Registered number
10793832
MiPAD Property Limited
CESSATION
Filleted Accounts
21 February 2025
MiPAD Property Limited
Registered number: 10793832
Balance Sheet
as at 21 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 - 21,958
Current assets
Debtors 4 10,628 2,000
Cash at bank and in hand 1,095 3,518
11,723 5,518
Creditors: amounts falling due within one year 5 (5,027) (4,521)
Net current assets 6,696 997
Total assets less current liabilities 6,696 22,955
Creditors: amounts falling due after more than one year 6 - (4,396)
Net assets 6,696 18,559
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,596 18,459
Shareholders' funds 6,696 18,559
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.
Nigel Reece
Director
Approved by the board on 28 May 2025
MiPAD Property Limited
Notes to the Accounts
for the period from 1 April 2024 to 21 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative 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:
Fixtures and fittings 20% 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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Equipment Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 2,200 66,372 68,572
Disposals (2,200) (66,372) (68,572)
At 21 February 2025 - - -
Depreciation
At 1 April 2024 792 45,822 46,614
On disposals (792) (45,822) (46,614)
At 21 February 2025 - - -
Net book value
At 21 February 2025 - - -
At 31 March 2024 1,408 20,550 21,958
4 Debtors 2025 2024
£ £
Other debtors 10,628 2,000
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts - 2,504
Taxation and social security costs 2,368 1,225
Other creditors 2,659 792
5,027 4,521
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans - 4,396
7 Related party transactions
2025 2024
£ £
Alan Bond
Director and shareholder
Amounts owed to/(from) related party 1,000 (1,000)
Nigel Reece
Director and shareholder
Amounts owed to/(from) related party 1,000 (1,000)
8 Controlling party
The ultimate controlling parties are Alan Bond, Sarah Bond, Nigel Reece and Elizabeth Reece, who each own 25% of the company's shareholding.
9 Other information
MiPAD Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
Mill House
Midford Road
Midford
Bath
BA2 7DE
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