Registration number:
Orderly Mind Limited
for the Year Ended 30 April 2018
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG
Orderly Mind Limited
(Registration number: 05131737)
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Orderly Mind Limited
(Registration number: 05131737)
Company Information
Director |
Mr M A King |
Registered office |
|
Accountants |
|
Page 1 |
Orderly Mind Limited
(Registration number: 05131737)
Balance Sheet as at 30 April 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Orderly Mind Limited
(Registration number: 05131737)
Balance Sheet as at 30 April 2018
Approved and authorised by the
.........................................
Mr M A King
Director
Page 3 |
Orderly Mind Limited
(Registration number: 05131737)
Notes to the Financial Statements for the Year Ended 30 April 2018
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Page 4 |
Orderly Mind Limited
(Registration number: 05131737)
Notes to the Financial Statements for the Year Ended 30 April 2018
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Intangible assets
Separately acquired trademarks and patents are shown at historical cost.
Trademarks and patents have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Patents |
5 years straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 5 |
Orderly Mind Limited
(Registration number: 05131737)
Notes to the Financial Statements for the Year Ended 30 April 2018
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 6 |
Orderly Mind Limited
(Registration number: 05131737)
Notes to the Financial Statements for the Year Ended 30 April 2018
Intangible assets |
Patents |
Total |
|
Cost or valuation |
||
At 1 May 2017 |
|
|
Additions |
|
|
At 30 April 2018 |
|
|
Amortisation |
||
At 1 May 2017 |
|
|
Amortisation charge |
|
|
At 30 April 2018 |
|
|
Carrying amount |
||
At 30 April 2018 |
|
|
At 30 April 2017 |
|
|
Investments |
2018 |
2017 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 May 2017 |
|
Provision |
|
Carrying amount |
|
At 30 April 2018 |
|
At 30 April 2017 |
|
Page 7 |
Orderly Mind Limited
(Registration number: 05131737)
Notes to the Financial Statements for the Year Ended 30 April 2018
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2018 |
2017 |
|||
Subsidiary undertakings |
||||
|
3rd Floor
|
Ordinary |
|
|
England |
The principal activity of Orderly Telecoms Limited is |
Debtors |
2018 |
2017 |
|
Other debtors |
|
|
Total current trade and other debtors |
|
|
Creditors |
Note |
2018 |
2017 |
|
Due within one year |
|||
Amounts owed to group undertakings |
|
|
Page 8 |