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REGISTERED NUMBER: 07717858 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 December 2023

for

Mindcom Investments Limited

Mindcom Investments Limited (Registered number: 07717858)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Mindcom Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T O'Shea
J O'Shea
C O'Shea





SECRETARY: Mrs N O'Shea





REGISTERED OFFICE: Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA





REGISTERED NUMBER: 07717858 (England and Wales)





ACCOUNTANTS: JDC Chartered Accountants and Business Advisors
Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Mindcom Investments Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mindcom Investments Limited for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mindcom Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mindcom Investments Limited and state those matters that we have agreed to state to the Board of Directors of Mindcom Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mindcom Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mindcom Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Mindcom Investments Limited. You consider that Mindcom Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mindcom Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JDC Chartered Accountants and Business Advisors
Dencora Court
2 Meridian Way
Norwich
Norfolk
NR7 0TA


4 November 2024

Mindcom Investments Limited (Registered number: 07717858)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,511 34,310
Investments 5 2,295,449 2,362,350
2,301,960 2,396,660

CURRENT ASSETS
Debtors 6 228,304 221,836
Cash at bank and in hand 345,823 377,915
574,127 599,751
CREDITORS
Amounts falling due within one year 63,714 76,680
NET CURRENT ASSETS 510,413 523,071
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,812,373

2,919,731

CREDITORS
Amounts falling due after more than one
year

-

(16,271

)

PROVISIONS FOR LIABILITIES (1,628 ) (34,392 )
NET ASSETS 2,810,745 2,869,068

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,810,741 2,869,064
SHAREHOLDERS' FUNDS 2,810,745 2,869,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Mindcom Investments Limited (Registered number: 07717858)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 November 2024 and were signed on its behalf by:





T O'Shea - Director


Mindcom Investments Limited (Registered number: 07717858)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Mindcom Investments 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Taxation
Taxation for the year 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.

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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Mindcom Investments Limited (Registered number: 07717858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Investments
Unlisted investments are valued at cost less provision for impairment. Listed investments and crypto assets are included at their market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 72,878
Additions 4,892
Disposals (56,380 )
At 31 December 2023 21,390
DEPRECIATION
At 1 January 2023 38,568
Charge for year 2,622
Eliminated on disposal (26,311 )
At 31 December 2023 14,879
NET BOOK VALUE
At 31 December 2023 6,511
At 31 December 2022 34,310

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 January 2023 2,297,186
Disposals (265,420 )
Revaluations 201,519
At 31 December 2023 2,233,285
NET BOOK VALUE
At 31 December 2023 2,233,285
At 31 December 2022 2,297,186

Mindcom Investments Limited (Registered number: 07717858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 December 2023 is represented by:
Totals
£   
Valuation in 2015 1,916,095
Valuation in 2016 (1,050,087 )
Valuation in 2017 (671,616 )
Valuation in 2018 (340,385 )
Valuation in 2019 194,554
Valuation in 2020 (104,366 )
Valuation in 2021 261,274
Valuation in 2022 (228,689 )
Valuation in 2023 111,835
Cost 2,144,670
2,233,285
Information on loans is as follows:
Totals
£   
At 1 January 2023 65,164
Disposals (3,000 )
At 31 December 2023 62,164

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other debtors - 47,363

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts - 25,569

Obligations under hire purchase agreements are secured on the assets acquired.

Mindcom Investments Limited (Registered number: 07717858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
T O'Shea
Balance outstanding at start of year 111,835 80,175
Amounts advanced 165,647 112,238
Amounts repaid (111,835 ) (80,578 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 165,647 111,835

During the year the company advanced one of the directors funds of £165,647 (2022: £111,835) by way of a loan. Interest at the approved HMRC rate was charged on the loan which amounted to £3,686 (2022: £1,901) for the year. The loan which was unsecured, was repaid in full on 16 September 2024.