Mindset Training Plymouth Ltd Accounts

MINDSET TRAINING PLYMOUTH LTD - Company Information






Mindset Training Plymouth Ltd

	Company No. 12171891
		Information for Filing with The Registrar
		31 August 2020

at	31 August 2020
Company No.		12171891	Notes	2020
				£
Fixed assets

	Tangible assets		4	-



Current assets

	Debtors		5	14

	Cash at bank and in hand			1,223
				1,237
Creditors: Amount falling due within one year			6	(4,059)
Net current liabilities				(2,822)
Total assets less current liabilities				(2,822)




Net liabilities				(2,822)

Capital and reserves
	Called up share capital			1



	Profit and loss account		7	(2,823)

Total equity				(2,822)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the period ended 31 August 2020 the company was entitled to exemption from audit 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.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 23 October 2020
And signed on its behalf by:
A. Stokes
Director
23 October 2020

for the period ended 31 August 2020

General information

Its registered number is: 12171891

Its registered office is:

LGF 4 The Crescent

Plymouth

PL1 3AB

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. The March 2018 edition of FRS 102 includes amendments arising from the Financial Reporting Council's triennial review of the standard. There is no material effect on the amounts recognised in these financial statements as a result of early adopting these amendments.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

15% Reducing balance

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2020
			Number
		The average number of persons employed during the period :	1

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation

		Additions	207	207


		Disposals	(207)	(207)
		At 31 August 2020	-	-
		Depreciation






		Net book values
		At 31 August 2020	-	-

5	Debtors
			2020
			£






		Other debtors	14

			14

6	Creditors:
		amounts falling due within one year
			2020
			£







		Other taxes and social security	561
		Loans from directors	70
		Other creditors	1,371
		Accruals and deferred income	2,057
			4,059

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

2020

Transactions with related parties

Name of related party

A. Stokes

Description of relationship between the parties

Director

Description of transaction and general amounts involved

Directors Loan account

Amount due from/(to) the related party

(70)

Provision for doubtful debts due from the related party

Amounts written off in the period in respect of debts from/(to) the related party