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Mindfolio Limited
Filleted accounts
31 December 2023
Company registration number: 04093799
Mindfolio Limited
Directors and other information
Director K Kalcher
Company number 04093799
Registered office The Barn Harpsden Court
Harpsden
Henley-on-Thames
Oxfordshire
RG9 4AX
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Mindfolio Limited
Balance sheet
31st December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 - 584
_______ _______
- 584
Current assets
Debtors 7 37,987 18,513
Cash at bank and in hand 945,919 1,137,121
_______ _______
983,906 1,155,634
Creditors: amounts falling due
within one year 8 ( 23,231) ( 43,109)
_______ _______
Net current assets 960,675 1,112,525
_______ _______
Net assets 960,675 1,113,109
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 960,575 1,113,009
_______ _______
Shareholders funds 960,675 1,113,109
_______ _______
For the year ending 31 December 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 March 2024 , and are signed on behalf of the board by:
K Kalcher
Director
Company registration number: 04093799
Mindfolio Limited
Notes to the financial statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Barn Harpsden Court, Harpsden, Henley-on-Thames, Oxfordshire, RG9 4AX. There was no significant change in the company's principal activity during the year which continued to be the provision of consultancy services, although the company ceased to trade on 31st December 2023.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trade marks - Straight line basis over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Straight line over 10 years
Fittings fixtures and equipment - Straight line basis at 25% and 33%
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1st January 2023 8,521 8,521
Disposals (8,521) (8,521)
_______ _______
At 31st December 2023 - -
_______ _______
Amortisation
At 1st January 2023 8,521 8,521
Disposals ( 8,521) ( 8,521)
_______ _______
At 31st December 2023 - -
_______ _______
Carrying amount
At 31st December 2023 - -
_______ _______
At 31st December 2022 - -
_______ _______
6. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1st January 2023 10,000 134,059 144,059
Additions - 305 305
Disposals ( 10,000) ( 134,364) ( 144,364)
_______ _______ _______
At 31st December 2023 - - -
_______ _______ _______
Depreciation
At 1st January 2023 10,000 133,475 143,475
Disposals ( 10,000) ( 133,475) ( 143,475)
_______ _______ _______
At 31st December 2023 - - -
_______ _______ _______
Carrying amount
At 31st December 2023 - - -
_______ _______ _______
At 31st December 2022 - 584 584
_______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 6,840 15,600
Other debtors 31,147 2,913
_______ _______
37,987 18,513
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 3,696 1,933
Social security and other taxes 4,856 26,403
Other creditors 14,679 14,773
_______ _______
23,231 43,109
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Controlling party
The company is under the control of K Kalcher who owns 100% of the issued share capital.