Silverfin false false 31/12/2024 01/01/2024 31/12/2024 J M Leonard 17/01/2013 A A Missri 17/01/2013 Y A Missri 17/01/2013 A B Missri 17/01/2013 28 July 2025 The principal activity of the Company is that of property development. 08364594 2024-12-31 08364594 bus:Director1 2024-12-31 08364594 bus:Director2 2024-12-31 08364594 bus:Director3 2024-12-31 08364594 bus:Director4 2024-12-31 08364594 2023-12-31 08364594 core:CurrentFinancialInstruments 2024-12-31 08364594 core:CurrentFinancialInstruments 2023-12-31 08364594 core:ShareCapital 2024-12-31 08364594 core:ShareCapital 2023-12-31 08364594 core:RetainedEarningsAccumulatedLosses 2024-12-31 08364594 core:RetainedEarningsAccumulatedLosses 2023-12-31 08364594 core:CurrentFinancialInstruments core:Secured 2024-12-31 08364594 bus:OrdinaryShareClass1 2024-12-31 08364594 bus:OrdinaryShareClass2 2024-12-31 08364594 bus:OrdinaryShareClass3 2024-12-31 08364594 bus:OrdinaryShareClass4 2024-12-31 08364594 bus:OrdinaryShareClass5 2024-12-31 08364594 bus:OtherShareClass1 2024-12-31 08364594 2024-01-01 2024-12-31 08364594 bus:FilletedAccounts 2024-01-01 2024-12-31 08364594 bus:SmallEntities 2024-01-01 2024-12-31 08364594 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08364594 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08364594 bus:Director1 2024-01-01 2024-12-31 08364594 bus:Director2 2024-01-01 2024-12-31 08364594 bus:Director3 2024-01-01 2024-12-31 08364594 bus:Director4 2024-01-01 2024-12-31 08364594 2023-01-01 2023-12-31 08364594 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 08364594 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 08364594 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08364594 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 08364594 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 08364594 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 08364594 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 08364594 bus:OrdinaryShareClass4 2024-01-01 2024-12-31 08364594 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 08364594 bus:OrdinaryShareClass5 2024-01-01 2024-12-31 08364594 bus:OrdinaryShareClass5 2023-01-01 2023-12-31 08364594 bus:OtherShareClass1 2024-01-01 2024-12-31 08364594 bus:OtherShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08364594 (England and Wales)

MIZMO INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

MIZMO INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

MIZMO INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
MIZMO INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Current assets
Stocks 3 13,051,554 13,896,578
Debtors 4 434,596 219,733
Cash at bank and in hand 267,851 283,687
13,754,001 14,399,998
Creditors: amounts falling due within one year 5 ( 11,941,101) ( 11,958,451)
Net current assets 1,812,900 2,441,547
Total assets less current liabilities 1,812,900 2,441,547
Net assets 1,812,900 2,441,547
Capital and reserves
Called-up share capital 6 401 401
Profit and loss account 1,812,499 2,441,146
Total shareholders' funds 1,812,900 2,441,547

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Mizmo Investments Limited (registered number: 08364594) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A B Missri
Director

28 July 2025

MIZMO INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
MIZMO INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mizmo Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Income and Retained Earnings.

Turnover

Turnover comprises revenue on the sale of properties. Revenue is recognised when there is an unconditional exchange during the accounting period.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost includes all direct costs associated with the purchase and subsequent improvement of properties. The purchase of properties is recognised within the accounts on unconditional exchange.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractualobligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 4

3. Stocks

2024 2023
£ £
Stocks 13,051,554 13,896,578

4. Debtors

2024 2023
£ £
Prepayments and accrued income 63,802 13,933
Corporation tax 0 30,148
Other debtors 370,794 175,652
434,596 219,733

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts (secured) 11,531,000 11,217,041
Accruals and deferred income 201,530 156,277
Other creditors 208,571 585,133
11,941,101 11,958,451

Within bank loans and overdrafts, there are bank loans of £11,531,000 (2023: £11,211,000) which are secured over the properties held within stock and are repayable at the end of their fixed terms.

The directors have given personal guarantees over the interest payable on these bank loans.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00 1 1
80 Ordinary B shares of £ 1.00 each 80 80
80 Ordinary C shares of £ 1.00 each 80 80
80 Ordinary D shares of £ 1.00 each 80 80
80 Ordinary E shares of £ 1.00 each 80 80
80 Ordinary F shares of £ 1.00 each 80 80
401 401

7. Related party transactions

Included within other debtors is a loan of £342,642 due from a company with a shared director. This balance is secured, interest charged at the Base Rate and the loan is repayable by 30 June 2025. At the previous year end date of 31 December 2023, there was a balance due from that company of £151,000 which was unsecured and interest free, with no fixed repayment terms.

Also included within other debtors is a balance of £4,509 (2023: £4,509) due from another company with shared directors. This balance is unsecured and interest free, with no fixed repayment terms.