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COMPANY REGISTRATION NUMBER: 08633503
Mish Retail Limited
Filleted Unaudited Financial Statements
29 February 2024
Mish Retail Limited
Financial Statements
Year ended 29 February 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Mish Retail Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,244
1,516
Current assets
Stocks
75,785
84,523
Debtors
6
4,617
3,933
Cash at bank and in hand
35,800
63,531
---------
---------
116,202
151,987
Creditors: amounts falling due within one year
7
28,899
49,062
---------
---------
Net current assets
87,303
102,925
--------
---------
Total assets less current liabilities
89,547
104,441
Creditors: amounts falling due after more than one year
8
19,716
17,970
Provisions
Taxation including deferred tax
426
104
--------
---------
Net assets
69,405
86,367
--------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
69,305
86,267
--------
--------
Shareholders funds
69,405
86,367
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mish Retail Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 9 October 2024 , and are signed on behalf of the board by:
Miss M Poynter
Director
Company registration number: 08633503
Mish Retail Limited
Notes to the Financial Statements
Year ended 29 February 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 1 Lamorna Court, 43 Wollaton Road, Beeston, Nottingham, NG9 2NG.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
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:
Leasehold property
-
10% straight line
Fixtures and fittings
-
25% 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.
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 6 (2023: 5 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2023
2,166
7,742
9,908
Additions
1,582
1,582
------
------
--------
At 29 February 2024
2,166
9,324
11,490
------
------
--------
Depreciation
At 1 March 2023
1,865
6,527
8,392
Charge for the year
155
699
854
------
------
--------
At 29 February 2024
2,020
7,226
9,246
------
------
--------
Carrying amount
At 29 February 2024
146
2,098
2,244
------
------
--------
At 28 February 2023
301
1,215
1,516
------
------
--------
6. Debtors
2024
2023
£
£
Other debtors
4,617
3,933
------
------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,946
9,928
Trade creditors
12,261
22,516
Social security and other taxes
7,939
6,013
Other creditors
4,753
10,605
--------
--------
28,899
49,062
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
19,716
17,970
--------
--------