Mindstretchers LTD Accounts

MINDSTRETCHERS LTD. - Company Information






Mindstretchers LTD
	Company No. SC183027
		Abbreviated Accounts
		31 July 2015

at	31 July 2015

Company No.		SC183027	Notes	2015	2014
				£	£
Fixed assets

	Tangible assets		2	1,575	3,580

				1,575	3,580
Current assets
	Stocks			23,307	41,643
	Debtors			83,531	92,544

	Cash at bank and in hand			10,018	1,747
				116,856	135,934
Creditors: Amounts falling due within one year				(117,505)	(152,683)
Net current liabilities				(649)	(16,749)
Total assets less current liabilities				926	(13,169)




Net assets/(liabilities)				926	(13,169)

Capital and reserves
	Called up share capital		3	2	2



	Profit and loss account			924	(13,171)

Shareholder's funds				926	(13,169)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

For the year ended 31 July 2015 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 July 2015

And signed on its behalf by:

C. Warden
Director
31 July 2015

for the year ended 31 July 2015

Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) ["the FRSSE"].

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers.

Stocks

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.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are recorded in sterling using the exchange rate ruling at the date of the transaction.
Exchange differences are are taken into account in arriving at the operating profit.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. Assets held under finance leases, or hire purchase contracts, are recorded in the balance sheet as tangible fixed assets and depreciated over their estimated useful lives or the term of the finance lease or hire purchase contract, whichever is shorter. Future instalments under such finance leases or hire purchase contracts, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments.

All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease.

Pension costs

Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

2	Fixed assets
		Tangible fixed assets	Total
		£	£
	Cost or revaluation
	At 1 August 2014	24,822	24,822




	At 31 July 2015	24,822	24,822
	Amortisation
	At 1 August 2014	21,242	21,242
	Charge for the year	2,005	2,005



	At 31 July 2015	23,247	23,247
	Net book values
	At 31 July 2015	1,575	1,575
	At 31 July 2014	3,580	3,580

3	Share Capital
		Nominal value	2015	2015	2014
		£	Number	£	£
	Allotted, called up and fully paid:
	Ordinary shares	1.00	2	2	2




				2	2