Registered number
05161198
Mink Bikini Limited
Unaudited Filleted Accounts
31 December 2022
Mink Bikini Limited
Registered number: 05161198
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 - 314
Investments 4 95,000 -
95,000 314
Current assets
Debtors 5 13,500 11,000
Cash at bank and in hand 6,857 111,785
20,357 122,785
Creditors: amounts falling due within one year 6 (58,405) (54,186)
Net current (liabilities)/assets (38,048) 68,599
Total assets less current liabilities 56,952 68,913
Creditors: amounts falling due after more than one year 7 (40,833) (50,000)
Provisions for liabilities - (60)
Net assets 16,119 18,853
Capital and reserves
Called up share capital 100 100
Profit and loss account 16,019 18,753
Shareholder's funds 16,119 18,853
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M S Baig
Director
Approved by the board on 26 December 2023
Mink Bikini Limited
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings & equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2022 1,875
Disposals (1,875)
At 31 December 2022 -
Depreciation
At 1 January 2022 1,561
On disposals (1,561)
At 31 December 2022 -
Net book value
At 31 December 2022 -
At 31 December 2021 314
4 Investments
Other
investments
£
Cost
Additions 95,000
At 31 December 2022 95,000
5 Debtors 2022 2021
£ £
Trade debtors 13,500 11,000
6 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs (889) (889)
Other creditors 59,294 55,075
58,405 54,186
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 40,833 50,000
8 Controlling party
The ultimate controlling party is A I Baig and A Baig.
9 Other information
Mink Bikini Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rosedean House
4 Argyle Road
Barnet
Herts
EN5 4DX
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