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Registration number: 02888729

Minety Limited

Unaudited Financial Statements

for the Year Ended 31 January 2025

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Minety Limited

Statement of Financial Position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

788

1,046

Investments

5

100

100

 

888

1,146

Current assets

 

Debtors

6

50,355

50,356

Cash at bank and in hand

 

5,748

4,137

 

56,103

54,493

Creditors: Amounts falling due within one year

7

(3,558)

(3,038)

Net current assets

 

52,545

51,455

Total assets less current liabilities

 

53,433

52,601

Creditors: Amounts falling due after more than one year

7

(8,000)

(8,000)

Net assets

 

45,433

44,601

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

44,433

43,601

Shareholders' funds

 

45,433

44,601

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

 

Minety Limited

Statement of Financial Position as at 31 January 2025

Approved and authorised by the Board on 5 June 2025 and signed on its behalf by:
 

.........................................

M J Bowles

Director

Company registration number: 02888729

 

Minety Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of property investment.

2

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 31 January 2025 and had net assets at that date amounting to £45,433, including cash at bank of £5,748.

The company continues to trade profitably with rental income received as due.

Having made enquiries the directors have a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of rental income in the ordinary course of the company's activities stated net of VAT, rebates and discounts.

The company recognises rental income evenly over the period of the leases.

 

Minety Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Leasehold Improvements

10% Straight Line

Furniture, fittings and equipment

25-50% Straight Line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Borrowings are recognised initially at fair value, net of transaction costs incurred.

Borrowings which are due to be settled within twelve months after the balance sheet date are included in current borrowings in the balance sheet even though the original term was for a period longer than twelve months and an agreement to refinance, or to reschedule payments, on a long-term basis is completed after the balance sheet date and before the financial statements are authorised for issue. Other borrowings due to be settled more than twelve months after the balance sheet date are included in non-current borrowings in the balance sheet

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Minety Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year was 2 (2024 - 2).

4

Tangible assets

Leasehold Improvements
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2024

35,612

13,871

5,624

55,107

At 31 January 2025

35,612

13,871

5,624

55,107

Depreciation

At 1 February 2024

35,610

12,831

5,620

54,061

Charge for the year

-

258

-

258

At 31 January 2025

35,610

13,089

5,620

54,319

Carrying amount

At 31 January 2025

2

782

4

788

At 31 January 2024

2

1,040

4

1,046

 

Minety Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

5

Investments

2025
£

2024
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 February 2024 and 31 January 2025

100

Carrying amount

At 31 January 2025

100

At 31 January 2024

100

6

Debtors

Note

2025
£

2024
£

Amounts owed by group undertakings

8

47,063

47,063

Other debtors

 

3,292

3,293

   

50,355

50,356

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Taxation and social security

2,498

2,300

Other creditors

1,060

738

3,558

3,038

Creditors: amounts falling due after more than one year

2025
£

2024
£

Other non-current financial liabilities

8,000

8,000

8

Related party transactions

In accordance with FRS 102 paragraph 1AC.35 exemption has been taken not to disclose transactions in the year or amounts falling due between undertakings that are wholly owned within the group.