Mirras Limited 04013839 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Property investment Digita Accounts Production Advanced 6.30.9574.0 true true 04013839 2022-07-01 2023-06-30 04013839 2023-06-30 04013839 bus:OrdinaryShareClass1 2023-06-30 04013839 core:RetainedEarningsAccumulatedLosses 2023-06-30 04013839 core:RevaluationReserve 2023-06-30 04013839 core:ShareCapital 2023-06-30 04013839 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04013839 core:FurnitureFittingsToolsEquipment 2023-06-30 04013839 core:LandBuildings 2023-06-30 04013839 bus:SmallEntities 2022-07-01 2023-06-30 04013839 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04013839 bus:FullAccounts 2022-07-01 2023-06-30 04013839 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04013839 bus:RegisteredOffice 2022-07-01 2023-06-30 04013839 bus:CompanySecretary1 2022-07-01 2023-06-30 04013839 bus:Director2 2022-07-01 2023-06-30 04013839 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 04013839 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04013839 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 04013839 core:LandBuildings 2022-07-01 2023-06-30 04013839 countries:AllCountries 2022-07-01 2023-06-30 04013839 2022-06-30 04013839 core:FurnitureFittingsToolsEquipment 2022-06-30 04013839 core:LandBuildings 2022-06-30 04013839 2021-07-01 2022-06-30 04013839 2022-06-30 04013839 bus:OrdinaryShareClass1 2022-06-30 04013839 core:RetainedEarningsAccumulatedLosses 2022-06-30 04013839 core:RevaluationReserve 2022-06-30 04013839 core:ShareCapital 2022-06-30 04013839 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 04013839 core:FurnitureFittingsToolsEquipment 2022-06-30 04013839 core:LandBuildings 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04013839

Mirras Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Mirras Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Mirras Limited

Company Information
__________________________________________________________________________

Director

Mr Rajib Kumar Agarwal

Company secretary

Madhu Agarwal

Registered office

Abbey House
342 Regents Park Road
N3 2LJ


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Mirras Limited

(Registration number: 04013839)
Balance Sheet as at 30 June 2023
__________________________________________________________________________

Note

2023
£

2022
£

   

     

fixed assets

   

 

tangible assets

3

 

1,100,000

 

1,100,012

Current assets

   

 

Debtors

4

-

 

6,339

 

Cash at bank and in hand

 

82,832

 

95,734

 

 

82,832

 

102,073

 

Creditors: Amounts falling due within one year

5

(231,608)

 

(333,652)

 

Net current liabilities

   

(148,776)

 

(231,579)

Net assets

   

951,224

 

868,433

capital and reserves

   

 

Called up share capital

100

 

100

 

Revaluation reserve

330,648

 

330,648

 

Profit and loss account

620,476

 

537,685

 

Total equity

   

951,224

 

868,433

For the financial year ending 30 June 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

Approved and authorised by the director on 14 November 2023
 

.........................................
Mr Rajib Kumar Agarwal
Director

 

Mirras Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

1

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% RB

 

Mirras Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Mirras Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

1,100,000

3,571

1,103,571

At 30 June 2023

1,100,000

3,571

1,103,571

Depreciation

At 1 July 2022

-

3,559

3,559

Charge for the year

-

12

12

At 30 June 2023

-

3,571

3,571

Carrying amount

At 30 June 2023

1,100,000

-

1,100,000

At 30 June 2022

1,100,000

12

1,100,012

Included within the net book value of land and buildings above is £1,100,000 (2022 - £1,100,000) in respect of freehold land and buildings.
 

4

Debtors

Current

2023
£

2022
£

Other debtors

-

6,339

 

Mirras Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

163,910

320,926

Directors current account

44,881

-

Taxation and social security

 

20,660

10,569

Other creditors

 

2,157

2,157

 

231,608

333,652

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share capital of £1 each

100

100

100

100

         

7

Loans and borrowings