Company Registration No. SC444976 (Scotland)
Psychological Minds Ltd
Unaudited accounts
for the year ended 31 March 2025
Psychological Minds Ltd
Unaudited accounts
Contents
Psychological Minds Ltd
Company Information
for the year ended 31 March 2025
Directors
Chris Burke
Sarah burke
Company Number
SC444976 (Scotland)
Registered Office
KILSPINDIE HOUSE 38 MARKET STREET
MARKET STREET
HADDINGTON
EAST LOTHIAN
EH41 3JE
SCOTLAND
Accountants
Green Shoots Accountancy Services Ltd
Kilspindie House
38 Market Street
Haddington
East Lothian
EH41 3JE
Psychological Minds Ltd
Statement of financial position
as at 31 March 2025
Tangible assets
26,880
4,187
Cash at bank and in hand
65,616
5,478
Creditors: amounts falling due within one year
(28,614)
(27,445)
Net current assets
77,857
44,719
Total assets less current liabilities
104,737
48,906
Creditors: amounts falling due after more than one year
(27,457)
-
Called up share capital
100
100
Profit and loss account
77,180
48,806
Shareholders' funds
77,280
48,906
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by
Chris Burke
Director
Company Registration No. SC444976
Psychological Minds Ltd
Notes to the Accounts
for the year ended 31 March 2025
Psychological Minds Ltd is a private company, limited by shares, registered in Scotland, registration number SC444976. The registered office is KILSPINDIE HOUSE 38 MARKET STREET, MARKET STREET, HADDINGTON, EAST LOTHIAN, EH41 3JE, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line basis at 25% each year
Fixtures & fittings
Reducing balance at 15% each year
Computer equipment
Straight line basis at 25% each year
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 accounts. 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 company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Psychological Minds Ltd
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
4,233
-
2,265
11,427
17,925
Additions
1,746
29,100
-
2,723
33,569
At 31 March 2025
5,979
29,100
2,265
14,150
51,494
At 1 April 2024
3,340
-
752
9,646
13,738
Charge for the year
1,332
7,275
527
1,742
10,876
At 31 March 2025
4,672
7,275
1,279
11,388
24,614
At 31 March 2025
1,307
21,825
986
2,762
26,880
At 31 March 2024
893
-
1,513
1,781
4,187
Amounts falling due within one year
Trade debtors
32,128
36,735
Accrued income and prepayments
497
497
Other debtors
8,230
29,454
6
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
13,760
17,886
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
27,457
-
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director Loan
23,922
-
-
23,922
Director Loan
7,722
-
-
7,722
Psychological Minds Ltd
Notes to the Accounts
for the year ended 31 March 2025
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).