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Company Registration No. 08582746 (England and Wales)
MASTERMIND STRATEGIES LTD. Unaudited accounts for the year ended 30 June 2023
MASTERMIND STRATEGIES LTD. Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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MASTERMIND STRATEGIES LTD. Company Information for the year ended 30 June 2023
Director
Adanna Bankole
Company Number
08582746 (England and Wales)
Registered Office
WESLEY OFFICES 74 SILVER STREET NAILSEA BS48 2DS
Accountants
Tempo Accounting Limited 74 Silver Street Nailsea Bristol N. Somerset BS48 2DS
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MASTERMIND STRATEGIES LTD. Statement of financial position as at 30 June 2023
2023
2022
Notes
£
£
Fixed assets
Tangible assets
4
809
220
Current assets
Debtors
5
13,743
20,800
Cash at bank and in hand
2,513
20,843
16,256
41,643
Creditors: amounts falling due within one year
6
(8,204)
(15,379)
Net current assets
8,052
26,264
Total assets less current liabilities
8,861
26,484
Creditors: amounts falling due after more than one year
7
(8,392)
(11,394)
Net assets
469
15,090
Capital and reserves
Called up share capital
8
10
10
Profit and loss account
459
15,080
Shareholders' funds
469
15,090
For the year ending 30 June 2023 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 director acknowledges her 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 and authorised for issue on 26 September 2023 and were signed on its behalf by
Adanna Bankole Director Company Registration No. 08582746
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MASTERMIND STRATEGIES LTD. Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
MASTERMIND STRATEGIES LTD. is a private company, limited by shares, registered in England and Wales, registration number 08582746. The registered office is WESLEY OFFICES, 74 SILVER STREET, NAILSEA, BS48 2DS.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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:
Plant & machinery
33% Straight Line
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 July 2022
1,490
Additions
1,049
At 30 June 2023
2,539
Depreciation
At 1 July 2022
1,270
Charge for the year
460
At 30 June 2023
1,730
Net book value
At 30 June 2023
809
At 30 June 2022
220
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MASTERMIND STRATEGIES LTD. Notes to the Accounts for the year ended 30 June 2023
5
Debtors
2023
2022
£
£
Amounts falling due within one year
Trade debtors
-
20,800
Other debtors
13,743
-
13,743
20,800
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxes and social security
8,204
14,950
Loans from directors
-
429
8,204
15,379
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
8,392
11,394
8
Share capital
2023
2022
£
£
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
9
Transactions with related parties
The dividend was not illegal as it was based on interim accounts which showed there were sufficient profits available for distribution at the time the dividend was paid.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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