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COMPANY REGISTRATION NUMBER: 07000604
Minty Project Management Limited
Filleted Unaudited Financial Statements
31 July 2024
Minty Project Management Limited
Financial Statements
Year ended 31 July 2024
Contents
Page
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Minty Project Management Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Minty Project Management Limited
Year ended 31 July 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 July 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
WHITEFIELD & CO Chartered Certified Accountants
8 Wolsey Mansions Main Avenue Moor Park Middlesex HA6 2HL
25 April 2025
Minty Project Management Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,694,917
1,712,996
Current assets
Stocks
6
2,482,080
2,338,080
Debtors: due within one year
7
1,328,812
1,289,570
Cash at bank and in hand
759,455
142,756
------------
------------
4,570,347
3,770,406
Prepayments and accrued income
172,126
175,195
Creditors: amounts falling due within one year
8
2,600,754
2,604,223
------------
------------
Net current assets
2,141,719
1,341,378
------------
------------
Total assets less current liabilities
3,836,636
3,054,374
Provisions
29,875
12,785
------------
------------
Net assets
3,806,761
3,041,589
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,806,661
3,041,489
------------
------------
Shareholder funds
3,806,761
3,041,589
------------
------------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 member has 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Minty Project Management Limited
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 25 April 2025 , and are signed on behalf of the board by:
Mr.R Shaw
Director
Company registration number: 07000604
Minty Project Management Limited
Notes to the Financial Statements
Year ended 31 July 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 8 Wolsey Mansions, Main Avenue, Northwood, Middlesex, HA6 2HL, UK.
2. 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
Long leasehold property
-
2% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 18 ).
4. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
398,213
47,457
Deferred tax:
Origination and reversal of timing differences
17,090
7,275
---------
--------
Tax on profit
415,303
54,732
---------
--------
5. Tangible assets
Long leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
1,817,532
315,204
24,995
2,157,731
Additions
61,770
61,770
------------
---------
--------
------------
At 31 July 2024
1,817,532
376,974
24,995
2,219,501
------------
---------
--------
------------
Depreciation
At 1 August 2023
216,764
213,521
14,450
444,735
Charge for the year
36,350
40,863
2,636
79,849
------------
---------
--------
------------
At 31 July 2024
253,114
254,384
17,086
524,584
------------
---------
--------
------------
Carrying amount
At 31 July 2024
1,564,418
122,590
7,909
1,694,917
------------
---------
--------
------------
At 31 July 2023
1,600,768
101,683
10,545
1,712,996
------------
---------
--------
------------
6. Stocks
2024
2023
£
£
Finished and work in progress
2,482,080
2,338,080
------------
------------
7. Debtors
Debtors falling due within one year are as follows:
2024
2023
£
£
Other debtors
1,328,812
1,289,570
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,871,219
1,871,219
Corporation tax
398,213
47,457
Social security and other taxes
26,502
388,612
Other creditors
304,820
296,935
------------
------------
2,600,754
2,604,223
------------
------------
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
29,875
12,785
--------
--------
10. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 13,776 (2023: £ 20,296 ).
11. Big screen productions partnership.
The company is a member of the the Big Screen Productions 13 and 17 LLP. No income was received from the partnership during the year.
12. Director's advances, credits and guarantees
At the year end the company was owed £437,102(2023-£551,514) by the director. This loan is interest free and repayable on demand.
13. Related party transactions
During the year the company was charged rent of £144,000 (2023-£121,500) by a company under common control. At the year end the company owed £1,871,219 (2023-1,871,219)) to a company under common control. This loan is interest free and repayable on demand.This company will be liquidated during 2025. At the year end the company was owed £793,544(2023-£738,055) by a company under common control. This loan is interest free and payable on demand. During the year the director received dividends of £327,000(2023-£572,000)