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Registration number: 11148603

MINLOB Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

MINLOB Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

MINLOB Ltd

Company Information

Directors

Mrs Siobhan Siddy

Mr Martin Brian Siddy

Registered office

102 Fulham Palace Road
London
Greater London
W6 9PL

Accountants

Michaelides Warner & Co 102 Fulham Palace Road
London
W6 9PL

 

MINLOB Ltd

(Registration number: 11148603)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,621

-

Current assets

 

Debtors

5

364,000

532,000

Cash at bank and in hand

 

-

280

 

364,000

532,280

Creditors: Amounts falling due within one year

6

(361,399)

(527,875)

Net current assets

 

2,601

4,405

Total assets less current liabilities

 

5,222

4,405

Creditors: Amounts falling due after more than one year

6

(5,367)

(6,316)

Net liabilities

 

(145)

(1,911)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(245)

(2,011)

Shareholders' deficit

 

(145)

(1,911)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

 

MINLOB Ltd

(Registration number: 11148603)
Balance Sheet as at 31 January 2024

.........................................
Mr Martin Brian Siddy
Director

 

MINLOB Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
102 Fulham Palace Road
London
Greater London
W6 9PL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

MINLOB Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

MINLOB Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

 

MINLOB Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,995

2,995

At 31 January 2024

2,995

2,995

Depreciation

Charge for the year

374

374

At 31 January 2024

374

374

Carrying amount

At 31 January 2024

2,621

2,621

5

Debtors

Current

2024
£

2023
£

Other debtors

364,000

532,000

 

364,000

532,000

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,116

1,116

Trade creditors

 

97

325

Accruals and deferred income

 

800

800

Other creditors

 

359,386

525,634

 

361,399

527,875

 

MINLOB Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

5,367

6,316

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Odinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,367

6,316

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,116

1,116

 

MINLOB Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Related party transactions

Other Creditors due under one year include amounts owed to the directors of £1,003.

Transactions with directors

2024

At 1 February 2023
£

Other payments made to company by director
£

At 31 January 2024
£

Mrs Siobhan Siddy

Amounts owed from / (to) the Director

(1,342)

(4,209)

(5,551)

Mr Martin Brian Siddy

Amounts owed from / (to) the Director

(1,342)

(4,209)

(5,551)

2023

At 1 February 2022
£

Repayments by director
£

At 31 January 2023
£

Mrs Siobhan Siddy

Amounts owed from / (to) the Director

(802)

(540)

(1,342)

Mr Martin Brian Siddy

Amounts owed from / (to) the Director

(802)

(540)

(1,342)

Summary of transactions with other related parties

Matin Siddy Ltd - related party by common control Included within Other Creditors is a balance of £348,284 (2023 £522,951) representing amounts due to Martin Siddy Ltd.