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REGISTERED NUMBER: 08134663 (England and Wales)












MIRATECH EUROPE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






MIRATECH EUROPE LIMITED (REGISTERED NUMBER: 08134663)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MIRATECH EUROPE LIMITED

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTORS: L Trenam
V Larina





REGISTERED OFFICE: Wey Court West
Union Road
FARNHAM
Surrey
GU9 7PT





REGISTERED NUMBER: 08134663 (England and Wales)





AUDITOR: Shaw Gibbs Audit Ltd
264 Banbury Road
Oxford
Oxfordshire
OX2 7DY

MIRATECH EUROPE LIMITED (REGISTERED NUMBER: 08134663)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,391 3,358

CURRENT ASSETS
Debtors 5 773,503 537,952
Cash at bank 246,953 199,875
1,020,456 737,827
CREDITORS
Amounts falling due within one year 6 (731,802 ) (509,142 )
NET CURRENT ASSETS 288,654 228,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

293,045

232,043

CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Retained earnings 8 283,045 222,043
SHAREHOLDERS' FUNDS 293,045 232,043

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 24 April 2025 and were signed on its behalf by:





V Larina - Director


MIRATECH EUROPE LIMITED (REGISTERED NUMBER: 08134663)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Miratech Europe 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 represents the net value of services supplied, excluding value added tax.

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

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.

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.

MIRATECH EUROPE LIMITED (REGISTERED NUMBER: 08134663)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 4,237
Additions 3,368
At 31 July 2024 7,605
DEPRECIATION
At 1 August 2023 879
Charge for year 2,335
At 31 July 2024 3,214
NET BOOK VALUE
At 31 July 2024 4,391
At 31 July 2023 3,358

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 310,770 368,960
Amounts owed by group undertakings 358,034 81,229
Other debtors - 62,160
Prepayments and accrued income 18,543 25,603
687,347 537,952

Amounts falling due after more than one year:
Other debtors 86,156 -

Aggregate amounts 773,503 537,952

Other debtors above comprises loan and accrued interest balances of £86,156 (2023: £51,670) with Miratech AS. The loan is unsecured and denominated in EUR, respectively. During the year, the repayment date of this loan has been extended to May 2026.

MIRATECH EUROPE LIMITED (REGISTERED NUMBER: 08134663)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,370 33,365
Amounts owed to group undertakings 427,380 397,708
Tax 19,548 10,893
Social security and other taxes 35,204 21,616
Other creditors 131,300 1,325
Accrued expenses 84,000 44,235
731,802 509,142

Other creditors above comprises loan and accrued interest balances of £131,300 (2023: £nil) with Miratech Holdings Limited. The loan is unsecured and denominated in USD, respectively.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

8. RESERVES
Retained
earnings
£   

At 1 August 2023 222,043
Profit for the year 61,002
At 31 July 2024 283,045

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Andrew Hodgetts (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs Audit Ltd

10. RELATED PARTY DISCLOSURES

The parent company of the smallest group for which consolidated financial statements are prepared of which the company is a member is Miratech Holdings Limited, a company registered in Cyprus at the following address:
11 Boumboulinas, 1st floor, 1060 Nicosia, Cyprus.