MiHaz Limited 11893167 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of IT & financial consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 11893167 2023-04-01 2024-03-31 11893167 2024-03-31 11893167 core:RetainedEarningsAccumulatedLosses 2024-03-31 11893167 core:ShareCapital 2024-03-31 11893167 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11893167 bus:SmallEntities 2023-04-01 2024-03-31 11893167 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11893167 bus:FullAccounts 2023-04-01 2024-03-31 11893167 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11893167 bus:RegisteredOffice 2023-04-01 2024-03-31 11893167 bus:Director1 2023-04-01 2024-03-31 11893167 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11893167 core:LicencesFranchises 2023-04-01 2024-03-31 11893167 countries:EnglandWales 2023-04-01 2024-03-31 11893167 2023-03-31 11893167 2022-04-01 2023-03-31 11893167 2023-03-31 11893167 core:RetainedEarningsAccumulatedLosses 2023-03-31 11893167 core:ShareCapital 2023-03-31 11893167 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11893167

MiHaz Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

MiHaz Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

MiHaz Limited

(Registration number: 11893167)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

71,399

10,054

Cash at bank and in hand

 

7,311

473

78,710

10,527

Creditors: Amounts falling due within one year

(43,892)

(13,418)

Net assets/(liabilities)

 

34,818

(2,891)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

34,718

(2,991)

Total equity

 

34,818

(2,891)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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 Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 29 September 2024
 

Miss Z E Freeman

Director

 

MiHaz Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the director on 29 September 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis. The sole director and shareholder has agreed to support the company for the next 12 months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Licences

Straight line 50%

 

MiHaz Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

20,000

At 31 March 2024

20,000

Amortisation

At 1 April 2023

20,000

At 31 March 2024

20,000

Carrying amount

At 31 March 2024

-