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REGISTERED NUMBER: 01598311 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SKI MIQUEL LIMITED

SKI MIQUEL LIMITED (REGISTERED NUMBER: 01598311)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


SKI MIQUEL LIMITED (REGISTERED NUMBER: 01598311)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,150,321 4,121,946
Investments 5 1 -
4,150,322 4,121,946

CURRENT ASSETS
Debtors 6 481,035 733,421
Cash at bank and in hand 1,058,610 631,838
1,539,645 1,365,259
CREDITORS
Amounts falling due within one year 7 (1,749,417 ) (1,631,996 )
NET CURRENT LIABILITIES (209,772 ) (266,737 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,940,550

3,855,209

CREDITORS
Amounts falling due after more than one
year

8

(1,424,917

)

(1,545,413

)

PROVISIONS FOR LIABILITIES (116,854 ) (94,271 )
NET ASSETS 2,398,779 2,215,525

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Fair value reserve 1,633,507 1,654,302
Retained earnings 735,272 531,223
2,398,779 2,215,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SKI MIQUEL LIMITED (REGISTERED NUMBER: 01598311)

BALANCE SHEET - continued
29 FEBRUARY 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 director and authorised for issue on 1 August 2024 and were signed by:





R Johnson - Director


SKI MIQUEL LIMITED (REGISTERED NUMBER: 01598311)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Ski Miquel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01598311

Registered office: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Turnover consists of booking fees for various Ski Resorts throughout Europe.

Deposits are recognised as income when the entity meets its required service to a customer in accordance with the terms and conditions of the booking.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Website costs- 33% straight line
Fixtures and fittings- 20% straight line
Motor vehicles- 25% straight line
Computer equipment- 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Freehold property
Freehold property is revalued annually on an open market basis. No depreciation is charged on this class of asset.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.


SKI MIQUEL LIMITED (REGISTERED NUMBER: 01598311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
After reviewing the company's credit facilities, the director believes that the company has adequate resources to continue in operational existence.

3. EMPLOYEES

The average number of employees during the year was 5 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 3,979,080 1,049,978 5,029,058
Additions 44,408 50,754 95,162
At 29 February 2024 4,023,488 1,100,732 5,124,220
DEPRECIATION
At 1 March 2023 - 907,112 907,112
Charge for year - 66,787 66,787
At 29 February 2024 - 973,899 973,899
NET BOOK VALUE
At 29 February 2024 4,023,488 126,833 4,150,321
At 28 February 2023 3,979,080 142,866 4,121,946

SKI MIQUEL LIMITED (REGISTERED NUMBER: 01598311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 29 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2021 739,261 - 739,261
Valuation in 2016 32,399 - 32,399
Valuation in 2014 52,990 - 52,990
Valuation in 2011 647,268 - 647,268
Valuation in 2007 77,303 - 77,303
Valuation in 2004 55,000 - 55,000
Valuation in 2002 25,000 - 25,000
Valuation in 2001 15,000 - 15,000
Valuation in 2000 75,931 - 75,931
Cost 2,303,336 1,100,732 3,404,068
4,023,488 1,100,732 5,124,220

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1
At 29 February 2024 1
NET BOOK VALUE
At 29 February 2024 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,935 308,141
Other debtors 479,100 425,280
481,035 733,421

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 175,648 173,601
Trade creditors 363,510 320,478
Tax 71,346 31,842
Other creditors 1,138,913 1,106,075
1,749,417 1,631,996

SKI MIQUEL LIMITED (REGISTERED NUMBER: 01598311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-5 years 568,418 640,199
Bank loans more 5 yr by instal 170,109 245,722
Bank loans more 5 yrs non-inst 638,453 618,648
Directors' loan accounts 47,937 40,844
1,424,917 1,545,413

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 638,453 618,648

Repayable by instalments
Bank loans more 5 yr by instal 170,109 245,722

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,552,628 1,678,170

10. RELATED PARTY DISCLOSURES


Companies under common control
Amounts
due by

Amounts
due to
£ £
Opening balance 308 -
Amounts advanced 1,464 5,600
Amounts repaid - -
Closing balance 1,772 5,600
These balances are included in debtors and creditors respectively.