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REGISTERED NUMBER: 11264396 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

MI22 Ltd

MI22 Ltd (Registered number: 11264396)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MI22 Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: I A Oughradar
Masihullah Patel





REGISTERED OFFICE: 364-368 Cranbrook Rd
Gants Hill
Ilford
Essex
IG2 6HY





REGISTERED NUMBER: 11264396 (England and Wales)






MI22 Ltd (Registered number: 11264396)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 818,914 818,914

CURRENT ASSETS
Debtors 5 50,000 50,000
Investments 6 80,000 80,000
Cash at bank 26,528 21,453
156,528 151,453
CREDITORS
Amounts falling due within one year 7 7,314 6,682
NET CURRENT ASSETS 149,214 144,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

968,128

963,685

CREDITORS
Amounts falling due after more than one
year

8

630,228

636,579
NET ASSETS 337,900 327,106

MI22 Ltd (Registered number: 11264396)

Balance Sheet - continued
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 344,637 344,637
Retained earnings (6,837 ) (17,631 )
SHAREHOLDERS' FUNDS 337,900 327,106

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





Masihullah Patel - Director


MI22 Ltd (Registered number: 11264396)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

MI22 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

MI22 Ltd (Registered number: 11264396)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the suture payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 818,914
NET BOOK VALUE
At 31 March 2024 818,914
At 31 March 2023 818,914

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 50,000 50,000

6. CURRENT ASSET INVESTMENTS
31/3/24 31/3/23
£    £   
Unlisted investments 80,000 80,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other creditors 843 -
Directors' current accounts 5,534 4,494
Accrued expenses 937 2,188
7,314 6,682

MI22 Ltd (Registered number: 11264396)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans - 1-2 years 37,029 43,275
Bank loans - 2-5 years 593,199 593,304
630,228 636,579

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Revaluatio
reserve
£   
At 1 April 2023
and 31 March 2024 344,637