Registration number:
New Mite UK Limited
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New Mite UK Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
New Mite UK Limited
Company Information
Director |
J A Hoyle |
Registered office |
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Accountants |
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New Mite UK Limited
Statement of Financial Position as at 31 August 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
218,686 |
220,833 |
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Shareholders' funds |
218,687 |
220,834 |
For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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J A Hoyle
Director
Company registration number: 08650616
New Mite UK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the ownership and use of a sub licence exploiting intellectual property.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The company had net assets at 31 August 2024 of £218,687, including cash at bank of £218,117.
The company has no significant fixed overheads and the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
New Mite UK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Sub-licence |
Over the useful economic life |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company during the year, was
Intangible assets |
Sub-licence |
Total |
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Cost or valuation |
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At 1 September 2023 |
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At 31 August 2024 |
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Amortisation |
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Amortisation charge |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Debtors |
2024 |
2023 |
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Other debtors |
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