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Company registration number: 08303784
Miroma Ventures Ltd
Unaudited filleted financial statements
30 June 2024
Miroma Ventures Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Miroma Ventures Ltd
Directors and other information
Directors M Boyan
P Summers
Company number 08303784
Registered office Elsley Court
20-22 Great Titchfield Street
London
W1W 8BE
Miroma Ventures Ltd
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - 25,625
_______ _______
- 25,625
Current assets
Debtors 6 122,748 119,508
Cash at bank and in hand 77,296 1,304
_______ _______
200,044 120,812
Creditors: amounts falling due
within one year 7 ( 1,217,017) ( 1,224,497)
_______ _______
Net current liabilities ( 1,016,973) ( 1,103,685)
_______ _______
Total assets less current liabilities ( 1,016,973) ( 1,078,060)
_______ _______
Net liabilities ( 1,016,973) ( 1,078,060)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 1,017,073) ( 1,078,160)
_______ _______
Shareholders deficit ( 1,016,973) ( 1,078,060)
_______ _______
For the year ending 30 June 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 January 2025 , and are signed on behalf of the board by:
P Summers
Director
Company registration number: 08303784
Miroma Ventures Ltd
Statement of changes in equity
Year ended 30 June 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2022 100 ( 1,123,956) ( 1,123,856)
Profit for the year 45,796 45,796
_______ _______ _______
Total comprehensive income for the year - 45,796 45,796
_______ _______ _______
At 30 June 2023 and 1 July 2023 100 ( 1,078,160) ( 1,078,060)
Profit for the year 61,087 61,087
_______ _______ _______
Total comprehensive income for the year - 61,087 61,087
_______ _______ _______
At 30 June 2024 100 ( 1,017,073) ( 1,016,973)
_______ _______ _______
Miroma Ventures Ltd
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The major part of the company's capital requirements are provided by a loan from Miroma International Ltd, a company controlled by Mr M Boyan and which is repayable on demand. The Directors of that company have indicated that they will not demand repayment; however no formal agreement is in place.The directors, having considered the above and made due enquiries, continue to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover represents gross invoiced sales of services, less value added tax, which are recognised when the services are provided
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development Costs - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 July 2023 and 30 June 2024 158,125 158,125
_______ _______
Amortisation
At 1 July 2023 132,500 132,500
Charge for the year 25,625 25,625
_______ _______
At 30 June 2024 158,125 158,125
_______ _______
Carrying amount
At 30 June 2024 - -
_______ _______
At 30 June 2023 25,625 25,625
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 122,748 119,508
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors - 13,548
Amounts owed to group undertakings and undertakings in which the company has a participating interest 963,949 1,053,981
Social security and other taxes - 3,900
Other creditors 253,068 153,068
_______ _______
1,217,017 1,224,497
_______ _______
8. Related party transactions
Mr M Boyan - -
In the Loop Ltd
- -
The Company has received loans from Entities controlled by the Director, Mr Boyan. These loans do not carry interest and have no fixed repayment date.
9. Controlling party
The Company is ultimately controlled by a Director, Mr Marc Boyan.