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REGISTERED NUMBER: 12194300 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

OPEN MINDS WELLBEING LTD

OPEN MINDS WELLBEING LTD (REGISTERED NUMBER: 12194300)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OPEN MINDS WELLBEING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Mrs H J Wilson





REGISTERED OFFICE: 7 Hele Road
Bradninch
Exeter
Devon
EX5 4AZ





REGISTERED NUMBER: 12194300 (England and Wales)





ACCOUNTANTS: Merlin Accountancy Services Ltd
2nd Floor
33 Longbrook Street
Exeter
Devon
EX4 6AW

OPEN MINDS WELLBEING LTD (REGISTERED NUMBER: 12194300)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,440
Tangible assets 5 349 466
349 1,906

CURRENT ASSETS
Debtors 6 597 390
Cash at bank 7,628 14,729
8,225 15,119
CREDITORS
Amounts falling due within one year 7 12,374 11,029
NET CURRENT (LIABILITIES)/ASSETS (4,149 ) 4,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,800

)

5,996

PROVISIONS FOR LIABILITIES 8 66 89
NET (LIABILITIES)/ASSETS (3,866 ) 5,907

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (3,867 ) 5,906
10 (3,866 ) 5,907

OPEN MINDS WELLBEING LTD (REGISTERED NUMBER: 12194300)

BALANCE SHEET - continued
30 SEPTEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 February 2025 and were signed by:





Mrs H J Wilson - Director


OPEN MINDS WELLBEING LTD (REGISTERED NUMBER: 12194300)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Open Minds Wellbeing Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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.


OPEN MINDS WELLBEING LTD (REGISTERED NUMBER: 12194300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 7,200
AMORTISATION
At 1 October 2023 5,760
Charge for year 1,440
At 30 September 2024 7,200
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 1,440

OPEN MINDS WELLBEING LTD (REGISTERED NUMBER: 12194300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2023
and 30 September 2024 974
DEPRECIATION
At 1 October 2023 508
Charge for year 117
At 30 September 2024 625
NET BOOK VALUE
At 30 September 2024 349
At 30 September 2023 466

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors - 390
Other debtors 597 -
597 390

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 72 1,535
Other creditors 12,302 9,494
12,374 11,029

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 66 89

OPEN MINDS WELLBEING LTD (REGISTERED NUMBER: 12194300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 89
Credit to Income Statement during year (23 )
Balance at 30 September 2024 66

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs H J Wilson.

10. RECONCILIATION OF MOVEMENTS IN RESERVES
2024 2023
£    £   
(Loss)/profit for the financial year (3,873 ) 4,977
Dividends (5,900 ) (9,000 )
Net reduction of reserves (9,773 ) (4,023 )
Opening reserves 5,907 9,930
Closing reserves (3,866 ) 5,907