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Registered number: 14427214









MINDHOUSE CYBER LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

 
MINDHOUSE CYBER LTD
 
 
COMPANY INFORMATION


Directors
S M L Ardern 
A M Fellows 
N Strang 




Registered number
14427214



Registered office
3rd Floor, Waverley House
7-12 Noel Street

London

United Kingdom

W1F 8GQ




Accountants
Ecovis Wingrave Yeats UK Limited
Chartered Accountants

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
MINDHOUSE CYBER LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
MINDHOUSE CYBER LTD
REGISTERED NUMBER: 14427214

BALANCE SHEET
AS AT 31 JANUARY 2025

2025
Restated 2024
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
100
534,007

Cash at bank and in hand
  
-
102,137

  
100
636,144

Creditors: amounts falling due within one year
 7 
-
(636,044)

Net current assets
  
 
 
100
 
 
100

Total assets less current liabilities
  
100
100

  

Net assets
  
100
100


Capital and reserves
  

Called up share capital 
 8 
100
100

  
100
100


Page 1

 
MINDHOUSE CYBER LTD
REGISTERED NUMBER: 14427214
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 June 2025.




S M L Ardern
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MINDHOUSE CYBER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1.


General information

Mindhouse Cyber Ltd is a private company, limited by shares, incorporated in England & Wales, registration number 14405161. The company's registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, United Kingdom, W1F 8GQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The nature of the Company’s principal activity means that there is significant expenditure during active television production phases and substantially lower costs outside of these periods. The Company’s robust financial planning and funding arrangements ensure operational continuity and financial stability throughout. Therefore, the fluctuating costs associated with our production cycles do not pose a threat to our status as a going concern. Furthermore, the Company’s immediate parent company has indicated its willingness to provide financial support in the 12 months from the date of signing the financial statements if required. As a result, the directors believe that it remains appropriate to continue to adopt the going concern basis in preparing these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue in profit or loss relates to amounts earned in relation to the production of a television programme. Production funding is recognised in profit or loss based on the stage of completion. Revenue in relation to overspends is recognised as it arises in accordance with the stage of completion of the production.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 3

 
MINDHOUSE CYBER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

There were no significant judgments made during the year.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 5).


5.


Taxation

Mindhouse Cyber Ltd has a project that qualifies for creative industry tax reliefs. At the year end there is a tax recoverable amount of £Nil (2024 - £452,311) included within note 6 relating to the estimated value of the tax credit in respect of the claim for the relevant accounting period. At the time of signing these financial statements losses totalling £210,038 (2024 - £125,224) were surrendered as group relief to a group company. Losses carried forward to be offset against future profits or available for group relief totalled £111,988 (2024 - £322,026).

Page 4

 
MINDHOUSE CYBER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

6.


Debtors

2025
2024
£
£


Other debtors
-
5,324

Called up share capital not paid
100
100

Prepayments and accrued income
-
76,272

Tax credit receivable
-
452,311

100
534,007



7.


Creditors: Amounts falling due within one year

2025
Restated 2024
£
£

Trade creditors
-
31,475

Amounts owed to group undertakings
-
113,321

Other creditors
-
452,540

Accruals and deferred income
-
38,708

-
636,044


Included within other creditors at the year end is an unsecured, interest free production advance totalling £452,311 (2023 - £Nil) from the commissioner of the production 'Can I Tell You A Secret?', which is repayable on the receipt of a tax credit.


8.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



100 (2024 - 100) Ordinary shares shares of £1.00 each
100
100



9.


Prior period adjustment

These financial statements reflect a prior year adjustment to apply a correction to reflect the way in which the repayment of a development loan has been accounted for. As a result, other creditors has been increased by £452,311, with a corresponding reduction in the production revenue recognised during the period. In addition, the presentation of the tax credit has been amended and is now recognised within the tax line of the profit and loss.

Page 5

 
MINDHOUSE CYBER LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

10.


Related party transactions

Mindhouse Cyber Ltd has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclosure transactions with other wholly owned subsidiaries.

 
Page 6