Registered number
03269299
Mindaily Limited
Unaudited Filleted Accounts
31 December 2024
Mindaily Limited
Registered number: 03269299
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,906,333 6,906,386
Current assets
Debtors 4 1,014,461 1,014,379
Cash at bank and in hand 39,201 21,184
1,053,662 1,035,563
Creditors: amounts falling due within one year 5 (71,524) (51,879)
Net current assets 982,138 983,684
Total assets less current liabilities 7,888,471 7,890,070
Creditors: amounts falling due after more than one year 6 (1,000,000) (1,000,000)
Provisions for liabilities (1,017,517) (1,017,517)
Net assets 5,870,954 5,872,553
Capital and reserves
Called up share capital 102 102
Share premium 12,400 12,400
Revaluation reserve 7 5,106,082 5,106,082
Profit and loss account 752,370 753,969
Shareholders' funds 5,870,954 5,872,553
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.
Mr H Dupay
Director
Approved by the board on 20 March 2025
Mindaily Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No depreciation
Fixtures, fittings, tools and equipment Straightline basis
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 6,906,333 2,443 6,908,776
At 31 December 2024 6,906,333 2,443 6,908,776
Depreciation
At 1 January 2024 - 2,390 2,390
Charge for the year - 53 53
At 31 December 2024 - 2,443 2,443
Net book value
At 31 December 2024 6,906,333 - 6,906,333
At 31 December 2023 6,906,333 53 6,906,386
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,800,251 1,800,251
Cumulative depreciation based on historical cost - -
1,800,251 1,800,251
4 Debtors 2024 2023
£ £
Trade debtors 2 2
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,000,000 1,000,000
Other debtors 14,459 14,377
1,014,461 1,014,379
Amounts due after more than one year included above 1,000,000 1,000,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 6,513
Taxation and social security costs 47,224 33,678
Other creditors 24,300 11,688
71,524 51,879
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,000,000 1,000,000
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 5,106,082 5,106,082
At 31 December 2024 5,106,082 5,106,082
8 Other information
Mindaily Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Faraday Close
Clacton on Sea
Essex
CO15 4TR
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