ACTIVE MIND FRAME LTD - Limited company accounts 23.2

REGISTERED NUMBER: 11923635 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 April 2023

for

ACTIVE MIND FRAME LTD

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Mrs. N Samii

SECRETARY:

REGISTERED OFFICE:

4 Quex Road

London

NW6 4PJ

REGISTERED NUMBER:

11923635 (England and Wales)

ACCOUNTANTS:

Purcells

Chartered Accountants

4 Quex Road

London

NW6 4PJ

The director presents her report with the financial statements of the company for the year ended 30 April 2023.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of child day care activities.

DIRECTOR

Mrs. N Samii held office during the whole of the period from 1 May 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs. N Samii - Director

2 October 2023

TURNOVER

14,979

2,797

Cost of sales

1,071

1,022

GROSS PROFIT

13,908

1,775

Administrative expenses

38,411

44,623

OPERATING LOSS

4

(24,503

)

(42,848

)

Interest payable and similar expenses

1,034

99

LOSS BEFORE TAXATION

(25,537

)

(42,947

)

Tax on loss

-

-

LOSS FOR THE FINANCIAL YEAR

(25,537

)

(42,947

)

FIXED ASSETS

Intangible assets

5

220

220

Tangible assets

6

1,262

1,193

1,482

1,413

CURRENT ASSETS

Stocks

2,500

920

Debtors

7

16,500

13,260

Cash at bank

46,222

86,555

65,222

100,735

CREDITORS

Amounts falling due within one year

8

1,159

1,412

NET CURRENT ASSETS

64,063

99,323

TOTAL ASSETS LESS CURRENT LIABILITIES

65,545

100,736

CREDITORS

Amounts falling due after more than one year

9

237,041

246,695

NET LIABILITIES

(171,496

)

(145,959

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

(171,596

)

(146,059

)

SHAREHOLDERS' FUNDS

(171,496

)

(145,959

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:

Mrs. N Samii - Director

1.	STATUTORY INFORMATION

ACTIVE MIND FRAME LTD 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company has contract to provide goods and services to outlets with regular projected sales.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

30.4.23

30.4.22

£

£

Depreciation - owned assets

315

298

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2022

and 30 April 2023

220

NET BOOK VALUE

At 30 April 2023

220

At 30 April 2022

220

6.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 May 2022

1,491

Additions

384

At 30 April 2023

1,875

DEPRECIATION

At 1 May 2022

298

Charge for year

315

At 30 April 2023

613

NET BOOK VALUE

At 30 April 2023

1,262

At 30 April 2022

1,193

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

1,600

200

Current asset investment

14,900

7,900

Prepayments

-

5,160

16,500

13,260

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Other creditors

272

312

Director's loan account

312

-

Accrued expenses

575

1,100

1,159

1,412

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans - 2-5 years

37,041

46,695

Unsecured loan

200,000

200,000

237,041

246,695

Director's unsecured loan balance to the company at 30th April 2021 increased to £200,000.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.23

30.4.22

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 May 2022

(146,059

)

Deficit for the year

(25,537

)

At 30 April 2023

(171,596

)