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REGISTERED NUMBER: 13014621 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

MICHELINS TRADING LIMITED

MICHELINS TRADING LIMITED (REGISTERED NUMBER: 13014621) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 OCTOBER 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| MICHELINS TRADING LIMITED |

COMPANY INFORMATION

for the Year Ended 31 OCTOBER 2024

| DIRECTORS: | W R Phipps

| L C Phipps

| Ms J Phipps

| Miss F Phipps

| REGISTERED OFFICE: | 88 North Street

| Hornchurch

| Essex

| RM11 1SR

| REGISTERED NUMBER: | 13014621 (England and Wales)

MICHELINS TRADING LIMITED (REGISTERED NUMBER: 13014621) |

BALANCE SHEET

31 OCTOBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 571,190 |  | 306,686 |  |

CURRENT ASSETS

Debtors | 5 | 1 |  | 1 |  |

CREDITORS

Amounts falling due within one year | 6 | 321,118 |  | 255,913 |  |

NET CURRENT LIABILITIES | (321,117 | ) | (255,912 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 250,073 |  | 50,774 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 250,072 |  | 50,773 |  |

250,073 |  | 50,774 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 30 July 2025 and were signed on its behalf by:

W R Phipps - Director

MICHELINS TRADING LIMITED (REGISTERED NUMBER: 13014621) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 OCTOBER 2024

1. | STATUTORY INFORMATION

| Michelins Trading 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.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Investments are being amortised evenly over their estimated useful life of nil years.

| 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. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST OR VALUATION

| At 1 November 2023 | 306,686 |  |

| Revaluations | 264,504 |  |

| At 31 October 2024 | 571,190 |  |

| NET BOOK VALUE

| At 31 October 2024 | 571,190 |  |

| At 31 October 2023 | 306,686 |  |

MICHELINS TRADING LIMITED (REGISTERED NUMBER: 13014621) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 OCTOBER 2024

4. | INTANGIBLE FIXED ASSETS - continued

| Cost or valuation at 31 October 2024 is represented by:

| Other

| intangible

| assets

£ |

| Valuation in 2024 | 571,190 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Other debtors | 1 |  | 1 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Taxation and social security | 64,293 |  | - |  |

| Other creditors | 256,825 |  | 255,913 |  |

321,118 |  | 255,913 |  |

7. | RELATED PARTY DISCLOSURES

| During the period, the company borrowed £913 (2023- £913) from Michelins Properties Limited, a company under common control. At the balance sheet date amounts due to the company to Michelins Properties Limited totalled £255,732 (2023- £254,999). The loan is interest free and payable on demand.

8. | ULTIMATE CONTROLLING PARTY

| The company's immediate parent undertaking is Michelins Residential Limited, a company incorporated in England and Wales. The company's ultimate parent undertaking is Michelins Properties Limited, a company incorporated in England Wales.

| The company is under no overall control by any one party due to no shareholder owning a majority of the issued share capital in the ultimate parent undertaking.