Registered number
09177706
MASTERINNOMINDS LIMITED
Filleted Accounts
31 August 2024
MASTERINNOMINDS LIMITED
Registered number: 09177706
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,708 13,436
Current assets
Debtors 4 64,500 64,500
Cash at bank and in hand 138,543 328,325
203,043 392,825
Creditors: amounts falling due within one year 5 (41,847) (131,397)
Net current assets 161,196 261,428
Total assets less current liabilities 172,904 274,864
Creditors: amounts falling due after more than one year 6 (10,249) (15,081)
Net assets 162,655 259,783
Capital and reserves
Called up share capital 100 100
Profit and loss account 162,555 259,683
Shareholders' funds 162,655 259,783
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Harikishan Lanka
Director
Approved by the board on 30 August 2025
MASTERINNOMINDS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 26,954
Additions 1,199
At 31 August 2024 28,153
Depreciation
At 1 September 2023 13,518
Charge for the year 2,927
At 31 August 2024 16,445
Net book value
At 31 August 2024 11,708
At 31 August 2023 13,436
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 64,500 64,500
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 91 91
Taxation and social security costs 31,979 77,771
Other creditors 9,777 53,535
41,847 131,397
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,249 15,081
7 Other information
MASTERINNOMINDS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
23 Middlefield
Welwyn Garden City
Hertfordshire
AL7 4DQ
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