| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| Misuma Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| Misuma Limited |
| Misuma Limited (Registered number: 02965805) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Misuma Limited |
| Company Information |
| for the Year Ended 31 January 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Suite 301, Stanmore Business |
| and Innovation Centre |
| Howard Road |
| Stanmore |
| Middlesex |
| HA7 1FW |
| Misuma Limited (Registered number: 02965805) |
| Statement of Financial Position |
| 31 January 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Investments | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Misuma Limited (Registered number: 02965805) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2025 |
| 1. | STATUTORY INFORMATION |
| Misuma Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 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, modified to show investments at fair value. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Income is recognised when the service is provided. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Investments |
| Cryptocurrency held as investments are shown under the revaluation model and carried at a revalued amount, being the fair value on the date of revaluation less any subsequent accumulated amortisation and subsequent accumulated impairment losses. |
| Increases in market value will be recognised through other comprehensive income and accumulate in a revaluation reserve. This increase would however be recognised in the profit and loss account to the extent that it reverses a revaluation decrease previously recognised in the profit and loss account. |
| Decreases in market value as a result of a revaluation shall be recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity, any excess shall be recognised in the profit and loss account. |
| Going concern |
| Having reviewed the company's financial forecasts and expected future cash flows, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the going concern basis has been adopted in preparing the financial statements for the year ended 31 January 2025. |
| Misuma Limited (Registered number: 02965805) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 5. | CURRENT ASSET INVESTMENTS |
| 2025 | 2024 |
| £ | £ |
| Listed investments | 1,000,000 | 280,000 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| The bank loan was secured by way of a fixed and floating charge over the property that was sold during the year. |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| No description | 422,746 |
| At 31 January 2025 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Included within other debtors is an aggregate amount of £13,099 (2024: £1,232 other creditors) due from the directors M Gershon and S Newton. During the year, aggregate interest of £1,389 (2024: £1,396) was charged by the company at a rate of 2.25% whilst the accounts were overdrawn. |
| There have been no advances which individually were considered material and no other individual advances exceeding £10,000 to each of the directors during the year under review. |
| Misuma Limited (Registered number: 02965805) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2025 |
| 10. | RELATED PARTY DISCLOSURES |
| Included within other debtors due within one year is an amount due from related party Compass Residential Limited of £481,274 (2024: £459,274). This amount has been provided unsecured, interest free and is repayable on demand. |
| Included within other creditors due within one year is an amount due to the former director M P Gershon of £nil (2024: £107,459). This amount has been provided unsecured, interest free and is repayable on demand. |
| Also included within other creditors due within one year are amounts due to related parties Keycroft Finance Limited, Fortmill Finance Limited, Hartmead Finance Limited, Watchtower Finance Limited and Broad Oak Finance Limited of £165,000 (2024: £175,000), £160,000 (2024: £175,000), £55,000 (2024: £55,000), £557,001 (2024: £557,001) and £260,000 (2024: £285,000) respectively. Interest paid to Keycroft Finance Limited, Fortmill Finance Limited, Hartmead Finance Limited and Broad Oak Finance Limited of £6,583 (2024: £6,600), £6,171 (2024: £6,600), £2,155 (2024: £2,000) and £10,583 (2024: £10,959) respectively. No interest was payable on the loan from Watchtower Finance Limited. The loans have been provided unsecured and are repayable on demand. |