IRIS Accounts Production v22.2.0.402 09010283 director 1.1.21 31.12.21 31.12.21 30/8/2022 0 0 true false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure090102832020-12-31090102832021-12-31090102832021-01-012021-12-31090102832019-12-31090102832020-01-012020-12-31090102832020-12-3109010283ns16:EnglandWales2021-01-012021-12-3109010283ns15:PoundSterling2021-01-012021-12-3109010283ns11:Director12021-01-012021-12-3109010283ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3109010283ns11:SmallEntities2021-01-012021-12-3109010283ns11:Audited2021-01-012021-12-3109010283ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3109010283ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3109010283ns11:FullAccounts2021-01-012021-12-3109010283ns11:RegisteredOffice2021-01-012021-12-3109010283ns6:CurrentFinancialInstruments2021-12-3109010283ns6:CurrentFinancialInstruments2020-12-3109010283ns6:ShareCapital2021-12-3109010283ns6:ShareCapital2020-12-3109010283ns6:RetainedEarningsAccumulatedLosses2021-12-3109010283ns6:RetainedEarningsAccumulatedLosses2020-12-3109010283ns6:PlantMachinery2021-01-012021-12-3109010283ns6:PlantMachinery2020-12-3109010283ns6:PlantMachinery2021-12-3109010283ns6:CostValuation2020-12-3109010283ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3109010283ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: 09010283 (England and Wales)















Digital Minds Limited

Financial Statements for the Year Ended 31 December 2021






Digital Minds Limited (Registered number: 09010283)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Digital Minds Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: Mr S Hime



REGISTERED OFFICE: 97 Judd Street
London
WC1H 9JG



REGISTERED NUMBER: 09010283 (England and Wales)



AUDITORS: Chris Syrimis & Co
Chartered Certified Accountants and
Statutory Auditors
97 Judd Street
London
WC1H 9JG



BANKERS: Barclays Bank PLC
193 Camden High Street
London
NW1 7PJ

Digital Minds Limited (Registered number: 09010283)

Balance Sheet
31 December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 485,590 485,590
485,590 485,590

CURRENT ASSETS
Debtors 6 1,004,190 772,027
Cash at bank 1,082,561 914,015
2,086,751 1,686,042
CREDITORS
Amounts falling due within one year 7 1,533,988 849,726
NET CURRENT ASSETS 552,763 836,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,038,353

1,321,906

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,038,253 1,321,806
SHAREHOLDERS' FUNDS 1,038,353 1,321,906

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2022 and were signed by:





Mr S Hime - Director


Digital Minds Limited (Registered number: 09010283)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Digital Minds Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Digital Minds Limited (Registered number: 09010283)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 2,733
DEPRECIATION
At 1 January 2021
and 31 December 2021 2,733
NET BOOK VALUE
At 31 December 2021 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2021
and 31 December 2021 485,590
NET BOOK VALUE
At 31 December 2021 485,590
At 31 December 2020 485,590

Digital Minds Limited (Registered number: 09010283)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 797,026 735,441
Amounts owed by group undertakings 176,407 35,317
Other debtors 30,757 1,269
1,004,190 772,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade creditors 936,558 567,216
Amounts owed to group undertakings 519,683 246,954
Taxation and social security 69,537 27,671
Other creditors 8,210 7,885
1,533,988 849,726

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christos Syrimis (Senior Statutory Auditor)
for and on behalf of Chris Syrimis & Co

9. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Digitial Minds Cyprus Ltd.

A company incorporated in Cyprus (HE356622) who's registered office is Agias Flyaxeos 63, Charalambous Building, 1st Floor, 3025, Limassol, Cyprus.