IRIS Accounts Production v24.2.0.383 08623497 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086234972022-12-31086234972023-12-31086234972023-01-012023-12-31086234972021-12-31086234972022-01-012022-12-31086234972022-12-3108623497ns15:EnglandWales2023-01-012023-12-3108623497ns14:PoundSterling2023-01-012023-12-3108623497ns10:Director12023-01-012023-12-3108623497ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3108623497ns10:SmallEntities2023-01-012023-12-3108623497ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3108623497ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3108623497ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108623497ns10:FullAccounts2023-01-012023-12-3108623497ns10:OrdinaryShareClass12023-01-012023-12-3108623497ns10:Director22023-01-012023-12-3108623497ns10:Director32023-01-012023-12-3108623497ns10:CompanySecretary12023-01-012023-12-3108623497ns10:RegisteredOffice2023-01-012023-12-3108623497ns5:CurrentFinancialInstruments2023-12-3108623497ns5:CurrentFinancialInstruments2022-12-3108623497ns5:Non-currentFinancialInstruments2023-12-3108623497ns5:Non-currentFinancialInstruments2022-12-3108623497ns5:ShareCapital2023-12-3108623497ns5:ShareCapital2022-12-3108623497ns5:RevaluationReserve2023-12-3108623497ns5:RevaluationReserve2022-12-3108623497ns5:RetainedEarningsAccumulatedLosses2023-12-3108623497ns5:RetainedEarningsAccumulatedLosses2022-12-3108623497ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3108623497ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3108623497ns5:Non-currentFinancialInstruments2023-01-012023-12-3108623497ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3108623497ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3108623497ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 08623497 (England and Wales)










Miranda Investments Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Miranda Investments Limited (Registered number: 08623497)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Miranda Investments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A M de Selincourt
C C de Selincourt
Mrs. N J Ewing





SECRETARY: A M de Selincourt





REGISTERED OFFICE: Vicars Hill Lodge
Vicars Hill
Lymington
Hampshire
SO41 5QB





REGISTERED NUMBER: 08623497 (England and Wales)

Miranda Investments Limited (Registered number: 08623497)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 5 750,000 750,000

CURRENT ASSETS
Investments 6 461,023 461,023
Cash at bank 45,394 93,702
506,417 554,725
CREDITORS
Amounts falling due within one year 7 (527,727 ) (578,607 )
NET CURRENT LIABILITIES (21,310 ) (23,882 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

728,690

726,118

CREDITORS
Amounts falling due after more than one
year

8

(455,586

)

(455,586

)

PROVISIONS FOR LIABILITIES (41,369 ) (41,369 )
NET ASSETS 231,735 229,163

CAPITAL AND RESERVES
Called up share capital 10 640 640
Revaluation reserve 219,331 219,331
Retained earnings 11,764 9,192
SHAREHOLDERS' FUNDS 231,735 229,163

Miranda Investments Limited (Registered number: 08623497)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





A M de Selincourt - Director


Miranda Investments Limited (Registered number: 08623497)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. GENERAL INFORMATION

Miranda Investments 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.

2. 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.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is pound sterling.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
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 financial statements have been prepared on a going concern basis.

TANGIBLE ASSETS
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class Depreciation method and rate
Investment property Not depreciated

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Miranda Investments Limited (Registered number: 08623497)

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

3. ACCOUNTING POLICIES - continued

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.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is
determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss
Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

INVESTMENT PROPERTY
Investment property is carried at fair value, derived from the current market prices for comparable real estate
determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

DIVIDENDS
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Miranda Investments Limited (Registered number: 08623497)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 750,000
NET BOOK VALUE
At 31 December 2023 750,000
At 31 December 2022 750,000

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The investment property fair value of £750,000 was determined by the directors who use current market prices for comparable property, adjusted for any differences in nature, location and condition.

There has been no valuation of investment property by an independent valuer.

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 461,023 461,023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Loans and borrowings (see note 9) 22,296 22,296
Directors' current accounts 503,289 554,271
Accruals and deferred income 2,142 2,040
527,727 578,607

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loans and borrowings (see note 9) 455,586 455,586

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 455,586 455,586

Creditors include bank loans and overdrafts, which are secured by means of fixed and floating charges over the investment property, of £455,586 (2022 - £455,586).

Creditors include bank loans not repayable by instalments of £455,586 (2022 - £455,586) due after more than five years.

Miranda Investments Limited (Registered number: 08623497)

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

9. LOANS AND BORROWINGS

An analysis of the maturity of loans and borrowings is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Loans and borrowings 22,296 22,296

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 455,586 455,586

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years
The company has an interest only mortgage on the investment property, the capital of which is repayable after 25 years. The interest rate is fixed at 2.99% for the first 5 years of the loan, after which it increases to a variable rate set at a minimum of 4.99% above the Bank of England Base Rate in place at that time.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
640 Ordinary shares £1 640 640