IRIS Accounts Production v24.2.0.383 06789108 Board of Directors 1.1.23 31.12.23 31.12.23 true false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067891082022-12-31067891082023-12-31067891082023-01-012023-12-31067891082021-12-31067891082022-01-012022-12-31067891082022-12-3106789108ns15:EnglandWales2023-01-012023-12-3106789108ns14:PoundSterling2023-01-012023-12-3106789108ns10:Director12023-01-012023-12-3106789108ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106789108ns10:SmallEntities2023-01-012023-12-3106789108ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106789108ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106789108ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106789108ns10:FullAccounts2023-01-012023-12-3106789108ns5:Associate12023-01-012023-12-3106789108ns10:Director22023-01-012023-12-3106789108ns10:RegisteredOffice2023-01-012023-12-3106789108ns5:CurrentFinancialInstruments2023-12-3106789108ns5:CurrentFinancialInstruments2022-12-3106789108ns5:ShareCapital2023-12-3106789108ns5:ShareCapital2022-12-3106789108ns5:RetainedEarningsAccumulatedLosses2023-12-3106789108ns5:RetainedEarningsAccumulatedLosses2022-12-3106789108ns5:CostValuation2022-12-3106789108ns5:CostValuation2023-12-3106789108ns5:DisposalsRepaymentsInvestments2023-12-3106789108ns5:Subsidiary12023-01-012023-12-3106789108ns5:Subsidiary112023-01-012023-12-3106789108ns5:Subsidiary12023-12-3106789108ns5:Subsidiary12022-12-31067891081ns5:Associate12023-01-012023-12-3106789108ns5:Associate12023-12-3106789108ns5:Associate12022-12-3106789108ns5:Associate12022-01-012022-12-3106789108ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106789108ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 06789108 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MI CONSULTING UK LIMITED

MI CONSULTING UK LIMITED (REGISTERED NUMBER: 06789108)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MI CONSULTING UK LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: M Rigby
I Snowdon





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 06789108 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

MI CONSULTING UK LIMITED (REGISTERED NUMBER: 06789108)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 1,179,998 1,180,004

CURRENT ASSETS
Debtors 5 10,301 10,200
Cash at bank and in hand 63,090 84,523
73,391 94,723
CREDITORS
Amounts falling due within one year 6 (3,078 ) (2,022 )
NET CURRENT ASSETS 70,313 92,701
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,250,311

1,272,705

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,250,211 1,272,605
SHAREHOLDERS' FUNDS 1,250,311 1,272,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:





I Snowdon - Director


MI CONSULTING UK LIMITED (REGISTERED NUMBER: 06789108)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

MI Consulting UK Limited is a private company, limited by share capital, incorporated in England and Wales and the company's registration number is 06789108. The address of the registered office is Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ.

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.

The financial statements are presented in Sterling (£) and figures are rounded to the nearest £1.

Preparation of consolidated financial statements
The company and its subsidiary form a small group. The company is therefore not required to produce consolidated financial statements and has not done so. These financial statements present information about the company as a single entity.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Investments
Fixed asset investments are held at cost less accumulated impairment losses.

Income from participating interests
Income from participating interests represents dividends received on a declared basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MI CONSULTING UK LIMITED (REGISTERED NUMBER: 06789108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


4. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 January 2023 6 1,179,998 1,180,004
Disposals (6 ) - (6 )
At 31 December 2023 - 1,179,998 1,179,998
NET BOOK VALUE
At 31 December 2023 - 1,179,998 1,179,998
At 31 December 2022 6 1,179,998 1,180,004

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

MI Technologies (MIT) Ltd
Registered office: United Kingdom
Nature of business: Manufacture and retail of adhesives
%
Class of shares: holding
Ordinary 95.00
2023 2022
£    £   
Aggregate capital and reserves - 6

Associated company

Marbocote Limited
Registered office: United Kingdom
Nature of business: Wholesalers of chemical products
%
Class of shares: holding
Ordinary 50.00
2023 2022
£    £   
Aggregate capital and reserves 2,043,959 2,169,667
Profit for the year 1,774,292 1,611,025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 10,301 10,200

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 3,078 2,022