Registered number
05268729
Micas Simulations Ltd
Unaudited Filleted Accounts
31 December 2024
Micas Simulations Ltd
Registered number: 05268729
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,060 14,283
Current assets
Debtors 4 84,802 120,698
Cash at bank and in hand 1,155,700 638,048
1,240,502 758,746
Creditors: amounts falling due within one year 5 (634,718) (327,776)
Net current assets 605,784 430,970
Net assets 615,844 445,253
Capital and reserves
Called up share capital 2 2
Profit and loss account 615,842 445,251
Shareholders' funds 615,844 445,253
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr. Nikolay Biba
Director
Approved by the board on 29 April 2025
Micas Simulations Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% reducing balance
Motor vehicles 33% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 31,760 47,558 79,318
Additions 1,177 - 1,177
Disposals (11,407) - (11,407)
At 31 December 2024 21,530 47,558 69,088
Depreciation
At 1 January 2024 18,358 46,677 65,035
Charge for the year 4,305 297 4,602
On disposals (10,609) - (10,609)
At 31 December 2024 12,054 46,974 59,028
Net book value
At 31 December 2024 9,476 584 10,060
At 31 December 2023 13,402 881 14,283
4 Debtors 2024 2023
£ £
Trade debtors 81,720 99,686
Other debtors 3,082 21,012
84,802 120,698
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 572,975 314,961
Corporation tax 50,930 (21)
Other taxes and social security costs 3,534 4,518
Other creditors 7,279 8,318
634,718 327,776
6 Other information
Micas Simulations Ltd is a private company limited by shares and incorporated in England. Its registered office is:
107 Oxford Road (Temple Court)
Cowley
Oxford
Oxfordshire
OX4 2ER
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