Company Registration No. 09527717 (England and Wales)
MIRLAB LIMITED
Unaudited accounts
for the period from 1 May 2023 to 31 January 2024
MIRLAB LIMITED
Unaudited accounts
Contents
MIRLAB LIMITED
Company Information
for the period from 1 May 2023 to 31 January 2024
Company Number
09527717 (England and Wales)
Registered Office
21 DOWNAGE
HENDON
LONDON
NW4 1AS
UNITED KINGDOM
Accountants
Kaushik Khiroya, AFA
LMK ACCOUNTING LTD
THE GATEHOUSE
GATEHOUSE WAY
AYLESBURY
HP19 8DB
MIRLAB LIMITED
Statement of financial position
as at 31 January 2024
Cash at bank and in hand
115,231
178,476
Creditors: amounts falling due within one year
(10,246)
(46,657)
Net current assets
104,985
131,819
Total assets less current liabilities
104,985
139,459
Creditors: amounts falling due after more than one year
(21,591)
(29,091)
Called up share capital
100
100
Profit and loss account
83,294
110,268
Shareholders' funds
83,394
110,368
For the period ending 31 January 2024 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 director acknowledges his 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 and authorised for issue on 21 February 2024 and were signed on its behalf by
Mr A J Batchat
Director
Company Registration No. 09527717
MIRLAB LIMITED
Notes to the Accounts
for the period from 1 May 2023 to 31 January 2024
MIRLAB LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09527717. The registered office is 21 DOWNAGE, HENDON, LONDON, NW4 1AS, 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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures & fittings
Reducing balance - 20%
Computer equipment
Reducing balance - 20%
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
MIRLAB LIMITED
Notes to the Accounts
for the period from 1 May 2023 to 31 January 2024
Financial instruments are classified by the directors as basic or advanced following the condiTions in FRS 102 section 11.
Basic financial instruments, which include trade and other receivables and payables, cash and bank balances, are amortised at cost.
Advanced financial instruments which include interest rate swap and forward foreign exchange contracts, are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2023
3,702
10,361
14,063
Disposals
(3,702)
(10,361)
(14,063)
At 1 May 2023
1,458
4,965
6,423
Charge for the period
337
809
1,146
On disposals
(1,795)
(5,774)
(7,569)
At 30 April 2023
2,244
5,396
7,640
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,973
9,788
Taxes and social security
-
26,453
Loans from directors
3
219
6
Creditors: amounts falling due after more than one year
2024
2023
MIRLAB LIMITED
Notes to the Accounts
for the period from 1 May 2023 to 31 January 2024
7
Average number of employees
During the period the average number of employees was 2 (2023: 2).