| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| MINDLAB INTERNATIONAL LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| MINDLAB INTERNATIONAL LIMITED |
| MINDLAB INTERNATIONAL LIMITED (REGISTERED NUMBER: 01252287) |
| Contents of the Financial Statements |
| for the year ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MINDLAB INTERNATIONAL LIMITED |
| Company Information |
| for the year ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Preston Park House |
| South Road |
| Brighton |
| East Sussex |
| BN1 6SB |
| MINDLAB INTERNATIONAL LIMITED (REGISTERED NUMBER: 01252287) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| MINDLAB INTERNATIONAL LIMITED (REGISTERED NUMBER: 01252287) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MINDLAB INTERNATIONAL LIMITED (REGISTERED NUMBER: 01252287) |
| Notes to the Financial Statements |
| for the year ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Mind Lab International 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. |
| The presentational currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue, from the sale of specialised videos, publications and research, is recognised at the point of sale. |
| Intangible fixed assets |
| Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Web development costs - 33% on cost |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life. |
| Plant and machinery - 10% on reducing balance |
| Fixtures and fittings - 10% on reducing balance |
| Computer equipment - 33% on cost |
| Financial instruments |
| Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| MINDLAB INTERNATIONAL LIMITED (REGISTERED NUMBER: 01252287) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
| Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a pension plan under which the company pays contributions into a separate entity. Once the contributions have been paid, the company has no further obligations. |
| The contributions are recognised as an expense in the income statement when they fall due. Amounts owed but not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. |
| Impairment |
| At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
| Going concern |
| The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| MINDLAB INTERNATIONAL LIMITED (REGISTERED NUMBER: 01252287) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Web |
| development |
| £ |
| COST |
| At 1 April 2024 |
| Disposals | ( |
) |
| At 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| Elimin on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| Machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| MINDLAB INTERNATIONAL LIMITED (REGISTERED NUMBER: 01252287) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2025 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary A | 1p | 40 | 40 |
| 3,000 | Ordinary B | 1p | 30 | 30 |
| 3,000 | Ordinary C | 1p | 30 | 30 |
| 100 | 100 |
| 10. | SHARE-BASED PAYMENT TRANSACTIONS |
| The Mindlab EMI Share Option Plan was introduced on 22 May 2019. The scheme provides additional remuneration for one employee considered key to the company. At this date, the employee had been granted options over 526 D Ordinary Shares of £0.01 each. |
| The options were granted with an exercise price of £33.29 per option share. They are exercisable if the agreed exit conditions are met. Employees are not entitled to dividends on these shares until the options are exercised. Vesting of the options is subject to continued employment with the company. |
| There is no charge to the profit and loss account in the year as the conditions that must be met for the options to be exercised are not expected to be fulfilled in the foreseeable future. A full fair value valuation using the Black-Scholes pricing method is not considered justifiable and therefore no adjustment has be made to the financial statements to reflect these share options. |