Registration number:
|
Minety Limited
|
|
|
Minety Limited
Statement of Financial Position as at 31 January 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Minety Limited
Statement of Financial Position as at 31 January 2025
Approved and authorised by the
.........................................
M J Bowles
Director
Company registration number: 02888729
Minety Limited
Notes to the Financial Statements for the Year Ended 31 January 2025
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal activity of the company is that of property investment.
|
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.
|
Staff numbers |
The average number of persons employed by the company during the year was
|
Tangible assets |
|
Leasehold Improvements |
Furniture, fittings and equipment |
Plant and machinery |
Total |
|
|
Cost or valuation |
||||
|
At 1 February 2024 |
|
|
|
|
|
At 31 January 2025 |
|
|
|
|
|
Depreciation |
||||
|
At 1 February 2024 |
|
|
|
|
|
Charge for the year |
- |
|
- |
|
|
At 31 January 2025 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 January 2025 |
|
|
|
|
|
At 31 January 2024 |
|
|
|
|
Minety Limited
Notes to the Financial Statements for the Year Ended 31 January 2025
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 February 2024 and 31 January 2025 |
|
|
Carrying amount |
|
|
At 31 January 2025 |
|
|
At 31 January 2024 |
|
|
Debtors |
|
Note |
2025 |
2024 |
|
|
Amounts owed by group undertakings |
|
|
|
|
Other debtors |
|
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2025 |
2024 |
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
2025 |
2024 |
|
|
Other non-current financial liabilities |
|
|
|
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.