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REGISTERED NUMBER: 07554364 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

MIST ELECTRONIC CIGARETTES LIMITED

MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MIST ELECTRONIC CIGARETTES LIMITED

Company Information
for the year ended 31 March 2024







DIRECTOR: F J Cassman





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





BUSINESS ADDRESS: Unit 5 Fairway Business Park
Westergate Road
Brighton
East Sussex
BN2 4JZ





REGISTERED NUMBER: 07554364 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,339 7,327
Investments 6 117,922 118,734
124,261 126,061

CURRENT ASSETS
Stocks 98,987 95,314
Debtors 7 33,121 28,352
Cash at bank 113,395 131,322
245,503 254,988
CREDITORS
Amounts falling due within one year 8 (28,000 ) (29,443 )
NET CURRENT ASSETS 217,503 225,545
TOTAL ASSETS LESS CURRENT
LIABILITIES

341,764

351,606

PROVISIONS FOR LIABILITIES 10 (1,195 ) (1,709 )
NET ASSETS 340,569 349,897

CAPITAL AND RESERVES
Called up share capital 11 1 1
Non-distributable reserve 26,475 27,287
Retained earnings 314,093 322,609
SHAREHOLDERS' FUNDS 340,569 349,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 11 October 2024 and were signed by:





F J Cassman - Director


MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Mist Electronic Cigarettes 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Mist Electronic Cigarettes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue comprises the amount receivable from customers for the sale of electronic cigarettes and associated items exclusive of VAT. Revenue is recognised at point of sale.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets held for the Company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life.

Fixtures & fittings - 25% reducing balance

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are made up of electronic cigarettes and associated items.

Financial instruments
Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a pension plan under which the company pays contributions into a separate entity. Once the contributions have been paid, the company has no further obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts owed but not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Investments
Investments are included at fair value as at the balance sheet date with the gain or loss going through the profit and loss account. The annual changes in fair value are cumulatively held within a non-distributable reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 April 2023
and 31 March 2024 6,950
AMORTISATION
At 1 April 2023
and 31 March 2024 6,950
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 20,893
Additions 1,125
At 31 March 2024 22,018
DEPRECIATION
At 1 April 2023 13,566
Charge for year 2,113
At 31 March 2024 15,679
NET BOOK VALUE
At 31 March 2024 6,339
At 31 March 2023 7,327

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 118,734
Revaluations (812 )
At 31 March 2024 117,922
NET BOOK VALUE
At 31 March 2024 117,922
At 31 March 2023 118,734

MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2023 118,734
Valuation in 2024 (812 )
117,922

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 33,121 28,352

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,599 7,401
Taxation and social security 17,178 14,466
Other creditors 6,223 7,576
28,000 29,443

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,750 21,000
Between one and five years 33,750 55,500
55,500 76,500

Operating lease commitments have been calculated based on the company not taking a break clause in September 2024.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,195 1,709

Deferred
tax
£   
Balance at 1 April 2023 1,709
Provided during year (514 )
Balance at 31 March 2024 1,195

MIST ELECTRONIC CIGARETTES LIMITED (REGISTERED NUMBER: 07554364)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1