Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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39,677 | 17,999 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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138,634 | 87,340 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets/(liabilities) | 71,404 | (49,556) | ||
Total assets less current liabilities | 111,081 | (31,557) | ||
Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds/(deficit) |
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Director's responsibilities:
The financial statements of Mikare Ltd (registered number:
M Lake
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Mikare Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Leasehold improvements |
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Plant and machinery |
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Fixtures and fittings |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Leasehold improve- ments |
Plant and machinery | Fixtures and fittings | Total | ||||
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Cost | |||||||
At 01 September 2023 |
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Additions |
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At 31 August 2024 |
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Accumulated depreciation | |||||||
At 01 September 2023 |
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Charge for the financial year |
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At 31 August 2024 |
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Net book value | |||||||
At 31 August 2024 |
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At 31 August 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Taxation and social security |
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Other creditors |
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Transactions with the entity's director
The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 September 2022 the balance was nil. During the year £9,647 was advanced to the director, and £21,896 was repaid by the director. The balance at 31 August 2023 was £12,249 in credit.
At 1 September 2023 the balance was £12,249 in credit. During the year £31,694 was advanced to the director, and £15,312 was repaid by the director. The balance at 31 August 2024 was £4,133 overdrawn.