Company Registration No. 07684339 (England and Wales)
MIH TRADERS LTD
Unaudited accounts
for the year ended 30 June 2023
MIH TRADERS LTD
Unaudited accounts
Contents
MIH TRADERS LTD
Company Information
for the year ended 30 June 2023
Director
Mr.Dasitha Warnaka Henpita Gamage
Company Number
07684339 (England and Wales)
Registered Office
15 Rokewood Close
Kingswinford
West Midlands
DY6 7SB
GB
Accountants
RES ACCOUNTANTS
4A All Saints Road
Kings Heath
Birmingham
West Midlands
B14 7LL
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
MIH TRADERS LTD
for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MIH TRADERS LTD for the year ended 30 June 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of MIH TRADERS LTD, as a body, in accordance with the terms of our engagement letter dated 16 April 2019. Our work has been undertaken solely to prepare for your approval the accounts of MIH TRADERS LTD and state those matters that we have agreed to state to the Board of Directors of MIH TRADERS LTD, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MIH TRADERS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MIH TRADERS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of MIH TRADERS LTD. You consider that MIH TRADERS LTD 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 accounts of MIH TRADERS LTD. 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 accounts.
RES ACCOUNTANTS
Member in Practice
4A All Saints Road
Kings Heath
Birmingham
West Midlands
B14 7LL
26 March 2024
MIH TRADERS LTD
Statement of financial position
as at 30 June 2023
Tangible assets
1,294
1,617
Inventories
196,570
184,606
Cash at bank and in hand
15,143
(14,058)
Creditors: amounts falling due within one year
(77,364)
(57,763)
Net current (liabilities)/assets
(51,398)
77,144
Total assets less current liabilities
(50,104)
78,761
Creditors: amounts falling due after more than one year
(96,198)
(42,000)
Net (liabilities)/assets
(146,302)
36,761
Called up share capital
1,000
1,000
Profit and loss account
(147,302)
35,761
Shareholders' funds
(146,302)
36,761
For the year ending 30 June 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 26 March 2024 and were signed on its behalf by
Mr.Dasitha Warnaka Henpita Gamage
Director
Company Registration No. 07684339
MIH TRADERS LTD
Notes to the Accounts
for the year ended 30 June 2023
MIH TRADERS LTD is a private company, limited by shares, registered in England and Wales, registration number 07684339. The registered office is 15 Rokewood Close, Kingswinford, West Midlands, DY6 7SB, GB.
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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 year, 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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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:
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Tangible fixed assets
Total
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Average number of employees
During the year the average number of employees was 30 (2022: 33).