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Company Registration No. 03710677 (England and Wales)
Mutual Ideas Limited Unaudited accounts for the year ended 28 February 2023
Mutual Ideas Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
933 
1,508 
Current assets
Debtors
7,500 
7,500 
Cash at bank and in hand
6,333 
1,621 
13,833 
9,121 
Creditors: amounts falling due within one year
(12,171)
(7,038)
Net current assets
1,662 
2,083 
Net assets
2,595 
3,591 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,495 
3,491 
Shareholders' funds
2,595 
3,591 
For the year ending 28 February 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 directors acknowledge their 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 of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by
Mrs C Maloney Director Company Registration No. 03710677
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Mutual Ideas Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Mutual Ideas Limited is a private company, limited by shares, registered in England and Wales, registration number 03710677. The registered office is 37 Benjamin Gray Drive, Littlehampton, West Sussex, BN17 7FA, United Kingdom.
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.
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:
Fixtures & fittings
20% straight line basis
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2022
5,688 
At 28 February 2023
5,688 
Depreciation
At 1 March 2022
4,180 
Charge for the year
575 
At 28 February 2023
4,755 
Net book value
At 28 February 2023
933 
At 28 February 2022
1,508 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
47,553 
56,303 
Accrued income and prepayments
7,500 
7,500 
Other debtors
(47,553)
(56,303)
7,500 
7,500 
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Mutual Ideas Limited Notes to the Accounts for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,847 
1,776 
Trade creditors
851 
1,629 
Taxes and social security
195 
464 
Loans from directors
7,479 
207 
Accruals
799 
2,962 
12,171 
7,038 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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