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Registered number: 08937808
Misititomi Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Zenith Accounting & Business Solutions Ltd
Certified Accountants
DFO Consulting - Churchill House
120 Bunns Lane
Mill Hill
London
NW7 2AS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08937808
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,051 4,381
4,051 4,381
CURRENT ASSETS
Debtors 5 10,560 12,600
Cash at bank and in hand 11,715 8,242
22,275 20,842
Creditors: Amounts Falling Due Within One Year 6 (19,041 ) (11,346 )
NET CURRENT ASSETS (LIABILITIES) 3,234 9,496
TOTAL ASSETS LESS CURRENT LIABILITIES 7,285 13,877
NET ASSETS 7,285 13,877
CAPITAL AND RESERVES
Called up share capital 7 10 10
Profit and Loss Account 7,275 13,867
SHAREHOLDERS' FUNDS 7,285 13,877
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Ms Olabisi Bada
Director
31 January 2025
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
Misititomi Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08937808 . The registered office is 6 Tangmere Way, London, NW9 5WW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 25% straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 6,353
Additions 1,678
As at 31 March 2024 8,031
...CONTINUED
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Depreciation
As at 1 April 2023 1,972
Provided during the period 2,008
As at 31 March 2024 3,980
Net Book Value
As at 31 March 2024 4,051
As at 1 April 2023 4,381
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,560 12,600
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 7,487 5,703
VAT 11,554 5,643
19,041 11,346
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 4