directors

2022

At 1 May 2021
£

Repayments by director
£

At 30 April 2022
£

C S Stewart

Interest free loan

1,878

(1,908)

(30)

       
     

 

2021

At 1 May 2020
£

Advances to directors
£

Repayments by director
£

At 30 April 2021
£

C S Stewart

Interest free loan

92

3,455

(1,669)

1,878

         
       

 

Other transactions with directors

C Stewart had a loan with the company. At the balance sheet date, the amount due to/(from) C Stewart was £30 (2021: (£1,878)).