2022-12-012023-11-302023-11-30false07858515MIND FLIGHT 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MIND FLIGHT LTD

Registered Number
07858515
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

MIND FLIGHT LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

D Baggett
S Ogali
L Whelan

Company Secretary

AURIA ACCOUNTANCY LIMITED

Registered Address

C/O Auria
48 Warwick Street
London
W1B 5AW

Registered Number

07858515 (England and Wales)
MIND FLIGHT LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets371,40050,000
71,40050,000
Current assets
Debtors23,80517,680
Cash at bank and on hand204451
24,00918,131
Creditors amounts falling due within one year4(36,560)(7,596)
Net current assets (liabilities)(12,551)10,535
Total assets less current liabilities58,84960,535
Creditors amounts falling due after one year5(66,360)(110,810)
Net assets(7,511)(50,275)
Capital and reserves
Called up share capital3,3703,370
Share premium91,75044,800
Profit and loss account(102,631)(98,445)
Shareholders' funds(7,511)(50,275)
The financial statements were approved and authorised for issue by the Board of Directors on 30 August 2024, and are signed on its behalf by:
D Baggett
Director
Registered Company No. 07858515
MIND FLIGHT LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
2.Average number of employees

20232022
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 2250,00050,000
Additions21,40021,400
At 30 November 2371,40071,400
Net book value
At 30 November 2371,40071,400
At 30 November 2250,00050,000
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables36,5604,828
Other creditors-221
Accrued liabilities and deferred income-2,547
Total36,5607,596
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2023

2022

££
Other creditors66,360110,810
Total66,360110,810