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Registered number: 04072224
Mithril Consultants Limited
Unaudited Financial Statements
For The Year Ended 14 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04072224
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,194 4,459
4,194 4,459
CURRENT ASSETS
Debtors 5 64 1,325
Cash at bank and in hand 14,869 19,824
14,933 21,149
Creditors: Amounts Falling Due Within One Year 6 (613 ) (833 )
NET CURRENT ASSETS (LIABILITIES) 14,320 20,316
TOTAL ASSETS LESS CURRENT LIABILITIES 18,514 24,775
NET ASSETS 18,514 24,775
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 18,414 24,675
SHAREHOLDERS' FUNDS 18,514 24,775
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For the year ending 14 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M Hudson
Director
10th September 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mithril Consultants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04072224 . The registered office is Unit 8 Wheatcroft Business Park, Landmere Lane, Edwalton, Nottingham, NG12 4DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Office Equipment 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Office Equipment Computer Equipment Total
£ £ £
Cost
As at 15 March 2023 3,956 7,760 11,716
Additions - 1,020 1,020
As at 14 March 2024 3,956 8,780 12,736
Depreciation
As at 15 March 2023 3,362 3,895 7,257
Provided during the period 149 1,136 1,285
As at 14 March 2024 3,511 5,031 8,542
Net Book Value
As at 14 March 2024 445 3,749 4,194
As at 15 March 2023 594 3,865 4,459
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,325
Taxation and social security 64 -
64 1,325
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 60
Taxation and social security - 42
Other creditors 613 731
613 833
7. Related Party Transactions
During the year total dividends of £1,000 were paid to the director (2023: £2,000).
As at 14th March 2024, the company owed the director £613 (2023: £656).
8. Ultimate Controlling Party
The company is controlled by the director.
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