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REGISTERED NUMBER: 14545880 (England and Wales)















Unaudited Financial Statements

for the Period 16 December 2022 to 31 March 2024

for

Mindful Memorials Limited

Mindful Memorials Limited (Registered number: 14545880)






Contents of the Financial Statements
for the period 16 December 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mindful Memorials Limited

Company Information
for the period 16 December 2022 to 31 March 2024







DIRECTORS: Mrs A J Buckley
A J Buckley





REGISTERED OFFICE: Rossmoor Park
Melbourne
Yorkshire
YO42 4SZ





REGISTERED NUMBER: 14545880 (England and Wales)





ACCOUNTANTS: Fisher & Company Limited
Kingfisher House
65 Market Place
Market Weighton
York
East Riding of Yorks
YO43 3AN

Mindful Memorials Limited (Registered number: 14545880)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 5
Tangible assets 5 79,557
79,562

CURRENT ASSETS
Stocks 78,467
Debtors 6 135,053
Cash at bank and in hand 21,032
234,552
CREDITORS
Amounts falling due within one year 7 528,887
NET CURRENT LIABILITIES (294,335 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(214,773

)

CREDITORS
Amounts falling due after more than one
year

8

26,407
NET LIABILITIES (241,180 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (241,280 )
(241,180 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mindful Memorials Limited (Registered number: 14545880)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:




A J Buckley - Director



Mrs A J Buckley - Director


Mindful Memorials Limited (Registered number: 14545880)

Notes to the Financial Statements
for the period 16 December 2022 to 31 March 2024

1. STATUTORY INFORMATION

Mindful Memorials Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on the directors historical experience and knowledge as well as other factors which may be considered relevant, as a result the actual results may differ from these estimates.

The estimates and underlying assumptions applied are reviewed by the directors on an ongoing basis.

Revisions to these accounting estimates are recognised in the period to which the the revisions have been , revised where these revisions affect only that period, or in the period of revision and future periods where this revision would affect both current and future periods.

No key sources of estimation uncertainty are noted by management that have a significant effect on the amounts recognised in the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Goodwill
Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected useful life, which is five years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when the is an indication that the unit my be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Mindful Memorials Limited (Registered number: 14545880)

Notes to the Financial Statements - continued
for the period 16 December 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Plant and machinery10% - 20%Reducing balance
Fixtures fittings and equipment10% - 20%Reducing balance
Motor vehicles15% - 25%Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Where it is not possible to estimate the recoverable amount on an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use.

If the recoverable amount of an assets is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Mindful Memorials Limited (Registered number: 14545880)

Notes to the Financial Statements - continued
for the period 16 December 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions relating to the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there in an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets:

Basic financial assets, which include trade receivable, cash and bank balances are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market value rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:

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

Basic financial liabilities:

Basic financial liabilities, including creditors, loans from related parties that are classified as debt, are initially recognised at transaction price (unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounts at a market rate of interest). Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors represent obligations to pay for goods and services provided to the company in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year, if not they are presented as amounts due for payment in excess of one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Cash and cash equivalents:

Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Mindful Memorials Limited (Registered number: 14545880)

Notes to the Financial Statements - continued
for the period 16 December 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss sa as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefit fro the leased asset are consumed.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of and employee or to provide terminate benefits.

Going concern
The directors were pleased with the results for the first period of trading having bought the memorial department of J Rotherham Limited from the administrators, it was important to the directors that all debts and advanced payments were honoured as part of this agreement and have been reflected within the first periods reported trading results.

With the above now being honoured and with the overall financial effect of these costs now being reported, the directors are of the opinion that the company is now able to trade freely under its own terms and normal trading conditions, the directors are of the opinion that the company will return to future profitability and that the company will have sufficient working capital to be able to continue to trade into the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 26 .

Mindful Memorials Limited (Registered number: 14545880)

Notes to the Financial Statements - continued
for the period 16 December 2022 to 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 5
At 31 March 2024 5
NET BOOK VALUE
At 31 March 2024 5

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 107,979
Disposals (16,000 )
At 31 March 2024 91,979
DEPRECIATION
Charge for period 14,838
Eliminated on disposal (2,416 )
At 31 March 2024 12,422
NET BOOK VALUE
At 31 March 2024 79,557

The net carrying amount of assets held under finance leases included in plant and machinery above is £41,153.

6. DEBTORS
£   
Amounts falling due within one year:
Trade debtors 9,521
Other debtors 47,939
57,460

Amounts falling due after more than one year:
Other debtors 77,593

Aggregate amounts 135,053

Deferred tax asset
£   
Accelerated capital allowances (19,889 )
Tax losses carried forward 97,482
77,593

Mindful Memorials Limited (Registered number: 14545880)

Notes to the Financial Statements - continued
for the period 16 December 2022 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts (see note 9) 11,355
Payments on account 362,845
Trade creditors 76,039
Taxation and social security 68,794
Other creditors 9,854
528,887

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Hire purchase contracts (see note 9) 26,407

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 11,355
Between one and five years 26,407
37,762

Non-cancellable operating leases
£   
Within one year 65,106
Between one and five years 186,094
251,200

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Advances or credits have been granted by the company to the directors as follows:

The facilities are provided interest free up to £10,000 if exceeded interest is charged on the full balance,the facilities provided are unsecured and are repayable on demand.

Description% RateOpeningAmountsAmountsClosing
BalanceAdvancedRepaidBalance
££££
Directors Loans2.25£Nil3,934(2,602)1,332
£Nil3,934(2,602)1,332