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Registration number: 08650616

New Mite UK Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

New Mite UK Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 4

 

New Mite UK Limited

Company Information

Director

J A Hoyle

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

New Mite UK Limited

Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

1

Current assets

 

Debtors

5

570

572

Cash at bank and in hand

 

218,117

220,261

 

218,687

220,833

Net assets

 

218,687

220,834

Capital and reserves

 

Called up share capital

1

1

Retained earnings

218,686

220,833

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 23 September 2024
 

.........................................

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the ownership and use of a sub licence exploiting intellectual property.

2

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

Intangible assets

Sub-licence
£

Total
£

Cost or valuation

At 1 September 2023

1

1

At 31 August 2024

1

1

Amortisation

Amortisation charge

1

1

At 31 August 2024

1

1

Carrying amount

At 31 August 2024

-

-

At 31 August 2023

1

1

5

Debtors

2024
£

2023
£

Other debtors

570

572

570

572