2023-04-012024-03-312024-03-31false06730038MICKLE 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MICKLE LTD

Registered Number
06730038
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MICKLE LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

HENRIKSEN, Elisabeth

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

06730038 (England and Wales)
MICKLE LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4429,564430,182
429,564430,182
Current assets
Stocks5-104,500
Debtors6126,1204,710
Cash at bank and on hand10,47084,544
136,590193,754
Creditors amounts falling due within one year7(6,145)(56,650)
Net current assets (liabilities)130,445137,104
Total assets less current liabilities560,009567,286
Creditors amounts falling due after one year8(271,250)(294,132)
Provisions for liabilities9(985)(862)
Accruals and deferred income(600)-
Net assets287,174272,292
Capital and reserves
Called up share capital202202
Share premium123,998123,998
Profit and loss account162,974148,092
Shareholders' funds287,174272,292
The financial statements were approved and authorised for issue by the Director on 19 November 2024, and are signed on its behalf by:
HENRIKSEN, Elisabeth
Director
Registered Company No. 06730038
MICKLE LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year05
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 23427,7106,174433,884
At 31 March 24427,7106,174433,884
Depreciation and impairment
At 01 April 23-3,7023,702
Charge for year-618618
At 31 March 24-4,3204,320
Net book value
At 31 March 24427,7101,854429,564
At 31 March 23427,7102,472430,182
5.Stocks

2024

2023

££
Finished goods-104,500
Total-104,500
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-3,490
Other debtors126,120-
Prepayments and accrued income-1,220
Total126,1204,710
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-33,250
Bank borrowings and overdrafts-1,790
Taxation and social security4,83820,242
Other creditors1,3071,368
Total6,14556,650
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts271,250294,132
Total271,250294,132
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)985862
Total985862
10.Related party transactions
The financial statements contain the following significant transactions and balances with related parties: Wickle Ltd, a company under common control: Turnover £40,000 (2023: £NIL) Current assets: Debtors £126,097 (2023: £NIL)