IRIS Accounts Production v24.3.0.553 03845964 director 1.4.23 31.3.24 31.3.24 false true false false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038459642023-03-31038459642024-03-31038459642023-04-012024-03-31038459642022-03-31038459642022-04-012023-03-31038459642023-03-3103845964ns15:EnglandWales2023-04-012024-03-3103845964ns14:PoundSterling2023-04-012024-03-3103845964ns10:Director12023-04-012024-03-3103845964ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103845964ns10:SmallEntities2023-04-012024-03-3103845964ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3103845964ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103845964ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103845964ns10:AbridgedAccounts2023-04-012024-03-310384596412023-04-012024-03-3103845964ns10:OrdinaryShareClass12023-04-012024-03-3103845964ns10:RegisteredOffice2023-04-012024-03-3103845964ns5:CurrentFinancialInstruments2024-03-3103845964ns5:CurrentFinancialInstruments2023-03-3103845964ns5:Non-currentFinancialInstruments2024-03-3103845964ns5:Non-currentFinancialInstruments2023-03-3103845964ns5:ShareCapital2024-03-3103845964ns5:ShareCapital2023-03-3103845964ns5:RetainedEarningsAccumulatedLosses2024-03-3103845964ns5:RetainedEarningsAccumulatedLosses2023-03-3103845964ns5:NetGoodwill2023-04-012024-03-3103845964ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-04-012024-03-3103845964ns5:LandBuildingsns5:ShortLeaseholdAssets2023-04-012024-03-3103845964ns5:LeaseholdImprovements2023-04-012024-03-3103845964ns5:PlantMachinery2023-04-012024-03-3103845964ns5:FurnitureFittings2023-04-012024-03-3103845964ns5:MotorVehicles2023-04-012024-03-3103845964ns5:NetGoodwill2023-03-3103845964ns5:NetGoodwill2024-03-3103845964ns5:NetGoodwill2023-03-3103845964ns5:LandBuildings2023-03-3103845964ns5:PlantMachinery2023-03-3103845964ns5:LandBuildings2023-04-012024-03-3103845964ns5:LandBuildings2024-03-3103845964ns5:PlantMachinery2024-03-3103845964ns5:LandBuildings2023-03-3103845964ns5:PlantMachinery2023-03-3103845964ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3103845964ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3103845964ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-03-3103845964ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3103845964ns5:Secured2024-03-3103845964ns5:Secured2023-03-3103845964ns5:DeferredTaxation2023-03-3103845964ns5:DeferredTaxation2023-04-012024-03-3103845964ns5:DeferredTaxation2024-03-3103845964ns10:OrdinaryShareClass12024-03-3103845964ns5:RetainedEarningsAccumulatedLosses2023-03-3103845964ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31038459641ns10:Director12023-03-31038459641ns10:Director12022-03-31038459641ns10:Director12023-04-012024-03-31038459641ns10:Director12022-04-012023-03-31038459641ns10:Director12024-03-31038459641ns10:Director12023-03-31
REGISTERED NUMBER: 03845964 (England and Wales)


Miso Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024






Miso Limited (Registered number: 03845964)






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




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Miso Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: Mr O Remzi





REGISTERED OFFICE: 10 East Street
Bromley
Kent
BR1 1QX





REGISTERED NUMBER: 03845964 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Miso Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Miso Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Miso Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Miso Limited and state those matters that we have agreed to state to the director of Miso Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Miso Limited and its director for our work or for this report.

