Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsetruefalse22023-06-01No description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14139782 2023-06-01 2024-05-31 14139782 2022-05-30 2023-05-31 14139782 2024-05-31 14139782 2023-05-31 14139782 c:Director8 2023-06-01 2024-05-31 14139782 d:ComputerEquipment 2023-06-01 2024-05-31 14139782 d:ComputerEquipment 2024-05-31 14139782 d:ComputerEquipment 2023-05-31 14139782 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 14139782 d:CurrentFinancialInstruments 2024-05-31 14139782 d:CurrentFinancialInstruments 2023-05-31 14139782 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14139782 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14139782 d:ShareCapital 2023-06-01 2024-05-31 14139782 d:ShareCapital 2024-05-31 14139782 d:ShareCapital 2022-05-30 2023-05-31 14139782 d:ShareCapital 2023-05-31 14139782 d:SharePremium 2023-06-01 2024-05-31 14139782 d:SharePremium 2024-05-31 14139782 d:SharePremium 2022-05-30 2023-05-31 14139782 d:SharePremium 2023-05-31 14139782 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 14139782 d:RetainedEarningsAccumulatedLosses 2024-05-31 14139782 d:RetainedEarningsAccumulatedLosses 2022-05-30 2023-05-31 14139782 d:RetainedEarningsAccumulatedLosses 2023-05-31 14139782 c:OrdinaryShareClass1 2023-06-01 2024-05-31 14139782 c:OrdinaryShareClass1 2024-05-31 14139782 c:OrdinaryShareClass1 2023-05-31 14139782 c:FRS102 2023-06-01 2024-05-31 14139782 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 14139782 c:FullAccounts 2023-06-01 2024-05-31 14139782 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14139782 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14139782










MIDLANDS MINDFORGE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
MIDLANDS MINDFORGE LIMITED
REGISTERED NUMBER: 14139782

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
193
-

  
193
-

Current assets
  

Debtors: amounts falling due within one year
 5 
40,929
21,204

Cash at bank and in hand
 6 
290,125
865,564

  
331,054
886,768

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(66,292)
(73,201)

Net current assets
  
264,762
813,567

Total assets less current liabilities
  
264,955
813,567

Net assets
  
264,955
813,567


Capital and reserves
  

Called up share capital 
 8 
-
-

Share premium account
  
2,002,000
1,400,000

Profit and loss account
  
(1,737,045)
(586,433)

  
264,955
813,567


Page 1

 
MIDLANDS MINDFORGE LIMITED
REGISTERED NUMBER: 14139782

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A M G Rees
Director

Date: 20 November 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 2

 
MIDLANDS MINDFORGE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£



Loss for the period
-
-
(586,433)
(586,433)

Shares issued during the period
-
1,400,000
-
1,400,000



At 1 June 2023
-
1,400,000
(586,433)
813,567



Loss for the year
-
-
(1,150,612)
(1,150,612)

Shares issued during the year
-
602,000
-
602,000


At 31 May 2024
-
2,002,000
(1,737,045)
264,955


The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
MIDLANDS MINDFORGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Midlands Mindforge Limited is a private company limited by share capital, incorporated in England and Wales. The address of the registered office is 1 Park Row, Leeds, United Kingdom, LS1 5AB.
The principal activity of the company is that of a capital investment company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
MIDLANDS MINDFORGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
267



At 31 May 2024

267



Depreciation


Charge for the year on owned assets
74



At 31 May 2024

74



Net book value



At 31 May 2024
193



At 31 May 2023
-

Page 5

 
MIDLANDS MINDFORGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Other debtors
37,201
21,204

Prepayments and accrued income
3,728
-

40,929
21,204



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
290,125
865,564



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
23,243
260

Other taxation and social security
19,867
13,354

Accruals and deferred income
23,182
59,587

66,292
73,201



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2,002 (2023 - 1,401) Ordinary shares of £0.00001 each
0.02002
0.01401


During the year 602 Ordinary shares of £0.00001 were issued for a total consideration of £602,000. 
On 1 August 2023 1 share of £0.0001 was bought back at nominal value and cancelled.


Page 6