Silverfin false false 31/08/2023 01/09/2022 31/08/2023 M G Lake 10/08/2017 11 October 2023 The principal activity of the Company during the year was the provision of social work activities. 10909862 2023-08-31 10909862 bus:Director1 2023-08-31 10909862 2022-08-31 10909862 core:CurrentFinancialInstruments 2023-08-31 10909862 core:CurrentFinancialInstruments 2022-08-31 10909862 core:ShareCapital 2023-08-31 10909862 core:ShareCapital 2022-08-31 10909862 core:RetainedEarningsAccumulatedLosses 2023-08-31 10909862 core:RetainedEarningsAccumulatedLosses 2022-08-31 10909862 core:PlantMachinery 2022-08-31 10909862 core:FurnitureFittings 2022-08-31 10909862 core:PlantMachinery 2023-08-31 10909862 core:FurnitureFittings 2023-08-31 10909862 2022-09-01 2023-08-31 10909862 bus:FilletedAccounts 2022-09-01 2023-08-31 10909862 bus:SmallEntities 2022-09-01 2023-08-31 10909862 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10909862 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10909862 bus:Director1 2022-09-01 2023-08-31 10909862 core:PlantMachinery 2022-09-01 2023-08-31 10909862 core:FurnitureFittings 2022-09-01 2023-08-31 10909862 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure

Company No: 10909862 (England and Wales)

MIKARE LTD

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

MIKARE LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

MIKARE LTD

BALANCE SHEET

As at 31 August 2023
MIKARE LTD

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 17,999 0
17,999 0
Current assets
Debtors 4 60,110 417
Cash at bank and in hand 27,230 0
87,340 417
Creditors: amounts falling due within one year 5 ( 136,896) 0
Net current (liabilities)/assets (49,556) 417
Total assets less current liabilities (31,557) 417
Net (liabilities)/assets ( 31,557) 417
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 31,558 ) 416
Total shareholder's (deficit)/funds ( 31,557) 417

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mikare Ltd (registered number: 10909862) were approved and authorised for issue by the Director on 11 October 2023. They were signed on its behalf by:

M G Lake
Director
MIKARE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
MIKARE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mikare Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £31,557. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents 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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 1

3. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 September 2022 0 0 0
Additions 17,096 4,098 21,194
At 31 August 2023 17,096 4,098 21,194
Accumulated depreciation
At 01 September 2022 0 0 0
Charge for the financial year 2,472 723 3,195
At 31 August 2023 2,472 723 3,195
Net book value
At 31 August 2023 14,624 3,375 17,999
At 31 August 2022 0 0 0

4. Debtors

2023 2022
£ £
Trade debtors 60,110 0
Other debtors 0 417
60,110 417

5. Creditors: amounts falling due within one year

2023 2022
£ £
Other taxation and social security 8,247 0
Other creditors 128,649 0
136,896 0