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REGISTERED NUMBER: 08167517 (England and Wales)















MICHCO 1208 LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 JUNE 2023






MICHCO 1208 LIMITED (REGISTERED NUMBER: 08167517)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JUNE 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


MICHCO 1208 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 JUNE 2023







DIRECTORS: D M Friend
R J H Randall





REGISTERED OFFICE: The Long Barn
Manor Courtyard
Stratton-On-The-Fosse
Radstock
BA3 4QF





REGISTERED NUMBER: 08167517 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MICHCO 1208 LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Michco 1208 Limited for the year ended 28 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Michco 1208 Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Michco 1208 Limited and state those matters that we have agreed to state to the Board of Directors of Michco 1208 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michco 1208 Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Michco 1208 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Michco 1208 Limited. You consider that Michco 1208 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Michco 1208 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
Fryern House
125 Winchester Road
Chandlers Ford
Hampshire
SO53 2DR


16 November 2023

MICHCO 1208 LIMITED (REGISTERED NUMBER: 08167517)

BALANCE SHEET
28 JUNE 2023

2023 2022
Notes £ £
CURRENT ASSETS
Debtors 4 2,311,944 2,104,630

CREDITORS
Amounts falling due within one year 5 2,162,368 2,162,368
NET CURRENT ASSETS/(LIABILITIES) 149,576 (57,738 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,576

(57,738

)

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 149,573 (57,741 )
SHAREHOLDERS' FUNDS 149,576 (57,738 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





R J H Randall - Director


MICHCO 1208 LIMITED (REGISTERED NUMBER: 08167517)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JUNE 2023


1. STATUTORY INFORMATION

Michco 1208 Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08167517 and the address of its registered office is The Long Barn Manor Courtyard, Stratton-On-The-Fosse, Radstock, England, BA3 4QF.

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.

The presentation currency is £ sterling.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The directors do not consider there to be any significant judgements or estimates.

Taxation
Taxation for the year 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 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 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 year 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.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Finance costs
Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 2,311,944 2,104,630

MICHCO 1208 LIMITED (REGISTERED NUMBER: 08167517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 JUNE 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Shareholder loans 2,162,368 2,162,368

The shareholder loans bear interest at 10% and are secured by fixed and floating charges over the assets of the company. A fee is payable upon repayment of the loan which has been accrued for in full together with any uncapitalised interest due. From 1 July 2016 the shareholders opted to not charge any further interest on the loans.

6. RELATED PARTY DISCLOSURES

In the year a loan was advanced to Prescient Loans Limited, a company of which R J H Randall is the only shareholder. At the year end £2,311,944 (2022: £2,104,630) was outstanding. Interest of £208,513 (2022: £208,641) was charged on the loan during the year.

R J H Randall is owed £2,162,368 (2022: £2,162,368) which includes accrued interest and exit fees of £2,162,368 (2022: £2,162,368). R J H Randall opted to charge no further interest on the loan from 1 July 2016. Under the requirements of FRS 102, the accrued interest has been added to the shareholder loan account.

7. ULTIMATE CONTROLLING PARTY

The controlling party is R J H Randall.