Registration number: 10825372

Mindset Recruitment Ltd

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 7

Mindset Recruitment Ltd

Company Information

Director

Mr Arnold Chiy

Registered office

45 Wighay Road Linby Nottingham NG15 8JL

Accountants

McManus Hall Ltd C11 Marquis Court Team Valley Gateshead Tyne and Wear NE11 0RU

Mindset Recruitment Ltd

(Registration number: 10825372)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	31,351	15,607
Current assets
Debtors		212,896	226,085
Cash at bank and in hand		7,042	77,094
		219,938	303,179
Prepayments and accrued income		47,596	-
Creditors: Amounts falling due within one year		(263,699)	(273,339)
Net current assets		3,835	29,840
Total assets less current liabilities		35,186	45,447
Creditors: Amounts falling due after more than one year		(71,706)	(40,801)
Net (liabilities)/assets		(36,520)	4,646
Capital and reserves
Called up share capital		2	2
Retained earnings		(36,522)	4,644
Shareholders' (deficit)/funds		(36,520)	4,646

For the financial period ending 31 December 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 members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Mindset Recruitment Ltd

(Registration number: 10825372)
Abridged Balance Sheet as at 31 December 2024

Approved and authorised by the director on 30 September 2025
 

.........................................

Mr Arnold Chiy

Director

Mindset Recruitment Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2023 to 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
45 Wighay Road
Linby
Nottingham
NG15 8JL

These financial statements were authorised for issue by the director on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts are prepared on a going concern basis as the Directors have reviewed post year end management accounts and information and confirm that the Company had substantially reduced the deficit position by August 2025. The Directors have implemented price increases and improved internal controls.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Mindset Recruitment Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2023 to 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Mindset Recruitment Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2023 to 31 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 62 (2023 - 45).

Mindset Recruitment Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2023 to 31 December 2024

4	Tangible assets

	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 July 2023	18,190	2,705	20,895
Additions	31,406	-	31,406
Disposals	(13,690)	-	(13,690)
At 31 December 2024	35,906	2,705	38,611
Depreciation
At 1 July 2023	5,288	-	5,288
Charge for the period	9,032	676	9,708
Eliminated on disposal	(7,736)	-	(7,736)
At 31 December 2024	6,584	676	7,260
Carrying amount
At 31 December 2024	29,322	2,029	31,351
At 30 June 2023	12,902	2,705	15,607