Abbreviated Company Accounts - THE MIND LABS LIMITED

THE MIND LABS LIMITED - Company Information

Registered Number 05203483

THE MIND LABS LIMITED

Abbreviated Accounts

31 July 2014

THE MIND LABS LIMITED Registered Number 05203483

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	-	17
Tangible assets	3	5,806	6,513
		5,806	6,530
Current assets
Stocks		3,220	5,250
Debtors		12,040	7,916
Cash at bank and in hand		2,175	977
		17,435	14,143
Creditors: amounts falling due within one year		(22,312)	(21,412)
Net current assets (liabilities)		(4,877)	(7,269)
Total assets less current liabilities		929	(739)
Provisions for liabilities		(981)	(1,083)
Total net assets (liabilities)		(52)	(1,822)
Capital and reserves
Called up share capital		30	30
Profit and loss account		(82)	(1,852)
Shareholders' funds		(52)	(1,822)

For the year ending 31 July 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 April 2015

And signed on their behalf by:
Mr C Hughes, Director

THE MIND LABS LIMITED Registered Number 05203483

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:-

Plant & Machinery - 25% Reducing Balance
Fixtures, Fittings & Equipment - 25% Reducing Balance
Motor Vehicles - 15% Reducing Balance
Computer Equipment - 33% Straight Line

2Intangible fixed assets

	£
Cost
At 1 August 2013	1,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	1,000
Amortisation
At 1 August 2013	983
Charge for the year	17
On disposals	-
At 31 July 2014	1,000
Net book values
At 31 July 2014	0
At 31 July 2013	17

3Tangible fixed assets

	£
Cost
At 1 August 2013	20,748
Additions	1,000
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2014	21,748
Depreciation
At 1 August 2013	14,235
Charge for the year	1,707
On disposals	-
At 31 July 2014	15,942
Net book values
At 31 July 2014	5,806
At 31 July 2013	6,513