MINDSTRETCHERS LTD. Accounts filed on 31-07-2014
MINDSTRETCHERS LTD. Accounts filed on 31-07-2014
MINDSTRETCHERS LTD.
Company Registration Number:
SC183027 (Scotland)
Abbreviated (Unaudited) Accounts
Period of accounts
Start date: 01st August 2013
End date: 31st July 2014
SUBMITTED
MINDSTRETCHERS LTD.
Company Information
for the Period Ended
31st July 2014
Director: |
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Company secretary: |
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Registered office: |
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Perthshire | ||
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Company Registration Number: |
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MINDSTRETCHERS LTD.
Abbreviated Balance sheet
As at 31st July 2014
Notes | 2014 £ |
2013 £ |
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Fixed assets | |||
Tangible assets: | 2 |
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Total fixed assets: |
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Current assets | |||
Stocks: |
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Debtors: |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors | |||
Creditors: amounts falling due within one year |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: |
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Total net assets (liabilities): | ( |
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The notes form part of these financial statements
MINDSTRETCHERS LTD.
Abbreviated Balance sheet
As at 31st July 2014
continued
Notes | 2014 £ |
2013 £ |
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Capital and reserves | |||
Called up share capital: | 3 |
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Profit and Loss account: | ( |
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Total shareholders funds: | ( |
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The financial statements were approved by the Board of Directors on
SIGNED ON BEHALF OF THE BOARD BY:
Name: Claire Helen Warden
Status: Director
The notes form part of these financial statements
MINDSTRETCHERS LTD.
Notes to the Abbreviated Accounts
for the Period Ended
31st July 2014
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1. Accounting policies
Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008) Turnover policy
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. Tangible fixed assets depreciation policy
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Plant and Machinery - 15% on cost, Fixtures and fittings - 10% on cost, Motor vehicles - 25% on cost. Intangible fixed assets amortisation policy
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. Valuation information and policy
Stocks and work -in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads. Other accounting policies
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred. Foreign Currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the reate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. Pensions. The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rfules of the scheme.
MINDSTRETCHERS LTD.
Notes to the Abbreviated Accounts
for the Period Ended
31st July 2014
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2. Tangible assets
Total Cost £ At 01st August 2013: 24,822 At 31st July 2014: 24,822 Depreciation At 01st August 2013: 20,243 Charge for year: 1,000 At 31st July 2014: 21,243 Net book value At 31st July 2014: 3,579 At 31st July 2013: 4,579
MINDSTRETCHERS LTD.
Notes to the Abbreviated Accounts
for the Period Ended
31st July 2014
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5. Related party disclosures
Name of the ultimate controlling party during the period: Mindstretchers Ltd Name of related party: Claire Warden Limited Relationship: Controlled by the same Director Description of the transaction: Expenses paid on behalf of Claire Warden Limited Balance at 01st August 2013 12,986 Balance at 31st July 2014 29,008 Name of related party: Living Classrooms Limited Relationship: Controlled by the same Director Description of the transaction: Expenses paid on behalf of Mindstretchers Ltd Balance at 01st August 2013 14,498 Balance at 31st July 2014 463