Deepminds Limited - Filleted accounts

Registered number

09345615

Deepminds Limited

Unaudited Filleted Accounts

31 December 2024

Deepminds Limited
Registered number:		09345615
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		14,807			984

Current assets
Debtors	4	41,805			667
Cash at bank and in hand		75,223			36,748
		117,028			37,415

Creditors: amounts falling due within one year	5	(51,218)			(11,273)

Net current assets			65,810			26,142

Total assets less current liabilities			80,617			27,126


Provisions for liabilities			(291)			(187)


Net assets			80,326			26,939

Capital and reserves
Called up share capital			100			100
Profit and loss account			80,226			26,839

Shareholders' funds			80,326			26,939

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.




Claire Gurney
Director
Approved by the board on 29 August 2025

Deepminds Limited
Notes to the Accounts
for the year ended 31 December 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:

	Motor Vehicles	25% Reducing Balance
	Comnputer Equipment	over 4 years
	Office Equipment	over 4 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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			2		1


3	Tangible fixed assets
		Plant and machinery etc		Computer Equipment		Total
£			£		£
	Cost
	At 1 January 2024	456		7,024		7,480
	Additions	-		18,990		18,990
	At 31 December 2024	456		26,014		26,470

	Depreciation
	At 1 January 2024	456		6,040		6,496
	Charge for the year	-		5,167		5,167
	At 31 December 2024	456		11,207		11,663

	Net book value
	At 31 December 2024	-		14,807		14,807
	At 31 December 2023	-		984		984


4	Debtors			2024		2023
£					£

	Trade debtors			41,404		-
	VAT Debtor			-		370
	Other debtors			401		297
				41,805		667


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Directors Account			4,133		4,702
	Taxation and social security costs			47,085		6,571
				51,218		11,273


6	Transactions with Directors

	During the year both directors used a current account with the company to record amounts due to them and amounts drawn by them. The accounts shows an amount owing back to Claire Gurney as a director as at 31st December 2024 of £2,520 (2023:£3,205.34) and the account shows an amount owing back to Robert Stemp as a director as at 31st December 2024 of £1,612.84 (2023: £1,496.23). The amounts are repayable on demand and carry interest.


7	Related party transactions

	None noted


8	Controlling party

	Claire Gurney and Robert Stemp both holds 50% of the share capital of the company therefore togther they are the company's ultimate controlling parties


9	Other information

	Deepminds Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Old Bank
	Beaufort Street
	Crickhowell
	Powys
	NP8 1AD