Active Mind Solutions Ltd - Period Ending 2016-07-31

Registration number: 05355443

Active Mind Solutions Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

AIMS Accountants for Business
Mark Ellis FCA
1 Ramsay Court
Kingfisher Way
Huntingdon
Cambridgeshire
PE29 6FY

Active Mind Solutions Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Active Mind Solutions Ltd
(Registration number: 05355443)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,935			3,542
Current assets
Debtors					27,755			31,477
Cash at bank and in hand					34,951			16,611
					62,706			48,088
Creditors: Amounts falling due within one year					(54,187)			(53,156)
Net current assets/(liabilities)					8,519			(5,068)
Total assets less current liabilities					10,454			(1,526)
Provisions for liabilities					(201)			(482)
Net assets/(liabilities)					10,253			(2,008)
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					9,253			(3,008)
Shareholders' funds/(deficit)					10,253			(2,008)

For the year ending 31 July 2016 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 director acknowledges his 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 director on 7 April 2017

.........................................
Mr G Gray
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Active Mind Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	30% reducing balance basis
Computer software	25% reducing balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Active Mind Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		24,020			24,020
At 31 July 2016		24,020			24,020
Depreciation
At 1 August 2015		20,478			20,478
Charge for the year		1,607			1,607
At 31 July 2016		22,085			22,085
Net book value
At 31 July 2016		1,935			1,935
At 31 July 2015		3,542			3,542

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr G Gray
Balance brought forward	3,396	-	4,397	-
Monies advanced	6,611	-	9,000	-
Dividends paid	(12,000)	-	(10,000)	-
	(1,993)	-	3,397	-

Page 3