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Registered number: 10850926
Mine (Shaftesbury) Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Hub Accountants Limited
Chartered Accountants
Innovation House
Wincombe Lane
Shaftesbury
Dorset
SP7 8FG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10850926
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 69,181 33,104
69,181 33,104
CURRENT ASSETS
Stocks 50,000 48,600
Debtors 6 10,499 9,582
Cash at bank and in hand 129,774 110,841
190,273 169,023
Creditors: Amounts Falling Due Within One Year 7 (45,733 ) (48,695 )
NET CURRENT ASSETS (LIABILITIES) 144,540 120,328
TOTAL ASSETS LESS CURRENT LIABILITIES 213,721 153,432
Creditors: Amounts Falling Due After More Than One Year 8 (76,904 ) (49,904 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,295 ) (8,276 )
NET ASSETS 119,522 95,252
CAPITAL AND RESERVES
Called up share capital 10 104 104
Profit and Loss Account 119,418 95,148
SHAREHOLDERS' FUNDS 119,522 95,252
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Rebecca Combes
Director
7th October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mine (Shaftesbury) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10850926 . The registered office is Copse Side Farm, Ansty, Wiltshire, SP3 5PS.
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. Turnover
Turnover represents amounts receivable for goods sold net of VAT.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 10% Straight Line
Computer Equipment 3 Years straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 50,000
As at 31 July 2024 50,000
Amortisation
As at 1 August 2023 50,000
As at 31 July 2024 50,000
...CONTINUED
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Page 5
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 - 64,989 2,634 67,623
Additions 57,495 - - 57,495
As at 31 July 2024 57,495 64,989 2,634 125,118
Depreciation
As at 1 August 2023 - 32,430 2,089 34,519
Provided during the period 14,374 6,499 545 21,418
As at 31 July 2024 14,374 38,929 2,634 55,937
Net Book Value
As at 31 July 2024 43,121 26,060 - 69,181
As at 1 August 2023 - 32,559 545 33,104
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,035 7,391
Prepayments and accrued income 1,634 1,248
Other debtors 830 943
10,499 9,582
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,889 -
Trade creditors 8,289 20,724
Corporation tax 15,362 26,639
Other taxes and social security 245 -
VAT 8,736 461
Net wages 111 -
...CONTINUED
Page 5
Page 6
Other creditors 2,473 -
Accruals and deferred income 196 50
Director's loan account 432 821
45,733 48,695
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,000 -
Loan - Rob Beale 33,954 33,954
Loan - A & B Beale 15,950 15,950
76,904 49,904
9. Secured Creditors
Hire purchase creditors are secured on the asset to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 36,889 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 104 104
11. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 59,250 87,770
12. Related Party Transactions
At the year end the company had loans outstanding to the following who are connected to the director, Mrs R Combes.
Mr R Beale £33,954 (2023: £33,954)
A & B Beale £15,950 (2023: £15,950)
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