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REGISTERED NUMBER: 13289145 (England and Wales)












Mighty Micro Group Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Mighty Micro Group Ltd (Registered number: 13289145)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Mighty Micro Group Ltd

Company Information
for the Year Ended 31 March 2024







Directors: R H Somaia
Mrs M R Somaia
N Somaia





Registered office: Unit 3a Demeter Buildings
Brighton Road
Stockport
SK4 2BE





Registered number: 13289145 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Mighty Micro Group Ltd (Registered number: 13289145)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
Fixed assets
Investment property 4 797,656 797,656

Current assets
Debtors 5 3,876 82,799
Cash at bank and in hand 106,927 72
110,803 82,871
Creditors
Amounts falling due within one year 6 16,242 21,819
Net current assets 94,561 61,052
Total assets less current liabilities 892,217 858,708

Capital and reserves
Called up share capital 72 72
Retained earnings 892,145 858,636
Shareholders' funds 892,217 858,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Mighty Micro Group Ltd (Registered number: 13289145)

Balance Sheet - continued
31 March 2024


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 25 July 2024 and were signed on its behalf by:





R H Somaia - Director


Mighty Micro Group Ltd (Registered number: 13289145)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Mighty Micro Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

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 or deferred taxation assets and liabilities are not discounted.

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.


Mighty Micro Group Ltd (Registered number: 13289145)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
Deferred tax
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.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

4. Investment property
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 797,656
Net book value
At 31 March 2024 797,656
At 31 March 2023 797,656

5. Debtors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Trade debtors 3,245 -
Other debtors 631 82,799
3,876 82,799

6. Creditors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Taxation and social security 10,381 10,160
Other creditors 5,861 11,659
16,242 21,819