Miami Beach (Sutton On Sea) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00673672 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MIAMI BEACH (SUTTON ON SEA) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J A Bailey

Mr G J Bailey

Mr S J Richardson

REGISTERED OFFICE:

63 Queen's Road

Cowes

Isle of Wight

PO31 8BW

REGISTERED NUMBER:

00673672 (England and Wales)

ACCOUNTANTS:

Mackenzies, a Xeinadin company

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

FIXED ASSETS

Tangible assets

4

1,130,000

530,001

CURRENT ASSETS

Debtors

5

431,257

381,137

Cash at bank

131,384

93,877

562,641

475,014

CREDITORS

Amounts falling due within one year

6

52,992

38,905

NET CURRENT ASSETS

509,649

436,109

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,639,649

966,110

PROVISIONS FOR LIABILITIES

7

46,183

-

NET ASSETS

1,593,466

966,110

CAPITAL AND RESERVES

Called up share capital

8

20,000

Share premium

9

293

Revaluation reserve

9

1,042,233

488,415

Retained earnings

9

530,940

457,402

SHAREHOLDERS' FUNDS

1,593,466

966,110

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

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

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 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 Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

Mr S J Richardson - Director

Mrs J A Bailey - Director

1.	STATUTORY INFORMATION

Miami Beach (Sutton On Sea) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

COST OR VALUATION

At 1 January 2024

530,000

3,307

533,307

Revaluations

600,000

-

600,000

At 31 December 2024

1,130,000

3,307

1,133,307

DEPRECIATION

At 1 January 2024

-

3,306

Charge for year

-

1

At 31 December 2024

-

3,307

NET BOOK VALUE

At 31 December 2024

1,130,000

-

1,130,000

At 31 December 2023

530,000

1

530,001

Cost or valuation at 31 December 2024 is represented by:

Freehold

Plant and

property

machinery

Totals

£

Valuation in 2024

1,130,000

-

1,130,000

Cost

-

3,307

1,130,000

3,307

1,133,307

The freehold land and development was valued as at 31st December 2024 by the directors to be £1,130,000, being the estimated amount for which an asset should exchange on the date of valuation between a buyer and seller in an arm's length transaction.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by group undertakings

276,693

267,245

Other debtors

7,218

10,912

Directors' current accounts

147,346

102,980

431,257

381,137

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

-

14,650

Tax

29,819

17,946

Other creditors

18,707

6,309

Accrued expenses

4,466

-

52,992

38,905

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

46,183

-

Deferred tax

£

Provided during year

46,183

Balance at 31 December 2024

46,183

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

20,000

Ordinary share

1

20,000

9.

RESERVES

Retained

Share

Revaluation

earnings

premium

reserve

Totals

£

At 1 January 2024

457,402

293

488,415

946,110

Profit for the year

103,538

Dividends

(30,000

)

(30,000

)

Revaluation

-

600,001

Deferred tax

-

(46,183

)

(46,183

)

At 31 December 2024

530,940

293

1,042,233

1,573,466