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COMPANY REGISTRATION NUMBER: 03877550
Miratech Limited
Filleted Unaudited Financial Statements
30 November 2023
Miratech Limited
Officers and Professional Advisers
Director
M McCormick
Registered office
1 Stonecross
St Albans
Herts
AL1 4AA
Accountants
Warners
Chartered Accountants
3a The Wenta Business Centre
Colne Way
Watford
WD24 7ND
Miratech Limited
Balance Sheet
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
283
515
Current assets
Debtors
6
600
775
Cash at bank and in hand
4,770
5,593
-------
-------
5,370
6,368
Creditors: amounts falling due within one year
7
6,166
6,214
-------
-------
Net current (liabilities)/assets
( 796)
154
----
----
Total assets less current liabilities
( 513)
669
----
----
Net (liabilities)/assets
( 513)
669
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 613)
569
----
----
Shareholders (deficit)/funds
( 513)
669
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
M McCormick _______________ Director
Company registration number: 03877550
Miratech Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Stonecross, St Albans, Herts, AL1 4AA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. With the continued support of the director the company is able to continue as a going concern.
Revenue recognition
Turnover represents the amount earned for work carried out during the year. It is measured at the fair value of the receivables for goods supplied and services rendered and takes account of the stage of completion of the work.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computers
-
30% straight line
Equipment
-
25% reducing balance
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Computer equipment
Equipment
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
1,033
617
1,650
-------
----
-------
Depreciation
At 1 December 2022
662
473
1,135
Charge for the year
197
35
232
-------
----
-------
At 30 November 2023
859
508
1,367
-------
----
-------
Carrying amount
At 30 November 2023
174
109
283
-------
----
-------
At 30 November 2022
371
144
515
-------
----
-------
6. Debtors
2023
2022
£
£
Trade debtors
600
590
Prepayments and accrued income
13
Corporation tax repayable
172
----
----
600
775
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
9
Accruals and deferred income
540
595
Social security and other taxes
164
166
Director loan accounts
5,453
5,453
-------
-------
6,166
6,214
-------
-------
8. Transactions with directors
During the year dividends of £Nil (2022: £1,800) were paid to a director.