Company Registration No. 09145784 (England and Wales)
MINTERTAINMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
PAGES FOR FILING WITH REGISTRAR
MINTERTAINMENT LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
MINTERTAINMENT LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MINTERTAINMENT LIMITED FOR THE YEAR ENDED 31 JULY 2020
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mintertainment Limited for the year ended 31 July 2020 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Mintertainment Limited, as a body, in accordance with the terms of our engagement
.
Our work has been undertaken solely to prepare for your approval the financial statements of Mintertainment Limited
and state those matters that we have agreed to state to the Board of Directors of Mintertainment Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mintertainment Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Mintertainment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit
of Mintertainment Limited. You consider that Mintertainment Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mintertainment Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MHA Carpenter Box
28 April 2021
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
MINTERTAINMENT LIMITED
BALANCE SHEET
AS AT
31 JULY 2020
31 July 2020
- 2 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,794
7,776
Investments
4
10
10
15,804
7,786
Current assets
Debtors
5
208,097
127,204
Cash at bank and in hand
1,479,976
1,201,420
1,688,073
1,328,624
Creditors: amounts falling due within one year
6
(1,088,291)
(888,800)
Net current assets
599,782
439,824
Total assets less current liabilities
615,586
447,610
Provisions for liabilities
(3,000)
(1,500)
Net assets
612,586
446,110
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
612,585
446,109
Total equity
612,586
446,110
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MINTERTAINMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2020
31 July 2020
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 28 April 2021
Mr S Minter
Director
Company Registration No. 09145784
MINTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020
- 4 -
1
Accounting policies
Company information
Mintertainment Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis. The director has considered
relevant information, including the reserves available and the impact of subsequent
events in making their
assessment. The COVID-19 pandemic and the ensuing economic
shutdown has had minimal impact on
the company’s operations as the restrictions imposed do
not directly impact the sector in which the
company trades.
Based on this assessment, at the time of approving the financial statements, the director has a
reasonable
expectation that the company has adequate resources and support from fellow
group members to continue
in operational existence for the foreseeable future. Thus the
director continues to adopt the going concern
basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% per annum on a straight line basis
Computer equipment
25% per annum on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
MINTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2020
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost
.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
MINTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2020
1
Accounting policies
(Continued)
- 6 -
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2019 - 1
).
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 August 2019
426
22,429
22,855
Additions
563
14,769
15,332
At 31 July 2020
989
37,198
38,187
Depreciation and impairment
At 1 August 2019
107
14,972
15,079
Depreciation charged in the year
165
7,149
7,314
At 31 July 2020
272
22,121
22,393
Carrying amount
At 31 July 2020
717
15,077
15,794
At 31 July 2019
319
7,457
7,776
4
Fixed asset investments
2020
2019
£
£
Other investments other than loans
10
10
MINTERTAINMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2020
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 August 2019 & 31 July 2020
10
Carrying amount
At 31 July 2020
10
At 31 July 2019
10
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
173,938
99,154
Other debtors
34,159
28,050
208,097
127,204
6
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
38,930
Trade creditors
17,420
2,400
Amounts due to group undertakings
991,387
669,124
Taxation and social security
78,948
169,995
Other creditors
536
8,351
1,088,291
888,800
7
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
8
Parent company
The ultimate controlling party
is Mintertainment
Holdings Limited whose registered office is Amelia House, Crescent
Road, Worthing, West Sussex, BN11 1QR.