REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
FOR |
MICROBE INVESTMENTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
FOR |
MICROBE INVESTMENTS LTD |
MICROBE INVESTMENTS LTD (REGISTERED NUMBER: 09607338) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Statement of Financial Position | 3 | to | 4 |
Notes to the Financial Statements | 5 | to | 8 |
MICROBE INVESTMENTS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
First Floor North |
40 Oxford Road |
High Wycombe |
Buckinghamshire |
HP11 2EE |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MICROBE INVESTMENTS LTD |
The following reproduces the text of the report prepared for the directors 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 Income Statement and certain other primary statements and the Report of the Directors 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 Microbe Investments Ltd for the period ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Board of Directors of Microbe Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Microbe Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Microbe Investments Ltd, as a body, 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 Microbe Investments Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Microbe Investments Ltd 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 Microbe Investments Ltd. You consider that Microbe Investments Ltd is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Microbe Investments Ltd. 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. |
First Floor North |
40 Oxford Road |
High Wycombe |
Buckinghamshire |
HP11 2EE |
MICROBE INVESTMENTS LTD (REGISTERED NUMBER: 09607338) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
MICROBE INVESTMENTS LTD (REGISTERED NUMBER: 09607338) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MICROBE INVESTMENTS LTD (REGISTERED NUMBER: 09607338) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Microbe Investments Limited s a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is Tithe Barn, Church Farm, Valley Road, High Wycombe, Buckinghamshire, HP14 4LB. The registered number is 09607338. |
The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
The accounting period has been extended from 30 September 2023 to 31 March 2024, to align with the accounting period of Microbe Partners, a related party. The comparatives are therefore not directly comparable. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the statement of financial position date the company had net current assets of £23,663 (2022: net current liabilities of £9,329) and total net liabilities amounting to £116,337 (2022: £135,390), the company's principal creditor is its directors. Based on information available at the date of approval and the director's confirmation of continued support, the company continues to adopt the going concern basis in preparing these financial statements. |
As noted in the related party disclosure (Note 9), the companies trading activities changed during the year and the directors are considering future opportunities. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
The company assesses at each reporting date whether tangible fixed assets are impaired. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimate useful life: |
Plant and machinery - straight line - 10 years |
Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits. |
MICROBE INVESTMENTS LTD (REGISTERED NUMBER: 09607338) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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. |
Financial instruments |
The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements. |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
MICROBE INVESTMENTS LTD (REGISTERED NUMBER: 09607338) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2022 |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 October 2022 |
Eliminated on disposal | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
MICROBE INVESTMENTS LTD (REGISTERED NUMBER: 09607338) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MARCH 2024 |
9. | RELATED PARTY DISCLOSURES |
The company paid rent of £nil (2022: £50,000) during the period to the directors, Mr and Mrs Jennings. |
Included in other creditors is £151,863 (2022: £173,772) owed to the directors. This includes a long-term loan of £140,000 (2022: £140,000), repayment of which is not due within the foreseeable future. The total loan is interest free. |
With effect from 1 October 2022 (first day of the reporting period), the furnished holiday lettings business has been transferred to Microbe Partners, a partnership owned by Mr and Mrs Jennings. The company has provided consultancy services to Microbe Partners during the period in respect of this trade. |