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REGISTERED NUMBER: NI050739 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 May 2023

for

MINDERS LIMITED

MINDERS LIMITED (REGISTERED NUMBER: NI050739)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MINDERS LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs Suzanne Smyth
Mr Liam Smyth





SECRETARY: Mrs Suzanne Smyth





REGISTERED OFFICE: 17 Market Street
Downpatrick
Co. Down
BT30 6LP





REGISTERED NUMBER: NI050739 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

MINDERS LIMITED (REGISTERED NUMBER: NI050739)

Abridged Balance Sheet
31 MAY 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 109,375 131,250
Tangible assets 5 252,471 277,718
361,846 408,968

CURRENT ASSETS
Stocks 36,328 30,107
Debtors 41,749 9,695
Cash at bank 347,528 501,342
425,605 541,144
CREDITORS
Amounts falling due within one year 46,962 186,908
NET CURRENT ASSETS 378,643 354,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

740,489

763,204

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 740,289 763,004
SHAREHOLDERS' FUNDS 740,489 763,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MINDERS LIMITED (REGISTERED NUMBER: NI050739)

Abridged Balance Sheet - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by:





Mr Liam Smyth - Director


MINDERS LIMITED (REGISTERED NUMBER: NI050739)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Minders Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - 5% on cost
Fixtures and fittings - 10% 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 Income Statement, 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.

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.

MINDERS LIMITED (REGISTERED NUMBER: NI050739)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Dividends paid and received
Dividends paid and received are included in the company financial statements in the period in which the related dividends are actually paid or received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 437,500
AMORTISATION
At 1 June 2022 306,250
Amortisation for year 21,875
At 31 May 2023 328,125
NET BOOK VALUE

At 31 May 2023 109,375
At 31 May 2022 131,250

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 539,941
DEPRECIATION
At 1 June 2022 262,223
Charge for year 25,247
At 31 May 2023 287,470
NET BOOK VALUE
At 31 May 2023 252,471
At 31 May 2022 277,718

MINDERS LIMITED (REGISTERED NUMBER: NI050739)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2023


6. RELATED PARTY DISCLOSURES

The company was under the control of Mr L Smyth and Mrs S Smyth throughout the current period. Mr and Mrs Smyth are directors and majority shareholders.

No transactions with related parties were undertaken such as required to be disclosed under Financial Reporting Standards.