Registered number
11722171
U in Mind Care Limited
Filleted Accounts
31 December 2023
U in Mind Care Limited
Registered number: 11722171
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 468,119 129,999
Current assets
Debtors 4 9,700 9,700
Cash at bank and in hand 103,836 58,233
113,536 67,933
Creditors: amounts falling due within one year 5 (258,881) (85,938)
Net current liabilities (145,345) (18,005)
Total assets less current liabilities 322,774 111,994
Creditors: amounts falling due after more than one year 6 (1,552) -
Net assets 321,222 111,994
Capital and reserves
Profit and loss account 321,222 111,994
Shareholders' funds 321,222 111,994
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.
R Dzafundwa V Dzafundwa
Director Director
Approved by the board on 6 September 2024
U in Mind Care Limited
Notes to the Accounts
for the year ended 31 December 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 87,000 43,459 - 130,459
Additions 302,720 460 54,655 357,835
At 31 December 2023 389,720 43,919 54,655 488,294
Depreciation
At 1 January 2023 - 460 - 460
Charge for the year - 8,784 10,931 19,715
At 31 December 2023 - 9,244 10,931 20,175
Net book value
At 31 December 2023 389,720 34,675 43,724 468,119
At 31 December 2022 87,000 42,999 - 129,999
4 Debtors 2023 2022
£ £
Other debtors 9,700 9,700
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 101,417 26,389
Obligations under finance lease and hire purchase contracts 38,798 -
Taxation and social security costs 75,166 26,299
Directors Loan Account 40,000 -
Directors Loan Account
Other creditors 3,500 33,250
258,881 85,938
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 1,552 -
7 Other information
U in Mind Care Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4
30-32 Princes Stret
Ipswich
Suffolk
IP1 1RJ
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