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Registered number: 7441921
MIRSEC LTD
Unaudited Financial Statements
For The Year Ended 30 November 2023
Proaccounts UK
Unit M302, 89 Bickersteth Road
Tooting
LONDON
SW17 9SH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 7441921
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,554 3,192
2,554 3,192
CURRENT ASSETS
Stocks 6 18,550 20,830
Debtors 7 4,250 4,250
Cash at bank and in hand 1,752 1,810
24,552 26,890
Creditors: Amounts Falling Due Within One Year 8 (103,098 ) (94,940 )
NET CURRENT ASSETS (LIABILITIES) (78,546 ) (68,050 )
TOTAL ASSETS LESS CURRENT LIABILITIES (75,992 ) (64,858 )
Creditors: Amounts Falling Due After More Than One Year 9 (25,833 ) (35,000 )
NET LIABILITIES (101,825 ) (99,858 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (101,925 ) (99,958 )
SHAREHOLDERS' FUNDS (101,825) (99,858)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A TARIKAS
Director
18/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MIRSEC LTD is a private company, limited by shares, incorporated in England & Wales, registered number 7441921 . The registered office is 23 RUSHEY GREEN, LONDON, SE6 4AS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are franchise costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Sales, marketing and distribution 1 1
1 1
4. Intangible Assets
Other
£
Cost
As at 1 December 2022 10,000
As at 30 November 2023 10,000
Amortisation
As at 1 December 2022 10,000
As at 30 November 2023 10,000
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
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Page 4
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 44,400
As at 30 November 2023 44,400
Depreciation
As at 1 December 2022 41,208
Provided during the period 638
As at 30 November 2023 41,846
Net Book Value
As at 30 November 2023 2,554
As at 1 December 2022 3,192
6. Stocks
2023 2022
£ £
Finished goods 18,550 20,830
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 4,250 4,250
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 68,800 68,800
Accruals and deferred income 600 500
Director's loan account 33,698 25,640
103,098 94,940
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,833 35,000
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of his ownership of 100% of the issued share capital in the company.
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