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Registration number: 07736136

Mind & Body Therapies Limited
Annual Report and
Unaudited Financial Statements

31 August 2023

 

Mind & Body Therapies Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Mind & Body Therapies Limited

Balance Sheet
31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,434

2,955

Current assets

 

Debtors

5

450

450

Cash at bank and in hand

 

2,220

558

 

2,670

1,008

Creditors: Amounts falling due within one year

6

(39,113)

(32,908)

Net current liabilities

 

(36,443)

(31,900)

Net liabilities

 

(34,009)

(28,945)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(34,011)

(28,947)

Shareholders' deficit

 

(34,009)

(28,945)

 

Mind & Body Therapies Limited

Balance Sheet
31 August 2023

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.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Ms A Lowe
Director

Company Registration Number: 07736136

 

Mind & Body Therapies Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2023

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
52 Bolton Street
Bury
Lancashire
BL9 0LL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, due to the continued support of the Shareholders, who have indicated that this support will continue as required.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Mind & Body Therapies Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2023

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & equipment

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

Mind & Body Therapies Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 0 (2022 - 2).

 

Mind & Body Therapies Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 September 2022

10,398

10,398

At 31 August 2023

10,398

10,398

Depreciation

At 1 September 2022

7,443

7,443

Charge for the year

521

521

At 31 August 2023

7,964

7,964

Carrying amount

At 31 August 2023

2,434

2,434

At 31 August 2022

2,955

2,955

5

Debtors

Current

2023
£

2022
£

Other debtors

450

450

 

450

450

 

Mind & Body Therapies Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

39,113

32,908

7

Related party transactions

Directors' remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.