It is your duty to ensure that Miso Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Miso Limited. You consider that Miso Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Miso Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


14 November 2024

Miso Limited (Registered number: 03845964)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1
Property, plant and equipment 5 985,620 963,642
Investment property 6 1,367,599 1,367,599
2,353,219 2,331,242

CURRENT ASSETS
Inventories 7 23,217 24,956
Debtors 8 932,265 893,103
Cash at bank and in hand 63,734 133,264
1,019,216 1,051,323
CREDITORS
Amounts falling due within one year 9 416,070 448,368
NET CURRENT ASSETS 603,146 602,955
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,956,365

2,934,197

CREDITORS
Amounts falling due after more than one
year

10

(589,024

)

(645,037

)

PROVISIONS FOR LIABILITIES 12 (108,705 ) (93,665 )
NET ASSETS 2,258,636 2,195,495

Miso Limited (Registered number: 03845964)

Statement of Financial Position - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 1,000 1,000
Retained earnings 14 2,257,636 2,194,495
SHAREHOLDERS' FUNDS 2,258,636 2,195,495

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 November 2024 and were signed by:





Mr O Remzi - Director


Miso Limited (Registered number: 03845964)

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

1. STATUTORY INFORMATION

Miso 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 (£).


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

Turnover is generated from the ordinary activities of the business and is recognised when the customer takes delivery of the order.

Goodwill
Director has decided that goodwill should remain unamortised in the balance sheet, as current cost value is only £1 and this considered as immaterial amount to set off directly against reserves or amortised through the profit and loss account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - straight line over the life of the lease
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance

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.

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

Cost is on first in first out basis. Net realisable value is the sales value of the stock less any additional cost to sell.


Miso Limited (Registered number: 03845964)

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 1
Disposals (1 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 1

Miso Limited (Registered number: 03845964)

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

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 617,696 1,273,582 1,891,278
Additions - 139,353 139,353
At 31 March 2024 617,696 1,412,935 2,030,631
DEPRECIATION
At 1 April 2023 181,748 745,888 927,636
Charge for year 10,947 106,428 117,375
At 31 March 2024 192,695 852,316 1,045,011
NET BOOK VALUE
At 31 March 2024 425,001 560,619 985,620
At 31 March 2023 435,948 527,694 963,642

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,367,599
NET BOOK VALUE
At 31 March 2024 1,367,599
At 31 March 2023 1,367,599

Company directors, as required by FRS 102, undertook to remeasure all investment properties to fair values at reporting date. They have assessed the fair values based on the properties of the similar in nature and in the surrounding areas where these properties are located. Based on the information gathered, it was concluded that there were no significant movement in the market price and values to be equal to net book value at balance sheet date.

7. INVENTORIES
2024 2023
£    £   
Stocks 23,217 24,956

Miso Limited (Registered number: 03845964)

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

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 14,487 8,409
Other debtors 664,664 556,247
679,151 564,656

Amounts falling due after more than one year:
Other debtors 253,114 328,447

Aggregate amounts 932,265 893,103

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 93,864 99,676
Hire purchase contracts 6,632 -
Trade creditors 93,046 80,076
Taxation and social security 153,000 231,665
Other creditors 69,528 36,951
416,070 448,368

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 556,986 645,037
Hire purchase contracts 32,038 -
589,024 645,037

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 650,850 744,713

Bank loans are secured on properties 10 East Street Bromley, Kent and 11-13 Petersham Road, Richmond by way of fixed charge to National Westminster Bank plc.

Miso Limited (Registered number: 03845964)

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

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 108,705 93,665

Deferred
tax
£   
Balance at 1 April 2023 93,665
Charge to Income Statement during year 15,040
Balance at 31 March 2024 108,705

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

14. RESERVES
Retained
earnings
£   

At 1 April 2023 2,194,495
Profit for the year 174,141
Dividends (111,000 )
At 31 March 2024 2,257,636

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr O Remzi
Balance outstanding at start of year (77 ) (77 )
Amounts advanced 99,183 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 99,106 (77 )

Miso Limited (Registered number: 03845964)

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

16. RELATED PARTY DISCLOSURES

Transactions with members of key management personnel:

At balance sheet date, company advanced to related party £99,106 (2023:Company owe £77). An interest free loan repayable on demand and presented within debtors' note.

Entities with control, joint control or significant influence over the entity

The amounts due from related parties at balance sheet date £788,114 (2023:£783,114). An interest free loan repayable on demand and presented within debtors' note.