Spicy Minds Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 14719260

		31 March 2025		31 March 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		259,374		63,710
Tangible Assets	5		1,832		213

			261,206		63,923
CURRENT ASSETS
Debtors	6	7,360		6,937
Cash at bank and in hand		268,431		114,859

		275,791		121,796
Creditors: Amounts Falling Due Within One Year	7	(21,254 )		(6,302 )

NET CURRENT ASSETS (LIABILITIES)			254,537		115,494

TOTAL ASSETS LESS CURRENT LIABILITIES			515,743		179,417

PROVISIONS FOR LIABILITIES
Deferred Taxation			(348 )		-

NET ASSETS			515,395		179,417

CAPITAL AND RESERVES
Called up share capital	8		2		1
Share premium account			649,999		200,000
Profit and Loss Account			(134,606 )		(20,584 )

SHAREHOLDERS' FUNDS			515,395		179,417

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Spicy Minds Ltd

Balance Sheet (continued)

As At 31 March 2025

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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

B Cosh

Director

23/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Spicy Minds Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14719260 . The registered office is 17-18 Berkeley Square, Bristol, BS8 1HB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured.

The capitalised development costs are amortised at 20% on a straight line basis over their expected useful economic life of 5 years, commencing amortisation when the project is available for income generation.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

33% straight line

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Spicy Minds Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: NIL)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 April 2024	63,710
Additions	195,664

As at 31 March 2025	259,374

Net Book Value
As at 31 March 2025	259,374

As at 1 April 2024	63,710

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2024	318
Additions	1,891

As at 31 March 2025	2,209

Depreciation
As at 1 April 2024	105
Provided during the period	272

As at 31 March 2025	377

Net Book Value
As at 31 March 2025	1,832

As at 1 April 2024	213

6. Debtors

	31 March 2025	31 March 2024
	£	£
Due within one year
Other debtors	7,360	6,937

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Spicy Minds Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Creditors: Amounts Falling Due Within One Year

	31 March 2025	31 March 2024
	£	£
Trade creditors	1	-
Other loans	-	5,602
Other creditors	19,788	700
Taxation and social security	1,465	-

	21,254	6,302

8. Share Capital

	31 March 2025	31 March 2024
	£	£
Called Up Share Capital not Paid	1	1
Called Up Share Capital has been paid up	1	-

Amount of Allotted, Called Up Share Capital	2	1

9. Related Party Transactions

Other creditors contains an amount of £9,552 directors loan in favour of B Cosh. The loan is unsecured, interest free and repayable on demand.

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