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REGISTERED NUMBER: 04920505 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Mikina Engineering Limited

Mikina Engineering Limited (Registered number: 04920505)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mikina Engineering Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B K Howard
M I Dove
Mrs C Howard
Mrs C S Page-Dove





SECRETARIES: Mrs C Howard
Mrs C S Page-Dove





REGISTERED OFFICE: 898 - 902 Wimborne Road
Moordown
Bournemouth
Dorset
BH9 2DW





REGISTERED NUMBER: 04920505 (England and Wales)





ACCOUNTANTS: Stephen Penny and Partners Limited
Chartered Certified Accountants
and Business Advisors
898-902 Wimborne Road
Bournemouth
Dorset
BH9 2DW

Mikina Engineering Limited (Registered number: 04920505)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,500
Tangible assets 5 40,916 55,004
40,916 57,504

CURRENT ASSETS
Stocks 2,700 12,000
Debtors 6 467,323 459,596
Cash at bank and in hand 3,584 21,257
473,607 492,853
CREDITORS
Amounts falling due within one year 7 401,811 469,817
NET CURRENT ASSETS 71,796 23,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,712

80,540

CREDITORS
Amounts falling due after more than
one year

8

(15,346

)

(24,002

)

PROVISIONS FOR LIABILITIES (3,902 ) (4,594 )
NET ASSETS 93,464 51,944

CAPITAL AND RESERVES
Called up share capital 320 320
Retained earnings 93,144 51,624
93,464 51,944

Mikina Engineering Limited (Registered number: 04920505)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





M I Dove - Director


Mikina Engineering Limited (Registered number: 04920505)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mikina Engineering Limited 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

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.


Mikina Engineering Limited (Registered number: 04920505)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 60,000
AMORTISATION
At 1 January 2023 57,500
Charge for year 2,500
At 31 December 2023 60,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 2,500

Mikina Engineering Limited (Registered number: 04920505)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,089,429
Disposals (20,619 )
At 31 December 2023 1,068,810
DEPRECIATION
At 1 January 2023 1,034,425
Charge for year 13,903
Eliminated on disposal (20,434 )
At 31 December 2023 1,027,894
NET BOOK VALUE
At 31 December 2023 40,916
At 31 December 2022 55,004

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.23 31.12.22
£    £   
Trade debtors 185,022 216,575
Amounts recoverable on contract 470 4,000
Other debtors 281,831 239,021
467,323 459,596

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,258 19,029
Trade creditors 58,750 47,278
Taxation and social security 118,715 115,794
Other creditors 214,088 287,716
401,811 469,817

Mikina Engineering Limited (Registered number: 04920505)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 15,346 24,002

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Factored debts 99,452 174,978

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
M I Dove
Balance outstanding at start of year 125,002 105,334
Amounts advanced 24,266 52,418
Amounts repaid (3 ) (32,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 149,265 125,002

B K Howard
Balance outstanding at start of year 91,330 81,986
Amounts advanced 23,623 45,414
Amounts repaid (10,000 ) (36,070 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 104,953 91,330