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Company Registration No. NI605463 (Northern Ireland)
Miskimmin Wealth Limited Unaudited accounts for the year ended 31 March 2023
Miskimmin Wealth Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
170,764 
203,578 
Tangible assets
97,868 
111,252 
268,632 
314,830 
Current assets
Debtors
30,999 
31,702 
Cash at bank and in hand
105,020 
155,887 
136,019 
187,589 
Creditors: amounts falling due within one year
(143,455)
(137,615)
Net current (liabilities)/assets
(7,436)
49,974 
Total assets less current liabilities
261,196 
364,804 
Creditors: amounts falling due after more than one year
(82,155)
(170,120)
Net assets
179,041 
194,684 
Capital and reserves
Called up share capital
13 
13 
Profit and loss account
179,028 
194,671 
Shareholders' funds
179,041 
194,684 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by
Mark Miskimmin Director Company Registration No. NI605463
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Miskimmin Wealth Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Miskimmin Wealth Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI605463. The registered office is Pilot House , 6 Pilots View , Belfast, BT3 9LE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The directors believe that the company Miskimmin Wealth Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from a contract to provide financial planning services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
4% - 10% Straight Line
Fixtures & fittings
25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Miskimmin Wealth Limited Notes to the Accounts for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
559,515 
Disposals
(285,000)
At 31 March 2023
274,515 
Amortisation
At 1 April 2022
355,937 
On disposals
(285,000)
Charge for the year
32,814 
At 31 March 2023
103,751 
Net book value
At 31 March 2023
170,764 
At 31 March 2022
203,578 
5
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
49,397 
174,437 
223,834 
Additions
- 
7,011 
7,011 
At 31 March 2023
49,397 
181,448 
230,845 
Depreciation
At 1 April 2022
4,863 
107,719 
112,582 
Charge for the year
2,840 
17,555 
20,395 
At 31 March 2023
7,703 
125,274 
132,977 
Net book value
At 31 March 2023
41,694 
56,174 
97,868 
At 31 March 2022
44,534 
66,718 
111,252 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
30,999 
31,453 
Other debtors
- 
249 
30,999 
31,702 
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Miskimmin Wealth Limited Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
87,965 
82,131 
Trade creditors
11,677 
7,309 
Taxes and social security
37,906 
42,626 
Loans from directors
171 
- 
Accruals
5,736 
5,549 
143,455 
137,615 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
82,155 
170,120 
Security on the bank loan is provided by way of fixed and floating charge.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
13 Ordinary shares of £1 each
13 
13 
10
Average number of employees
During the year the average number of employees was 21 (2022: 21).
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