Minotro Limited Filleted accounts for Companies House (small and micro)
Minotro Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
10361843
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FINANCIAL STATEMENTS |
Year ended 30 September 2020
CONTENTS |
PAGE |
Balance sheet |
1 |
Notes to the financial statements |
3 |
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BALANCE SHEET |
2020 |
2019 |
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Note |
£ |
£ |
FIXED ASSETS
Intangible assets |
4 |
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– |
Tangible assets |
5 |
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CURRENT ASSETS
Debtors |
6 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
7 |
(
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(
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-------- |
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NET CURRENT ASSETS |
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-------- |
-------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: amounts falling due after more than one year |
8 |
(
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– |
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NET ASSETS |
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CAPITAL AND RESERVES
Called up share capital |
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Share premium account |
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Profit and loss account |
(
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(
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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BALANCE SHEET (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
29 September 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
10361843
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NOTES TO THE FINANCIAL STATEMENTS |
Year ended 30 September 2020
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cedar House, Hazell Drive, Newport, NP10 8FY. The address of its principal place of business is Abacus house, Caxton Pl, Pontprennau, Cardiff, CF23 8HA.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Turnover
Taxation
Foreign currencies
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Research and development
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings |
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Equipment |
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25% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
4.
INTANGIBLE ASSETS
Development costs |
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£ |
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Cost |
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Additions |
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At 30 September 2020 |
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Amortisation |
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At 1 October 2019 and 30 September 2020 |
– |
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Carrying amount |
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At 30 September 2020 |
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-------- |
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At 30 September 2019 |
– |
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5.
TANGIBLE ASSETS
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 October 2019 |
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4,716 |
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Additions |
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1,098 |
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At 30 September 2020 |
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5,814 |
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Depreciation |
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At 1 October 2019 |
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1,028 |
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Charge for the year |
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1,337 |
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At 30 September 2020 |
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2,365 |
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Carrying amount |
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At 30 September 2020 |
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3,449 |
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At 30 September 2019 |
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3,688 |
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6.
DEBTORS
2020 |
2019 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
CREDITORS:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
Other creditors |
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------- |
------- |
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8.
CREDITORS:
amounts falling due after more than one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
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Included within creditors: amounts falling due after more than one year is an amount of £6,986 (2019: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding |
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2020 |
2019 |
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£ |
£ |
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The loans are interest free and repayable on demand.