Company No: 06867960 (England and Wales)

Contents

• Profit and Loss Account
• Balance Sheet
• Notes to the Financial Statements
• Detailed Profit and Loss Account

		2024		2023
		£		£
Turnover		0		23,174
Cost of sales		0		( 22,530)
Gross profit		0		644
Administrative expenses		( 205)		( 2,310)
Operating loss		( 205)		( 1,666)
Interest receivable and similar income		0		4
Loss before taxation		( 205)		( 1,662)
Tax on loss		0		0
Loss for the financial year		( 205)		( 1,662)

	Note	2024		2023
		£		£
Current assets
Debtors	3	0		81,632
Cash at bank and in hand		898		5,227
		898		86,859
Creditors: amounts falling due within one year	4	( 797)		( 2,663)
Net current assets		101		84,196
Total assets less current liabilities		101		84,196
Net assets		101		84,196
Capital and reserves
Called-up share capital	5	101		101
Profit and loss account		0		84,095
Total shareholder's funds		101		84,196

Mikes Diving Limited (registered number: 06867960) did not trade during the current financial year. There have been no movements in shareholders’ funds during the current financial year and therefore no Statement of Changes of Equity has been included. For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A – small entities.

The financial statements of Mikes Diving Limited (registered number: 06867960) were approved and authorised for issue by the Director on 12 September 2025. They were signed on its behalf by:

Mr G Harrington Director

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

Mikes Diving 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 Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF.

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 £.

Going concern

In December 2023, the directors made the decision that the Company would cease trading. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	0		0

3. Debtors

	2024		2023
	£		£
Amounts owed by Parent undertakings	0		81,632

4. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	0		70
Amounts owed to Parent undertakings	797		0
Amounts owed to director	0		832
Accruals	0		1,750
Other taxation and social security	0		11
	797		2,663

5. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100
1 Ordinary B share of £ 1.00	1		1
	101		101

6. Ultimate controlling party

Parent Company:

Two Bare Feet Limited

Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF.

	2024		2023
	£		£
Turnover
Sales	0		23,174
Cost of sales
Opening stock	0		( 5,000)
Direct costs	0		( 12,363)
Commission, carriage and import	0		( 5,167)
	0		(22,530)
Gross profit	0		644
Gross profit percentage	-		-
Administrative expenses
Use of home office	0		( 312)
Bank charges	( 205)		( 320)
Accountancy fees	0		( 1,100)
Advertising and PR	0		( 543)
Sundry expenses	0		( 35)
	(205)		(2,310)
Operating loss	( 205)		( 1,666)
Interest receivable and similar income
Other interest receivable	0		4
Loss before taxation	( 205)		( 1,662)