Registered number
02428667
Mirabow Limited
Unaudited Filleted Accounts
31 March 2024
Mirabow Limited
Registered number: 02428667
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 334,419 334,481
Investments 4 5,883 5,883
340,302 340,364
Current assets
Debtors 5 6,428 6,124
Cash at bank and in hand 17,393 18,942
23,821 25,066
Creditors: amounts falling due within one year 6 (73,743) (92,383)
Net current liabilities (49,922) (67,317)
Net assets 290,380 273,047
Capital and reserves
Called up share capital 61,000 61,000
Profit and loss account 229,380 212,047
Shareholders' funds 290,380 273,047
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Janet Harlow
Director
Approved by the board on 26 September 2024
Mirabow Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Computer equipment 33% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 354,253 23,719 377,972
At 31 March 2024 354,253 23,719 377,972
Depreciation
At 1 April 2023 20,200 23,291 43,491
Charge for the year - 62 62
At 31 March 2024 20,200 23,353 43,553
Net book value
At 31 March 2024 334,053 366 334,419
At 31 March 2023 334,053 428 334,481
4 Investments
Other
investments
£
Cost
At 1 April 2023 5,883
At 31 March 2024 5,883
5 Debtors 2024 2023
£ £
Other debtors 6,428 6,124
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other loans 60,500 45,500
Taxation and social security costs 2,245 3,603
Directors loan account 10,998 43,280
73,743 92,383
7 Other information
Mirabow Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Dingle Road
Alkrington
Middleton
Manchester
M24 1WF
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