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REGISTERED NUMBER: 08853001 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

MYDEMENTIA IMPROVEMENT NETWORK LTD

MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Balance Sheet 1

Notes to the Financial Statements 3


MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,114 50,728
37,114 50,728

CURRENT ASSETS
Stocks 131,504 112,066
Debtors 6 1,409,248 467,126
Cash at bank 868,578 355,763
2,409,330 934,955
CREDITORS
Amounts falling due within one year 7 1,463,178 648,465
NET CURRENT ASSETS 946,152 286,490
TOTAL ASSETS LESS CURRENT
LIABILITIES

983,266

337,218

CREDITORS
Amounts falling due after more than one year 8 - (82,556 )

PROVISIONS FOR LIABILITIES (9,638 ) -
NET ASSETS 973,628 254,662

CAPITAL AND RESERVES
Called up share capital 92 1
Retained earnings 973,536 254,661
SHAREHOLDERS' FUNDS 973,628 254,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 July 2022 and were signed by:





G R Stockton - Director


MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Mydementia Improvement Network Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08853001

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax and is recognised at the point the customers receive the products/services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 2,184
AMORTISATION
At 1 January 2021
and 31 December 2021 2,184
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2021 1,224 62,474 5,317 69,015
Additions - - 2,651 2,651
At 31 December 2021 1,224 62,474 7,968 71,666
DEPRECIATION
At 1 January 2021 816 13,015 4,456 18,287
Charge for year 102 15,619 544 16,265
At 31 December 2021 918 28,634 5,000 34,552
NET BOOK VALUE
At 31 December 2021 306 33,840 2,968 37,114
At 31 December 2020 408 49,459 861 50,728

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 699,086 287,254
Other debtors 710,162 179,872
1,409,248 467,126

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts - 4,713
Hire purchase contracts (see note 9) 37,269 14,255
Trade creditors 64,672 67,092
Taxation and social security 254,903 140,611
Other creditors 1,106,334 421,794
1,463,178 648,465

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans - 45,287
Hire purchase contracts (see note 9) - 37,269
- 82,556

MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 37,269 14,255
Between one and five years - 37,269
37,269 51,524

Non-cancellable operating leases
2021 2020
£    £   
Within one year 5,514 8,577
Between one and five years - 6,015
5,514 14,592

10. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 37,269 -

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
G R Stockton
Balance outstanding at start of year - -
Amounts advanced 327,382 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 327,382 -

The director's loan was repaid in full in September 2022.

MYDEMENTIA IMPROVEMENT NETWORK LTD (REGISTERED NUMBER: 08853001)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £339,873 (2020 : £156,055) from companies under common control. At the same date £45,597 was owing to a connected company (2020: £89,130). The loans are interest-free and repayable on demand.