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Company Registration No. 11012637 (England and Wales)
Mibex Ltd Unaudited accounts for the year ended 31 January 2024
Mibex Ltd Unaudited accounts Contents
Page
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Mibex Ltd Company Information for the year ended 31 January 2024
Directors
Rebecca Buchan Michael Buchan
Company Number
11012637 (England and Wales)
Registered Office
1 Chishillways Barrasford Hexham Northumberland NE48 4AE England
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Mibex Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
373,924 
117,000 
Current assets
Debtors
1 
3,643 
Cash at bank and in hand
151,337 
84,029 
151,338 
87,672 
Creditors: amounts falling due within one year
(146,447)
(23,753)
Net current assets
4,891 
63,919 
Total assets less current liabilities
378,815 
180,919 
Creditors: amounts falling due after more than one year
(13,094)
- 
Net assets
365,721 
180,919 
Capital and reserves
Profit and loss account
365,721 
180,919 
Shareholders' funds
365,721 
180,919 
For the year ending 31 January 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Rebecca Buchan Director Company Registration No. 11012637
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Mibex Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Mibex Ltd is a private company, limited by shares, registered in England and Wales, registration number 11012637. The registered office is 1 Chishillways, Barrasford, Hexham, Northumberland, NE48 4AE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
N/A
Plant & machinery
25%
Motor vehicles
25%
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2023
- 
150,000 
9,770 
- 
159,770 
Additions
290,000 
- 
10,400 
364 
300,764 
At 31 January 2024
290,000 
150,000 
20,170 
364 
460,534 
Depreciation
At 1 February 2023
- 
37,500 
5,270 
- 
42,770 
Charge for the year
- 
37,500 
6,304 
36 
43,840 
At 31 January 2024
- 
75,000 
11,574 
36 
86,610 
Net book value
At 31 January 2024
290,000 
75,000 
8,596 
328 
373,924 
At 31 January 2023
- 
112,500 
4,500 
- 
117,000 
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Mibex Ltd Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
3,643 
Trade debtors
1 
- 
1 
3,643 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
52,047 
- 
Taxes and social security
94,400 
22,659 
Other creditors
- 
1,094 
146,447 
23,753 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
13,094 
- 
8
Average number of employees
During the year the average number of employees was 8 (2023: 14).
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