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REGISTERED NUMBER: 02922515 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 31 OCTOBER 2023

FOR

MHI LIMITED

MHI LIMITED (REGISTERED NUMBER: 02922515)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MHI LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023







DIRECTOR: G J Miles





SECRETARY: Mrs M E Miles





REGISTERED OFFICE: Acorn Rise
Ellerburn Drive
Bridlington
East Yorkshire
YO16 7QS





REGISTERED NUMBER: 02922515 (England and Wales)





ACCOUNTANTS: Jackson Robson Licence
Chartered Accountants
33-35 Exchange Street
Driffield
East Yorkshire
YO25 6LL

MHI LIMITED (REGISTERED NUMBER: 02922515)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,826 13,821
Investments 5 25,204 86,926
32,030 100,747

CURRENT ASSETS
Debtors 6 35,551 143,315
Cash at bank and in hand 71,284 7,981
106,835 151,296
CREDITORS
Amounts falling due within one year 7 860 3,065
NET CURRENT ASSETS 105,975 148,231
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,005

248,978

CAPITAL AND RESERVES
Called up share capital 66,600 66,600
Retained earnings 8 71,405 182,378
SHAREHOLDERS' FUNDS 138,005 248,978

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 November 2023 and were signed by:




G J Miles - Director


MHI LIMITED (REGISTERED NUMBER: 02922515)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023

1. STATUTORY INFORMATION

MHI Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance and 20% on reducing balance

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

MHI LIMITED (REGISTERED NUMBER: 02922515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 591 26,600 2,929 30,120
Additions 335 - - 335
At 31 October 2023 926 26,600 2,929 30,455
DEPRECIATION
At 1 January 2023 464 13,300 2,536 16,300
Charge for period 292 6,650 387 7,329
At 31 October 2023 756 19,950 2,923 23,629
NET BOOK VALUE
At 31 October 2023 170 6,650 6 6,826
At 31 December 2022 127 13,300 393 13,820

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 86,926
Disposals (61,741 )
Revaluations 19
At 31 October 2023 25,204
NET BOOK VALUE
At 31 October 2023 25,204
At 31 December 2022 86,926

Cost or valuation at 31 October 2023 is represented by:

Other
investments
£   
Valuation in 2015 29,267
Valuation in 2016 30,740
Valuation in 2017 5,999
Valuation in 2018 (8,565 )
Valuation in 2019 17,934
Valuation in 2020 (23,940 )
Valuation in 2021 104,169
Valuation in 2022 (68,678 )
Valuation in 2023 (61,722 )
25,204

MHI LIMITED (REGISTERED NUMBER: 02922515)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 OCTOBER 2023

5. FIXED ASSET INVESTMENTS - continued

If other investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 37,850 102,239

Other investments were valued on an open market basis on 31 October 2023 by Transact Platform .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 125,000
Other debtors 35,551 18,315
35,551 143,315

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 1,550
Other creditors 860 1,515
860 3,065

8. RESERVES
Retained
earnings
£   

At 1 January 2023 182,377
Deficit for the period (29,522 )
Dividends (81,450 )
At 31 October 2023 71,405

9. RELATED PARTY DISCLOSURES

At 31 October 2023, the Director owed the Company £233 (2022 : company owed £90 to the Director). This balance is repayable on demand.