IRIS Accounts Production v25.2.0.378 12136765 director 1.9.23 31.8.24 31.8.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh121367652023-08-31121367652024-08-31121367652023-09-012024-08-31121367652022-08-31121367652022-09-012023-08-31121367652023-08-3112136765ns15:EnglandWales2023-09-012024-08-3112136765ns14:PoundSterling2023-09-012024-08-3112136765ns10:Director12023-09-012024-08-3112136765ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3112136765ns10:SmallEntities2023-09-012024-08-3112136765ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3112136765ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3112136765ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3112136765ns10:FullAccounts2023-09-012024-08-3112136765ns10:RegisteredOffice2023-09-012024-08-3112136765ns5:CurrentFinancialInstruments2024-08-3112136765ns5:CurrentFinancialInstruments2023-08-3112136765ns5:Non-currentFinancialInstruments2024-08-3112136765ns5:Non-currentFinancialInstruments2023-08-3112136765ns5:FurtherSpecificReserve3ComponentTotalEquity2024-08-3112136765ns5:FurtherSpecificReserve3ComponentTotalEquity2023-08-3112136765ns5:RetainedEarningsAccumulatedLosses2024-08-3112136765ns5:RetainedEarningsAccumulatedLosses2023-08-3112136765ns5:PlantMachinery2023-08-3112136765ns5:PlantMachinery2023-09-012024-08-3112136765ns5:PlantMachinery2024-08-3112136765ns5:PlantMachinery2023-08-3112136765ns5:CostValuation2023-08-3112136765ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3112136765ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3112136765ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-08-3112136765ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-08-3112136765ns5:DeferredTaxation2023-08-3112136765ns5:DeferredTaxation2023-09-012024-08-3112136765ns5:DeferredTaxation2024-08-3112136765ns5:FurtherSpecificReserve3ComponentTotalEquity2023-08-31
REGISTERED NUMBER: 12136765 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

MISHBEC LIMITED

MISHBEC LIMITED (REGISTERED NUMBER: 12136765)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MISHBEC LIMITED

Company Information
for the year ended 31 August 2024







DIRECTOR: P Eraut





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 12136765 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

MISHBEC LIMITED (REGISTERED NUMBER: 12136765)

Balance Sheet
31 August 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 10,321 9,539
Investments 5 100 100
Investment property 6 3,808,360 3,597,473
3,818,781 3,607,112

CURRENT ASSETS
Debtors 7 14,610 15,489
Cash at bank 14,860 1,998
29,470 17,487
CREDITORS
Amounts falling due within one year 8 (716,871 ) (788,168 )
NET CURRENT LIABILITIES (687,401 ) (770,681 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,131,380

2,836,431

CREDITORS
Amounts falling due after more than one
year

9

(2,670,109

)

(2,560,233

)

PROVISIONS FOR LIABILITIES 10 (145,907 ) (110,070 )
NET ASSETS 315,364 166,128

RESERVES
Fair value reserve 11 437,722 323,055
Retained earnings (122,358 ) (156,927 )
315,364 166,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MISHBEC LIMITED (REGISTERED NUMBER: 12136765)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2025 and were signed by:





P Eraut - Director


MISHBEC LIMITED (REGISTERED NUMBER: 12136765)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Mishbec Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates and these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include the valuations of investment properties.

Turnover
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows:

Turnover represents the fair value of consideration received or receivable net of VAT and rental income is recognised on an accruals basis.

Tangible fixed assets
Tangible fixed assets are stated at cost, or deemed cost, [or valuation] less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings-25% on cost
Computer equipment-25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


MISHBEC LIMITED (REGISTERED NUMBER: 12136765)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MISHBEC LIMITED (REGISTERED NUMBER: 12136765)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 September 2023 34,958
Additions 8,243
At 31 August 2024 43,201
DEPRECIATION
At 1 September 2023 25,419
Charge for year 7,461
At 31 August 2024 32,880
NET BOOK VALUE
At 31 August 2024 10,321
At 31 August 2023 9,539

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 September 2023
and 31 August 2024 100
NET BOOK VALUE
At 31 August 2024 100
At 31 August 2023 100

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 September 2023 3,597,473
Additions 57,998
Revaluations 152,889
At 31 August 2024 3,808,360
NET BOOK VALUE
At 31 August 2024 3,808,360
At 31 August 2023 3,597,473

MISHBEC LIMITED (REGISTERED NUMBER: 12136765)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2024 is represented by:
£
Valuation in 2020 2,043,028
Valuation in 2021 780,291
Valuation in 2022 329,681
Valuation in 2023 (25,026 )
Valuation in 2024 152,889
Cost 527,497
3,808,360

Investment properties were valued on an open market basis on 31 August 2024 by 3rd party valuation experts.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 12,160 5,922
Other debtors 2,450 9,567
14,610 15,489

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 5,368 10,536
Amounts owed to group undertakings 9,636 14,915
Other creditors 701,867 762,717
716,871 788,168

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 2,670,109 2,560,233

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,670,109 2,560,233

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 145,907 110,070

MISHBEC LIMITED (REGISTERED NUMBER: 12136765)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 September 2023 110,070
Charge to Income Statement during year 35,837
Balance at 31 August 2024 145,907

11. RESERVES
Fair value
reserve
£
At 1 September 2023 323,055
Transfer to reserves 114,667

At 31 August 2024 437,722