Company registration number 10703612 (England and Wales)
MINTERTAINMENT HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
MINTERTAINMENT HOLDINGS LIMITED
COMPANY INFORMATION
Director
Mr S E Minter
Company number
10703612
Registered office
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
Accountants
Carpenter Box
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
MINTERTAINMENT HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
MINTERTAINMENT HOLDINGS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MINTERTAINMENT HOLDINGS LIMITED FOR THE YEAR ENDED 31 JULY 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mintertainment Holdings Limited for the year ended 31 July 2024 which comprise, the balance sheet 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 at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Mintertainment Holdings Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mintertainment Holdings Limited and state those matters that we have agreed to state to the board of directors of Mintertainment Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mintertainment Holdings Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Mintertainment Holdings 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 profit of Mintertainment Holdings Limited. You consider that Mintertainment Holdings 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 Mintertainment Holdings 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.
Carpenter Box
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
MINTERTAINMENT HOLDINGS LIMITED
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
4,790,550
4,230,773
Current assets
Debtors
4
9,312,148
9,101,637
Cash at bank and in hand
630,326
545,719
9,942,474
9,647,356
Creditors: amounts falling due within one year
5
(28,184)
(1,042,294)
Net current assets
9,914,290
8,605,062
Total assets less current liabilities
14,704,840
12,835,835
Provisions for liabilities
(99,132)
(16,009)
Net assets
14,605,708
12,819,826
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
14,605,608
12,819,726
Total equity
14,605,708
12,819,826
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 24 March 2025
Mr S E Minter
Director
Company registration number 10703612 (England and Wales)
MINTERTAINMENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Mintertainment Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
MINTERTAINMENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.9
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons employed by the company during the year was 0 (2023 - 0).
MINTERTAINMENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
76
26
Other investments other than loans
4,790,474
4,230,747
4,790,550
4,230,773
Fixed asset investments revalued
Investments relate to listed investments therefore the market value relates to market information available.
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Business investments
Total
£
£
£
£
Cost or valuation
At 1 August 2023
26
4,157,247
73,500
4,230,773
Additions
50
76,585
49,000
125,635
Valuation changes
-
345,053
-
345,053
Dividends received
-
89,089
-
89,089
At 31 July 2024
76
4,667,974
122,500
4,790,550
Carrying amount
At 31 July 2024
76
4,667,974
122,500
4,790,550
At 31 July 2023
26
4,157,247
73,500
4,230,773
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
3,033,974
3,278,732
Other debtors
6,278,174
5,822,905
9,312,148
9,101,637
MINTERTAINMENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
10
Taxation and social security
25,942
1,040,314
Other creditors
2,232
1,980
28,184
1,042,294
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Opening balance
Amounts advanced
Closing balance
£
£
£
3,519,358
34,404
3,553,762
3,519,358
34,404
3,553,762