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REGISTERED NUMBER: 10592640 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Mialily Limited

Mialily Limited (Registered number: 10592640)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mialily Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: B Gillibrand





REGISTERED OFFICE: 1 Beech Grove
Leigh
WN7 3LW





REGISTERED NUMBER: 10592640 (England and Wales)





ACCOUNTANTS: Haywoods
Kevan Pilling House
1 Myrtle Street
Bolton
Lancashire
BL1 3AH

Mialily Limited (Registered number: 10592640)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 886,400 337,681

CURRENT ASSETS
Cash at bank 7,463 21,333

CREDITORS
Amounts falling due within one year 5 241,241 103,969
NET CURRENT LIABILITIES (233,778 ) (82,636 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,622

255,045

CREDITORS
Amounts falling due after more than one
year

6

(437,908

)

(232,856

)

PROVISIONS FOR LIABILITIES (51,205 ) -
NET ASSETS 163,509 22,189

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 153,614 -
Retained earnings 9,795 22,089
163,509 22,189

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Mialily Limited (Registered number: 10592640)

Balance Sheet - continued
31 January 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 28 October 2024 and were signed by:





B Gillibrand - Director


Mialily Limited (Registered number: 10592640)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Mialily 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. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Mialily Limited (Registered number: 10592640)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 337,681
Additions 343,900
Revaluations 204,819
At 31 January 2024 886,400
NET BOOK VALUE
At 31 January 2024 886,400
At 31 January 2023 337,681

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 204,819
Cost 681,581
886,400

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 3,146
Other creditors 241,241 100,823
241,241 103,969

Creditors include mortgages of £12,365 which are secured against the properties to which they relate

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 18,667 26,667
Other creditors 419,241 206,189
437,908 232,856

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 418,341 205,289

Creditors include mortgages of £418,341 which are secured against the properties to which they relate

Mialily Limited (Registered number: 10592640)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. RESERVES
Fair
value
reserve
£   
Reserve transfer 153,614

At 31 January 2024 153,614