MIYAKI LOUNGE LIMITED

Company Registration Number:
08673465 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2024

Period of accounts

Start date: 01 October 2023

End date: 30 September 2024

MIYAKI LOUNGE LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2024

Balance sheet
Notes

MIYAKI LOUNGE LIMITED

Balance sheet

As at 30 September 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 0 1,550
Total fixed assets: 0 1,550
Current assets
Stocks: 43,587 37,856
Debtors: 4 1,800 225
Cash at bank and in hand: 255 0
Total current assets: 45,642 38,081
Creditors: amounts falling due within one year: 5 (20,421) (981)
Net current assets (liabilities): 25,221 37,100
Total assets less current liabilities: 25,221 38,650
Creditors: amounts falling due after more than one year: 6 (42,971) (38,550)
Total net assets (liabilities): (17,750) 100
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (17,850) 0
Shareholders funds: (17,750) 100

The notes form part of these financial statements

MIYAKI LOUNGE LIMITED

Balance sheet statements

For the year ending 30 September 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 June 2025
and signed on behalf of the board by:

Name: Julius Ephi
Status: Director

The notes form part of these financial statements

MIYAKI LOUNGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Other accounting policies

MIYAKI Lounge LIMITED hereinafter referred to as the company is registered with companies house with registration no 08673465 with EPHI, Julius Onyeka as the sole director. The company sells drinks and food to the public through its director and employees to its customers. The financial statement has been prepared under the historical cost convention and in accordance with the financial Reporting Standard for Smaller Entities (effective January 2016)

MIYAKI LOUNGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

This is the amount paid to the employees during the period reported. Most of the Employees are on flexible zero hours and works as when required.

MIYAKI LOUNGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible Assets

Total
Cost £
At 01 October 2023 3,811
Disposals (377)
At 30 September 2024 3,434
Depreciation
At 01 October 2023 2,261
Charge for year 475
Other adjustments 698
At 30 September 2024 3,434
Net book value
At 30 September 2024 0
At 30 September 2023 1,550

This is the figures for the reporting period. Property, plant and equipment (PPE) are the long-term tangible assets that are shown on the balance sheet of the company. The company recognizes an asset as an item of PPE when the asset has a useful life for more than one year and it is used for production or supply of goods or services, for rental to others, or for administrative purposes. Property, plant and equipment include land, building, machinery, vehicles, office equipment and furniture, etc. The company records an item of property, plant and equipment initially at its cost in the accounting record. It includes all costs that necessary to bring the asset to the working condition that it can be used as intended. The cost of an item of PPE includes purchased price, import duties, and the costs to get assets to the location and condition ready to use such as transportation and installation cost, etc

MIYAKI LOUNGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 1,800 225

This has already been deducted from the directors wages before arriving at the current wage. 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 the amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

MIYAKI LOUNGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Creditors: amounts falling due within one year note

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.

MIYAKI LOUNGE LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2024

6. Creditors: amounts falling due after more than one year note

The business took a bounce back loan to finance the ordinary activities of the business due to the covid-19 Pandemic which impacted the business. The Director has made arrangement to start repaying the loan. 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.