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Company Registration No. 14087162 (England and Wales)
Openminds Psychology Limited Unaudited accounts for the period from 5 May 2022 to 31 May 2023
Openminds Psychology Limited Unaudited accounts Contents
Page
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Openminds Psychology Limited Company Information for the period from 5 May 2022 to 31 May 2023
Director
Rebecca Serella
Company Number
14087162 (England and Wales)
Registered Office
UNIT 1B 2 HALLIDAYS FARM BILSBORROW PRESTON PR3 0RU UNITED KINGDOM
Accountants
Walling Accountants Unit 1B Hallidays Farm Bilsborrow Preston PR3 0RU
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Openminds Psychology Limited Statement of financial position as at 31 May 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
1,339 
Current assets
Debtors
1,625 
Cash at bank and in hand
5,201 
6,826 
Creditors: amounts falling due within one year
(2,606)
Net current assets
4,220 
Total assets less current liabilities
5,559 
Creditors: amounts falling due after more than one year
(108)
Provisions for liabilities
Deferred tax
(254)
Net assets
5,197 
Capital and reserves
Called up share capital
1 
Profit and loss account
5,196 
Shareholders' funds
5,197 
For the period ending 31 May 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 1 February 2024 and were signed on its behalf by
Rebecca Serella Director Company Registration No. 14087162
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Openminds Psychology Limited Notes to the Accounts for the period from 5 May 2022 to 31 May 2023
1
Statutory information
Openminds Psychology Limited is a private company, limited by shares, registered in England and Wales, registration number 14087162. The registered office is UNIT 1B 2 HALLIDAYS FARM, BILSBORROW, PRESTON, PR3 0RU, 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 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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 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
25% Reducing balance
Computer equipment
33.3% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Openminds Psychology Limited Notes to the Accounts for the period from 5 May 2022 to 31 May 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 5 May 2022
- 
- 
- 
Additions
1,386 
170 
1,556 
At 31 May 2023
1,386 
170 
1,556 
Depreciation
Charge for the period
184 
33 
217 
At 31 May 2023
184 
33 
217 
Net book value
At 31 May 2023
1,202 
137 
1,339 
5
Debtors
2023 
£ 
Amounts falling due after more than one year
Other debtors
1,625 
6
Creditors: amounts falling due within one year
2023 
£ 
Taxes and social security
2,606 
7
Creditors: amounts falling due after more than one year
2023 
£ 
Loans from directors
108 
8
Average number of employees
During the period the average number of employees was 0.
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