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COMPANY REGISTRATION NUMBER: 14054665
MIR Food UK 2 Ltd
Filleted Unaudited Financial Statements
30 April 2024
MIR Food UK 2 Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
MIR Food UK 2 Ltd
Balance Sheet
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
166,014
168,089
Current assets
Stocks
280,250
259,650
Debtors
6
48,733
45,363
Cash at bank and in hand
34,412
129,169
---------
---------
363,395
434,182
Creditors: amounts falling due within one year
7
190,829
248,381
---------
---------
Net current assets
172,566
185,801
---------
---------
Total assets less current liabilities
338,580
353,890
Creditors: amounts falling due after more than one year
8
306,771
253,520
---------
---------
Net assets
31,809
100,370
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
31,709
100,270
--------
---------
Shareholders funds
31,809
100,370
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MIR Food UK 2 Ltd
Balance Sheet (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 19 July 2024 , and are signed on behalf of the board by:
Mr M Cagin
Director
Company registration number: 14054665
MIR Food UK 2 Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, London, HA8 5LD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
131,460
78,651
210,111
Additions
12,395
26,560
38,955
---------
--------
--------
---------
At 30 April 2024
143,855
78,651
26,560
249,066
---------
--------
--------
---------
Depreciation
At 1 May 2023
26,292
15,730
42,022
Charge for the year
23,134
12,584
5,312
41,030
---------
--------
--------
---------
At 30 April 2024
49,426
28,314
5,312
83,052
---------
--------
--------
---------
Carrying amount
At 30 April 2024
94,429
50,337
21,248
166,014
---------
--------
--------
---------
At 30 April 2023
105,168
62,921
168,089
---------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
8,197
Other debtors
40,536
45,363
--------
--------
48,733
45,363
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
179,885
229,811
Social security and other taxes
2,617
1,087
Other creditors
8,327
17,483
---------
---------
190,829
248,381
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
306,771
253,520
---------
---------