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REGISTERED NUMBER: 07444331 (England and Wales)














Mirage II Limited

Unaudited Financial Statements

For The Year Ended 31 December 2023






Mirage II Limited (Registered number: 07444331)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


Mirage II Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: B K Woolford
Mrs K Woolford



REGISTERED OFFICE: 15 Prospect Street
Bridlington
East Yorkshire
YO15 2AE



REGISTERED NUMBER: 07444331 (England and Wales)



ACCOUNTANTS: Charles A. Wood & Co.
Chartered Accountants
15 Prospect Street
Bridlington
East Yorkshire
YO15 2AE



BANKERS: National Westminster Bank Plc
4 King Street
Bridlington
East Yorkshire
YO15 2ZA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Mirage II Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mirage II Limited for the year ended 31 December 2023 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mirage II Limited, as a body, in accordance with the terms of our engagement letter dated 28 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Mirage II Limited and state those matters that we have agreed to state to the Board of Directors of Mirage II Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mirage II Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mirage II Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mirage II Limited. You consider that Mirage II Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mirage II Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charles A. Wood & Co.
Chartered Accountants
15 Prospect Street
Bridlington
East Yorkshire
YO15 2AE


16 September 2024

Mirage II Limited (Registered number: 07444331)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,106 28,594
Tangible assets 5 1,815,690 1,667,643
1,837,796 1,696,237

CURRENT ASSETS
Debtors 6 686,183 147,923
Cash at bank 775,763 1,128,785
1,461,946 1,276,708
CREDITORS
Amounts falling due within one year 242,518 177,275
NET CURRENT ASSETS 1,219,428 1,099,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,057,224

2,795,670

CREDITORS
Amounts falling due after more than one
year

(14,809

)

(61,150

)

PROVISIONS FOR LIABILITIES (367,322 ) (360,989 )

ACCRUALS AND DEFERRED INCOME (261,233 ) (223,687 )
NET ASSETS 2,413,860 2,149,844

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,413,858 2,149,842
SHAREHOLDERS' FUNDS 2,413,860 2,149,844

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.

Mirage II Limited (Registered number: 07444331)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 September 2024 and were signed on its behalf by:





Mrs K Woolford - Director


Mirage II Limited (Registered number: 07444331)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mirage II Limited 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.

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.

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

Intangible fixed assets
Amortisation of fishing licences, purchased by the company in 2012, 2017 and 2019, are being provided on a straight line basis, over their estimated useful lives of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land - not provided
Property in the course of construction - not provided
Fixtures and fittings - 20% on cost
Plant and machinery - 10% on reducing balance
Fishing vessels - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Depreciation is not provided on assets in the course of construction.

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.

Mirage II Limited (Registered number: 07444331)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 80,856
AMORTISATION
At 1 January 2023 52,262
Amortisation for year 6,488
At 31 December 2023 58,750
NET BOOK VALUE

At 31 December 2023 22,106
At 31 December 2022 28,594

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 2,049,253
Additions 273,909
Disposals (12,373 )
At 31 December 2023 2,310,789
DEPRECIATION
At 1 January 2023 381,610
Charge for year 119,026
Eliminated on disposal (5,537 )
At 31 December 2023 495,099
NET BOOK VALUE
At 31 December 2023 1,815,690
At 31 December 2022 1,667,643

Mirage II Limited (Registered number: 07444331)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other debtors 95,068 -

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 24,949 56,479

The company's bank borrowings are secured by a fixed and floating charge over all of the company's assets.

8. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 250,000 -

9. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total financial commitments under non cancellable operating leases of £19,308 (2022 - £20,618).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
B K Woolford and Mrs K Woolford
Balance outstanding at start of year - 6,504
Amounts advanced 890,883 128,942
Amounts repaid (449,201 ) (135,446 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 441,682 -

The loan to the directors is repayable on demand and is interest free.

11. RELATED PARTY DISCLOSURES

The directors have provided a personal guarantee to the bank in respect of borrowings of £100,000.