Registered Number
:
06654858
|
For the year ended 31 July 2019
England and Wales
Unaudited Financial Statements
For the year ended 31 July 2019
Greater Minds Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Greater Minds Limited
Statement of Financial Position
2018
2019
Property
,
plant and equipment
|
16,250
19,858
2
16,250
19,858
187
187
3
Trade and other receivables
|
14,444
2,194
4
22,407
22,407
5
148,997
Cash and cash equivalents
|
46,101
70,889
186,035
Trade and other payables
:
amounts falling due within one
|
year
|
(78,620)
(68,002)
6
107,415
2,887
Net current assets
Total assets less current liabilities
|
19,137
127,273
19,137
Net assets
127,273
2
2
19,135
127,271
19,137
127,273
Shareholders' funds
For the year ended 31 July 2019 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 of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
|
b
)
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
|
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
|
394
and
395
and which otherwise comply with the requirements of the Companies Act
2006
relating to financial
|
statements
,
so far as applicable to the company
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
Mr Andrew Shorten Director
|
These financial statements were approved and authorised for issue by the Board on 30 September 2019 and were signed by:
|
The notes form part of these financial statements
|
1 of 4
For the year ended 31 July 2019
Greater Minds Limited
Notes to the Financial Statements
Statutory Information
Greater Minds Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration
|
number
06654858
.
|
259A London Road
Hadleigh
Essex
SS7 2BN
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Computer equipment
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
For the year ended 31 July 2019
Greater Minds Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
55,947
45,556
10,391
839
839
-
10,391
46,395
56,786
Provision for depreciation and impairment
|
36,089
29,682
6,407
Charge for year
4,447
3,451
996
40,536
33,133
7,403
2,988
13,262
16,250
3,984
15,874
19,858
2018
2019
187
187
4
.
Trade and other receivables
|
2018
2019
44
6,654
2,150
7,790
14,444
2,194
5
.
Financial instruments at fair value
|
2018
2019
22,407
22,407
3 of 4
For the year ended 31 July 2019
Greater Minds Limited
Notes to the Financial Statements Continued
6
.
Trade and other payables
:
amounts falling due within one year
|
2018
2019
1,953
1
Taxation and social security
|
25,092
45,625
40,957
32,994
68,002
78,620
4 of 4