REGISTERED NUMBER: |
Cessation Financial Statements |
for the Period 1st June 2024 to 2nd March 2025 |
for |
MICHAELS EXPRESS LIMITED |
REGISTERED NUMBER: |
Cessation Financial Statements |
for the Period 1st June 2024 to 2nd March 2025 |
for |
MICHAELS EXPRESS LIMITED |
MICHAELS EXPRESS LIMITED (Registered number: 08074146) |
Contents of the Financial Statements |
for the Period 1st June 2024 to 2nd March 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MICHAELS EXPRESS LIMITED |
Company Information |
for the Period 1st June 2024 to 2nd March 2025 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
732 Walsall Road |
Great Barr |
Birmingham |
West Midlands |
B42 1EX |
MICHAELS EXPRESS LIMITED (Registered number: 08074146) |
Balance Sheet |
2nd March 2025 |
2.3.25 | 31.5.24 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
MICHAELS EXPRESS LIMITED (Registered number: 08074146) |
Balance Sheet - continued |
2nd March 2025 |
The financial statements were approved by the director and authorised for issue on |
MICHAELS EXPRESS LIMITED (Registered number: 08074146) |
Notes to the Financial Statements |
for the Period 1st June 2024 to 2nd March 2025 |
1. | STATUTORY INFORMATION |
MICHAELS EXPRESS LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
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 |
Fixtures and fittings 15% pa |
Stocks |
Inventories 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 period 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 period 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. |
MICHAELS EXPRESS LIMITED (Registered number: 08074146) |
Notes to the Financial Statements - continued |
for the Period 1st June 2024 to 2nd March 2025 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st June 2024 |
Disposals | ( |
) |
At 2nd March 2025 |
NET BOOK VALUE |
At 2nd March 2025 |
At 31st May 2024 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1st June 2024 |
Disposals | ( |
) | ( |
) |
At 2nd March 2025 |
DEPRECIATION |
At 1st June 2024 |
Eliminated on disposal | ( |
) | ( |
) |
At 2nd March 2025 |
NET BOOK VALUE |
At 2nd March 2025 |
At 31st May 2024 |
6. | INVENTORIES |
2.3.25 | 31.5.24 |
£ | £ |
Stocks |
MICHAELS EXPRESS LIMITED (Registered number: 08074146) |
Notes to the Financial Statements - continued |
for the Period 1st June 2024 to 2nd March 2025 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2.3.25 | 31.5.24 |
£ | £ |
Trade debtors |
Prepayments (rent) | - | 4,810 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2.3.25 | 31.5.24 |
£ | £ |
Bank loans and overdrafts (see note 10) |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 49,436 | 82,244 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2.3.25 | 31.5.24 |
£ | £ |
Other loans (see note 10) |
10. | LOANS |
An analysis of the maturity of loans is given below: |
2.3.25 | 31.5.24 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Amounts falling due between one and two years: |
Other loans - 1-2 years | - |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2.3.25 | 31.5.24 |
value: | £ | £ |
ordinary share capital | £1 | 1 | 1 |
1 ordinary share capital share of £1 was allotted and fully paid for |
MICHAELS EXPRESS LIMITED (Registered number: 08074146) |
Notes to the Financial Statements - continued |
for the Period 1st June 2024 to 2nd March 2025 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1st June 2024 |
Deficit for the period | ( |
) |
At 2nd March 2025 |