REGISTERED NUMBER: 10881051 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Mind Your Beans Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Merne

G O'Keeffe

REGISTERED OFFICE:

9 Rosamond Road

Bedford

Bedfordshire

MK40 3SR

REGISTERED NUMBER:

10881051 (England and Wales)

ACCOUNTANTS:

Connolly Accountants & Business Advisors Ltd

Chartered Certified Accountants

The Stable Yard

25-33 Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

FIXED ASSETS

Investment property

4

200,000

195,000

CURRENT ASSETS

Cash at bank

1,242

933

CREDITORS

Amounts falling due within one year

5

76,242

75,763

NET CURRENT LIABILITIES

(75,000

)

(74,830

)

TOTAL ASSETS LESS CURRENT LIABILITIES

125,000

120,170

CREDITORS

Amounts falling due after more than one year

6

140,137

140,137

NET LIABILITIES

(15,137

)

(19,967

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(15,139

)

(19,969

)

(15,137

)

(19,967

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:

G O'Keeffe - Director

1.	STATUTORY INFORMATION

Mind Your Beans 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.

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.

Going concern

These accounts have been prepared on the going concern basis. The company has net liabilities on the balance sheet and is reliant upon the continued support of the directors.

Turnover

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related companies 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.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2023

195,000

Revaluations

5,000

At 31 July 2024

200,000

NET BOOK VALUE

At 31 July 2024

200,000

At 31 July 2023

195,000

Fair value at 31 July 2024 is represented by:

£

Valuation in 2019

(26,091

)

Valuation in 2020

3,000

Valuation in 2022

7,000

Valuation in 2023

10,000

Valuation in 2024

5,000

Cost

201,091

200,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

201,091

201,091

The revaluation was carried out by the directors on an open market, existing use basis.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other creditors

76,242

75,763

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

140,137

140,137

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 yrs

140,137

140,137

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Mortgage

140,137

140,137

The company has a mortgage secured by a floating charge against all the property and undertaking of the company.