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REGISTERED NUMBER: 11345905 (England and Wales)



















MISENUM LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MISENUM LTD (REGISTERED NUMBER: 11345905)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


MISENUM LTD (REGISTERED NUMBER: 11345905)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,708 16,208
Tangible assets 5 181,029 216,863
194,737 233,071

CURRENT ASSETS
Stocks 4,395 5,131
Debtors 6 230,138 158,328
Cash at bank and in hand 65,605 18,408
300,138 181,867
CREDITORS
Amounts falling due within one year 7 144,178 133,540
NET CURRENT ASSETS 155,960 48,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

350,697

281,398

CREDITORS
Amounts falling due after more than one
year

8

(312,500

)

(339,868

)

PROVISIONS FOR LIABILITIES (30,799 ) (36,769 )
NET ASSETS/(LIABILITIES) 7,398 (95,239 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,298 (95,339 )
7,398 (95,239 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





Mr J S Sohal - Director


MISENUM LTD (REGISTERED NUMBER: 11345905)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Misenum Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11345905

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when performance obligations are satisfied and control has transferred to the customer. For goods sold in stores, revenue is recognised at the point of sale.

Intangible assets
Franchise, being the amount paid in connection with the acquisition of each business, is being amortised evenly over its estimated useful life of 10 years.

The economic life is the same as that of the franchise agreement held in intangables.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Improvements to property - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

MISENUM LTD (REGISTERED NUMBER: 11345905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

MISENUM LTD (REGISTERED NUMBER: 11345905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Franchise
£   
COST
At 1 April 2023
and 31 March 2024 25,000
AMORTISATION
At 1 April 2023 8,792
Amortisation for year 2,500
At 31 March 2024 11,292
NET BOOK VALUE
At 31 March 2024 13,708
At 31 March 2023 16,208

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 69,757 49,788 246,928 15,415 381,888
Additions - - - 2,243 2,243
At 31 March 2024 69,757 49,788 246,928 17,658 384,131
DEPRECIATION
At 1 April 2023 29,065 20,694 101,227 14,039 165,025
Charge for year 6,976 4,979 24,693 1,429 38,077
At 31 March 2024 36,041 25,673 125,920 15,468 203,102
NET BOOK VALUE
At 31 March 2024 33,716 24,115 121,008 2,190 181,029
At 31 March 2023 40,692 29,094 145,701 1,376 216,863

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 207,062 137,690
Other debtors 23,076 20,638
230,138 158,328

MISENUM LTD (REGISTERED NUMBER: 11345905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 26,161 38,622
Trade creditors 37,793 29,337
Taxation and social security 22,658 19,489
Other creditors 57,566 46,092
144,178 133,540

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 27,368
Other creditors 312,500 312,500
312,500 339,868

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 60,000 60,000
Between one and five years 240,000 240,000
In more than five years 300,000 360,000
600,000 660,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 26,161 65,990

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Domenico Maurello (Senior Statutory Auditor)
for and on behalf of Keelings Limited

MISENUM LTD (REGISTERED NUMBER: 11345905)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. ULTIMATE CONTROLLING PARTY

Parent Company
ACCA Limited is regarded by the directors as being the immediate parent company.

ACCA Group Limited is regarded by the directors as being the ultimate parent company.

Ultimate Controlling Party
J Sohal and L Sohal jointly control the parent company.

ACCA Group Limited prepares group consolidated financial statements and they can be obtained from the following address:

71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY