Registered number
11261127
North West Young Minds Limited
Filleted Accounts
31 March 2023
North West Young Minds Limited
Registered number: 11261127
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 786 983
Current assets
Debtors 4 8,434 16,733
Cash at bank and in hand 1,744 -
10,178 16,733
Creditors: amounts falling due within one year 5 (6,931) (6,527)
Net current assets 3,247 10,206
Total assets less current liabilities 4,033 11,189
Creditors: amounts falling due after more than one year 6 (9,575) (9,575)
Net (liabilities)/assets (5,542) 1,614
Capital and reserves
Called up share capital 100 100
Profit and loss account (5,642) 1,514
Shareholders' funds (5,542) 1,614
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms J Farrar
Director
Approved by the board on 11 September 2023
North West Young Minds Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 1,815
At 31 March 2023 1,815
Depreciation
At 1 April 2022 832
Charge for the year 197
At 31 March 2023 1,029
Net book value
At 31 March 2023 786
At 31 March 2022 983
4 Debtors 2023 2022
£ £
Trade debtors - 3,484
Other debtors 8,434 13,249
8,434 16,733
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,128 2,403
Taxation and social security costs 1,343 1,649
Other creditors 3,460 2,475
6,931 6,527
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,575 9,575
7 Related party transactions 2023 2022
£ £
Directors Loan Account
The directors are related parties to the company. At 31 March, the related parties (owed)/were owed the following short term, interest free, unsecured loans that are repayable upon demand.
Amounts due to/(from) the related parties (8,434) (13,249)
8 Controlling party
J Farrar, a director, is the ultimate controlling party by virtue of her ownership of 100% of the issued share capital of the company.
9 Other information
North West Young Minds Limited is a private company limited by shares and incorporated in England. Its registered office is:
89 Chorley Road
Swinton
Manchester
M27 4AA
North West Young Minds Limited 11261127 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Ms J Farrar No description of principal activity 11261127 2021-04-01 2022-03-31 11261127 core:WithinOneYear 2022-03-31 11261127 core:AfterOneYear 2022-03-31 11261127 core:ShareCapital 2022-03-31 11261127 core:RetainedEarningsAccumulatedLosses 2022-03-31 11261127 2022-04-01 2023-03-31 11261127 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11261127 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11261127 bus:Director40 2022-04-01 2023-03-31 11261127 1 2022-04-01 2023-03-31 11261127 2 2022-04-01 2023-03-31 11261127 core:PlantMachinery 2022-04-01 2023-03-31 11261127 countries:England 2022-04-01 2023-03-31 11261127 bus:FRS102 2022-04-01 2023-03-31 11261127 bus:FullAccounts 2022-04-01 2023-03-31 11261127 2023-03-31 11261127 core:WithinOneYear 2023-03-31 11261127 core:AfterOneYear 2023-03-31 11261127 core:ShareCapital 2023-03-31 11261127 core:RetainedEarningsAccumulatedLosses 2023-03-31 11261127 core:PlantMachinery 2023-03-31 11261127 2022-03-31 11261127 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure