Biz Minds (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09248361 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

BIZ MINDS (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Bamford

R C Ellis

REGISTERED OFFICE:

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

REGISTERED NUMBER:

09248361 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

CURRENT ASSETS

Stocks

-

10,100

Debtors

4

99,929

9,733

Cash at bank

3,379

5,449

103,308

25,282

CREDITORS

Amounts falling due within one year

5

17,022

647

NET CURRENT ASSETS

86,286

24,635

TOTAL ASSETS LESS CURRENT LIABILITIES

86,286

24,635

CAPITAL AND RESERVES

Called up share capital

6

100

100

Share premium

24,975

24,975

Retained earnings

61,211

(440

)

SHAREHOLDERS' FUNDS

86,286

24,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 October 2019 and were signed on its behalf by:

R C Ellis - Director

1.	STATUTORY INFORMATION

Biz Minds (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents sales of software development services, excluding Value Added Tax.

Turnover is recognised in the period that services are provided.

Stocks

Stocks and Work in Progress are stated at the lower of cost and net realisable value after making due allowance

for obsolete items. Cost includes all direct expenditure and an appropriate proportion of attributable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

39,472

9,733

Other debtors

60,457

-

99,929

9,733

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Taxation and social security

14,523

-

Other creditors

2,499

647

17,022

647

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.18

31.10.17

value:

£

£

75

A Ordinary

£1.00

75

75

25

B Ordinary

£1.00

25

25

100

100

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2018 and

31 October 2017:

31.10.18

31.10.17

£

£

Director

Balance outstanding at start of year

(647

)

(501

)

Amounts advanced

49,435

-

Amounts repaid

(13,079

)

(146

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,709

(647

)

Interest is charged at 2.5% per annum.