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Company registration number: 12010868
Everymind Solutions Ltd
Unaudited filleted financial statements
31 December 2024
Everymind Solutions Ltd
Contents
Statement of financial position
Notes to the financial statements
Everymind Solutions Ltd
Statement of financial position
31 December 2024
31/12/24 31/12/23
Note £ £ £ £
Fixed assets
Tangible assets 5 13,376 13,870
_______ _______
13,376 13,870
Current assets
Debtors 6 291,153 274,687
Cash at bank and in hand 67,749 95,861
_______ _______
358,902 370,548
Creditors: amounts falling due
within one year 7 ( 215,301) ( 230,373)
_______ _______
Net current assets 143,601 140,175
_______ _______
Total assets less current liabilities 156,977 154,045
Creditors: amounts falling due
after more than one year 8 ( 59,167) ( 69,167)
Provisions for liabilities ( 2,541) ( 2,635)
_______ _______
Net assets 95,269 82,243
_______ _______
Capital and reserves
Called up share capital 1,800 1,800
Share premium account 803,665 803,665
Profit and loss account ( 710,196) ( 723,222)
_______ _______
Shareholders funds 95,269 82,243
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr Paul Robert McGregor
Director
Company registration number: 12010868
Everymind Solutions Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Cornhouse Buildings, Claydons Lane, Rayleigh, Essex, SS6 7UP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 13 (2023: 15 ).
The aggregate payroll costs incurred during the year were:
Year Period
ended ended
31/12/24 31/12/23
£ £
Wages and salaries 531,181 344,561
Social security costs 51,586 36,111
Other pension costs 12,821 8,380
_______ _______
595,588 389,052
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2024 19,010 19,010
Additions 2,514 2,514
_______ _______
At 31 December 2024 21,524 21,524
_______ _______
Depreciation
At 1 January 2024 5,140 5,140
Charge for the year 3,008 3,008
_______ _______
At 31 December 2024 8,148 8,148
_______ _______
Carrying amount
At 31 December 2024 13,376 13,376
_______ _______
At 31 December 2023 13,870 13,870
_______ _______
6. Debtors
31/12/24 31/12/23
£ £
Trade debtors 120,296 103,487
Other debtors 170,857 171,200
_______ _______
291,153 274,687
_______ _______
7. Creditors: amounts falling due within one year
31/12/24 31/12/23
£ £
Bank loans and overdrafts 10,067 10,000
Trade creditors 7,925 4,917
Social security and other taxes 36,299 37,237
Other creditors 161,010 178,219
_______ _______
215,301 230,373
_______ _______
8. Creditors: amounts falling due after more than one year
31/12/24 31/12/23
£ £
Bank loans and overdrafts 9,167 19,167
Other creditors 50,000 50,000
_______ _______
59,167 69,167
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Year ended 31/12/24
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Paul Robert McGregor ( 5,729) ( 673) ( 6,402)
_______ _______ _______
Period ended 31/12/23
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Paul Robert McGregor ( 6,797) 1,068 ( 5,729)
_______ _______ _______