Company No: 09345557 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	45,976		61,834
		45,976		61,834
Current assets
Stocks		223,821		29,683
Debtors	5	1,882,085		800,519
Cash at bank and in hand		2,141,371		1,703,713
		4,247,277		2,533,915
Creditors: amounts falling due within one year	6	( 4,278,123)		( 3,014,100)
Net current liabilities		(30,846)		(480,185)
Total assets less current liabilities		15,130		(418,351)
Creditors: amounts falling due after more than one year	7	0		( 12,482)
Provision for liabilities		( 5,571)		( 1,718)
Net assets/(liabilities)		9,559		( 432,551)
Capital and reserves
Called-up share capital		102		102
Profit and loss account		9,457		( 432,653 )
Total shareholders' funds/(deficit)		9,559		( 432,551)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of My Happy Mind Limited (registered number: 09345557) were approved and authorised for issue by the Board of Directors on 14 October 2025. They were signed on its behalf by:

T Earnshaw Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

My Happy Mind Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bridgford House, Heyes Lane, Alderley Edge, SK9 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

In the year to 31 March 2025, the directors have identified that prior year financial statements did not reflect the revenue recognition policy adopted in the financial year to 31 March 2022. They consider that some of this income relates to later periods and should therefore be classified as deferred income until the conditions outlined in the revenue recognition policy are met. The directors have also identified direct software costs which should have been included in prepayments until economic benefit has flowed to the company. Further information on the prior year adjustments is included at note 2.

Turnover

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:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
* the Company has transferred the significant risks and rewards of ownership to the buyer;
* the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the transaction; and
* the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	3 years straight line
Fixtures and fittings	20 % reducing balance
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial 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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Prior year adjustment

In the year to 31 March 2025, the directors have identified that prior year financial statements did not reflect the revenue recognition policy adopted in the financial year to 31 March 2022. They consider that some of this income relates to later periods and should therefore be classified as deferred income until the conditions outlined in the revenue recognition policy are met. The directors have also identified direct software costs which should have been included in prepayments until economic benefit has flowed to the company.

The 2024 comparative figures and opening balances have therefore been restated to reflect this adjustment in turnover, cost of sales, prepayments, deferred income, corporation tax charge and corporation tax creditor.

The impact on opening reserves for 31 March 2024 is a decrease of £1,071,270. The net impact on the profit and loss for the year ended 31 March 2024 is a decrease in post tax profits of £895,287. The impact on closing reserves for 31 March 2024 is a decrease of £1,966,557.

		As previously reported		Adjustment		As restated
Year ended 31 March 2024		£		£		£
Opening retained (earnings) / deficit		(669,198)		1,071,270		402,072
Deferred income		0		(2,540,719)		(2,540,719)
Sales		(2,882,777)		1,262,580		(1,620,197)
Prepayments		22,205		1,937		24,142
Direct software costs		22,710		(1,937)		20,773
Taxation charge		373,856		(365,356)		8,500
Corporation tax debtor / (creditor)		(374,400)		572,225		197,825

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	21		14

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	29,332		21,253		18,074		45,922		114,581
Additions	0		1,390		0		11,034		12,424
At 31 March 2025	29,332		22,643		18,074		56,956		127,005
Accumulated depreciation
At 01 April 2024	5,866		10,836		5,904		30,141		52,747
Charge for the financial year	5,041		10,291		2,434		10,516		28,282
At 31 March 2025	10,907		21,127		8,338		40,657		81,029
Net book value
At 31 March 2025	18,425		1,516		9,736		16,299		45,976
At 31 March 2024	23,466		10,417		12,170		15,781		61,834

5. Debtors

	2025		2024
	£		£
Trade debtors	1,330,634		578,552
Amounts owed by directors	204,054		0
Prepayments	62,161		24,142
Corporation tax	285,236		197,825
	1,882,085		800,519

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		10,000
Amounts owed to directors	0		1,456
Accruals and deferred income	3,838,351		2,659,332
Other taxation and social security	409,537		308,513
Other creditors	30,235		34,799
	4,278,123		3,014,100

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		12,482

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	90,661		62,999
between one and five years	145,681		203,979
Total future minimum lease payments under non-cancellable operating leases	236,342		266,978

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	5,268		0

9. Related party transactions

Transactions with the entity's directors

Loans totalling £202,661 (2024: £Nil) were advanced to the directors during the year. The loans were unsecured and repayable on demand. Interest of £1,394 (2024: £Nil) has been charged on the loan. The balance outstanding at the year end was £204,055 (2024: £Nil).