Acorah Software Products - Accounts Production 14.6.300 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08004386 Mr Andrew Watts Mrs Ann Khan Andrew Watts & Ann Khan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08004386 2023-03-31 08004386 2024-03-31 08004386 2023-04-01 2024-03-31 08004386 frs-core:CurrentFinancialInstruments 2024-03-31 08004386 frs-core:ComputerEquipment 2024-03-31 08004386 frs-core:ComputerEquipment 2023-04-01 2024-03-31 08004386 frs-core:ComputerEquipment 2023-03-31 08004386 frs-core:PlantMachinery 2024-03-31 08004386 frs-core:PlantMachinery 2023-04-01 2024-03-31 08004386 frs-core:PlantMachinery 2023-03-31 08004386 frs-core:ShareCapital 2024-03-31 08004386 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08004386 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08004386 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08004386 frs-bus:SmallEntities 2023-04-01 2024-03-31 08004386 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08004386 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08004386 1 2023-04-01 2024-03-31 08004386 frs-bus:Director1 2023-04-01 2024-03-31 08004386 frs-bus:Director2 2023-04-01 2024-03-31 08004386 1 2023-04-01 2024-03-31 08004386 frs-countries:EnglandWales 2023-04-01 2024-03-31 08004386 2022-03-31 08004386 2023-03-31 08004386 2022-04-01 2023-03-31 08004386 frs-core:CurrentFinancialInstruments 2023-03-31 08004386 frs-core:ShareCapital 2023-03-31 08004386 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 08004386 1 2022-04-01 2023-03-31
Registered number: 08004386
Minithingsforlife Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
CBS (Accounting) Ltd
Oak Business Centre
79-93 Ratcliffe Road
Sileby
Loughborough
LE12 7PU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08004386
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,654 1,340
1,654 1,340
CURRENT ASSETS
Stocks 5 24,477 28,500
Debtors 6 109 15
Cash at bank and in hand 4,125 6,213
28,711 34,728
Creditors: Amounts Falling Due Within One Year 7 (31,234 ) (31,422 )
NET CURRENT ASSETS (LIABILITIES) (2,523 ) 3,306
TOTAL ASSETS LESS CURRENT LIABILITIES (869 ) 4,646
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (314 ) (255 )
NET (LIABILITIES)/ASSETS (1,183 ) 4,391
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (1,283 ) 4,291
SHAREHOLDERS' FUNDS (1,183) 4,391
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Watts
Director
10/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Minithingsforlife Ltd Registered number 08004386 is a limited by shares company incorporated in England & Wales. The Registered Office is Oak Business Centre, Ratcliffe Road, Sileby, , Loughborough,, Leicestershire, , LE12 7PU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors will continue to support the company.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Computer Equipment 33.33% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Directors 1 1
1 1
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 6,097 360 6,457
Additions 998 - 998
As at 31 March 2024 7,095 360 7,455
Depreciation
As at 1 April 2023 4,877 240 5,117
Provided during the period 564 120 684
As at 31 March 2024 5,441 360 5,801
Net Book Value
As at 31 March 2024 1,654 - 1,654
As at 1 April 2023 1,220 120 1,340
5. Stocks
2024 2023
£ £
Stock 24,477 28,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors (107 ) 15
Prepayments and accrued income 216 -
109 15
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30 188
Accruals and deferred income 509 696
Directors' loan accounts 30,695 30,538
31,234 31,422
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 314 255
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Ultimate Controlling Party
The company's ultimate controlling party are Andrew Watts & Ann Khan by virtue of their ownership of 96% of the issued share capital in the company.
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