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Company No: 05567593 (England and Wales)

MIND COACH SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

MIND COACH SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

MIND COACH SOLUTIONS LIMITED

COMPANY INFORMATION

For the financial year ended 31 August 2023
MIND COACH SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2023
DIRECTOR Mr R Wood
SECRETARY Mrs D Wood
REGISTERED OFFICE Ground Floor Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
United Kingdom
COMPANY NUMBER 05567593 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
MIND COACH SOLUTIONS LIMITED

BALANCE SHEET

As at 31 August 2023
MIND COACH SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,100 1,503
3,100 1,503
Current assets
Debtors 4 27,737 14,520
Cash at bank and in hand 5 108,614 91,458
136,351 105,978
Creditors: amounts falling due within one year 6 ( 32,236) ( 15,755)
Net current assets 104,115 90,223
Total assets less current liabilities 107,215 91,726
Provision for liabilities 7 ( 775) 0
Net assets 106,440 91,726
Capital and reserves
Called-up share capital 8 1 1
Profit and loss account 106,439 91,725
Total shareholder's funds 106,440 91,726

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mind Coach Solutions Limited (registered number: 05567593) were approved and authorised for issue by the Director on 22 February 2024. They were signed on its behalf by:

Mr R Wood
Director
MIND COACH SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
MIND COACH SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mind Coach Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net value of added tax, in respect of the provision of services to customers.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced.

Employee benefits

Defined contribution schemes
The company contributes to the personal pension schemes of the director and employee. The assets of the schemes are held separately from those of the company. The payments are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment 20 % reducing balance
Computer equipment 35 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 September 2022 3,506 11,338 14,844
Additions 529 1,713 2,242
At 31 August 2023 4,035 13,051 17,086
Accumulated depreciation
At 01 September 2022 2,752 10,589 13,341
Charge for the financial year 160 485 645
At 31 August 2023 2,912 11,074 13,986
Net book value
At 31 August 2023 1,123 1,977 3,100
At 31 August 2022 754 749 1,503

4. Debtors

2023 2022
£ £
Trade debtors 12,960 14,520
Amounts recoverable on contracts 14,400 0
Prepayments 377 0
27,737 14,520

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 108,614 91,458

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 7,410 7,885
Accruals 2,999 2,849
Corporation tax 20,012 3,667
Other taxation and social security 1,815 596
Other creditors 0 758
32,236 15,755

7. Deferred tax

2023 2022
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 775) 0
0 0
At the end of financial year ( 775) 0

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1