Registered number
09177706
MASTERINNOMINDS LIMITED
Filleted Accounts
31 August 2023
MASTERINNOMINDS LIMITED
Registered number: 09177706
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,436 7,839
Current assets
Debtors 4 64,500 -
Cash at bank and in hand 328,325 246,179
392,825 246,179
Creditors: amounts falling due within one year 5 (127,838) (70,582)
Net current assets 264,987 175,597
Total assets less current liabilities 278,423 183,436
Creditors: amounts falling due after more than one year 6 (15,081) (20,016)
Net assets 263,342 163,420
Capital and reserves
Called up share capital 100 100
Profit and loss account 263,242 163,320
Shareholders' funds 263,342 163,420
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Harikishan Lanka
Director
Approved by the board on 30 August 2024
MASTERINNOMINDS LIMITED
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 17,900
Additions 9,054
At 31 August 2023 26,954
Depreciation
At 1 September 2022 10,061
Charge for the year 3,457
At 31 August 2023 13,518
Net book value
At 31 August 2023 13,436
At 31 August 2022 7,839
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 64,500 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 91 91
Taxation and social security costs 74,212 36,349
Other creditors 53,535 34,142
127,838 70,582
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,081 20,016
7 Other information
MASTERINNOMINDS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
23 Middlefield
Welwyn Garden City
Hertfordshire
AL7 4DQ
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