Exhibit 99.14

 

Unaudited Accounts

 

for the Period 1 January 2020 to 30 June 2020

 

for

 

Mastermind Principles Ltd

 

 

 

 

Independent Chartered Certified Accountants' Review Report to the Director of

Mastermind Principles Ltd

 

We have reviewed the financial statements of Mastermind Principles Ltd for the period ended 30 June 2021, which comprise the Income Statement, Balance Sheet. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

 

This report is made solely to the company's director in accordance with our terms of engagement. Our review has been undertaken so that we might state to the director those matters that we have agreed with him in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director for our work, for this report or the conclusions we have formed.

 

Director's responsibility for the financial statements

 

As explained more fully in the Director's Responsibilities Statement set out in the Audited Accounts for the year ended 31st December 2020, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

 

Accountants' responsibility

 

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE 2400 also requires us to comply with the ICAEW Code of Ethics.

 

Scope of the assurance review

 

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial statements.

 

Conclusion

 

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

 

-so as to give a true and fair view of the state of the company's affairs as at 30 June 2020 and of its profit for the period then ended;
-in accordance with United Kingdom Generally Accepted Accounting Practice; and
-in accordance with the requirements of the Companies Act 2006.

 

/s/ SKS Bailey Group

 

SKS Bailey Group Limited

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

 

Date:  21/1/22  

 

 

 

 

Mastermind Principles Ltd

 

Income Statement

for the Period 1 January 2020 to 30 June 2020

 

  

6 mths to

30 June 2020

£

 
Turnover    
Sales   1,482,516 
      
    1,482,516 
Cost of sales    
Opening stock   11,197 
Purchases   238,489 
Coaching and mentoring   133,225 
Commissions payable   97,575 
Advertising   15,460 
Closing stock   (11,197)
      
    484,749 
      
      
GROSS PROFIT   997,767 
      
      
Other income     
Rent received   6,000 
Sponsorship   1,667 
Bank interest receivable   5,257 
      
    12,924 
      
      
Expenditure     
Wages   242,627 
JRS grant   - 
Pensions   - 
Rent   25,525 
Insurance   10,932 
Directors' salaries   6,250 
Telephone   7,038 
Post and stationery   5,216 
Travelling   13,094 
Repairs and renewals   17,188 
Household and cleaning   - 
Staff recruitment costs   253 
Computer costs   36,905 
Sundry expenses   7,242 
Staff training   6,077 
Accountancy   2,100 
Subscriptions   - 
Professional fees   - 
Legal and professional fees   3,660 
Depreciation of tangible fixed assets      
Plant and machinery   - 
Hire of plant and machinery   3,941 
Entertainment   - 
Bad debts   - 
      
    388,048 

 

 

 

 

Mastermind Principles Ltd

 

Income Statement

for the Period 1 January 2020 to 30 June 2020

 

  

6 mths to

30 June 2020

£

 
Finance costs    
Bank charges   23,506 
Bank interest on loans   33,318 
      
    56, 824 
      
Total overheads     
less other income   431,948 
      
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION   565,819 
    
Taxation     
Corporation Tax   107,505 
      
    107,505 
PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION   458,314 
      
Dividends     
Interim   - 
Final   - 
      
    - 
      
PROFIT FOR THE PERIOD AFTER TAXATION AND DIVIDENDS   458,314 

 

 

 

 

Mastermind Principles Ltd (Registered number: 07106363)

 

 Balance Sheet

30 June 2020

 

  

6 mths to

30 June 2020

£

 
FIXED ASSETS    
Plant and machinery   21,329 
    21,329 
      
CURRENT ASSETS     
Stocks   11,197 
Trade debtors   678,739 
Provision for bad debts   (247,870)
Amount due from related party   3,064,695 
Directors' current accounts   172,235 
Other debtors   - 
Prepayments and accrued income   2,076 
Cash in hand   - 
Bank account   53,493 
    3,734,565 
      
CURRENT LIABILITIES     
      
Trade creditors   (91,815)
VAT   (237,647)
Corporation tax   (265,510)
Social security and other tax   (25,290)
Other creditors   - 
Amounts due to related parties   (341,912)
Accrued expenses   (791,098)
Other loans   (82,000)
    1,835,272 
      
LONG TERM LIABILITIES     
Other creditors   198,000 
    198,000 
      
    1,722,622 
      
CAPITAL AND RESERVES     
Called up share capital   2 
Profit and loss account   1,722,620 
    1,722,622