MIMASM Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07783734

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		364,136		354,271
Tangible Assets	5		7,906		8,541

			372,042		362,812
CURRENT ASSETS
Debtors	6	661,079		945,244
Cash at bank and in hand		441,725		607,738

		1,102,804		1,552,982
Creditors: Amounts Falling Due Within One Year	7	(1,023,733 )		(1,388,845 )

NET CURRENT ASSETS (LIABILITIES)			79,071		164,137

TOTAL ASSETS LESS CURRENT LIABILITIES			451,113		526,949

Creditors: Amounts Falling Due After More Than One Year	8		(30,000 )		(70,000 )

NET ASSETS			421,113		456,949

CAPITAL AND RESERVES
Called up share capital	9		53,595		53,595
Share premium account			87,588		87,588
Profit and Loss Account			279,930		315,766

SHAREHOLDERS' FUNDS			421,113		456,949

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MIMASM Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Michael Smith

Director

29 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

MIMASM Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07783734 . The registered office is 3rd Floor 86-90, Paul Street, London, EC2A 4NE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 5 years.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	straight line method over 3 years
Fixtures & Fittings	straight line method over 4 years

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2023: 17)

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MIMASM Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 January 2024	842,020
Additions	123,748

As at 31 December 2024	965,768

Amortisation
As at 1 January 2024	487,748
Provided during the period	113,884

As at 31 December 2024	601,632

Net Book Value
As at 31 December 2024	364,136

As at 1 January 2024	354,272

5. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2024	109,274
Additions	6,857

As at 31 December 2024	116,131

Depreciation
As at 1 January 2024	100,733
Provided during the period	7,492

As at 31 December 2024	108,225

Net Book Value
As at 31 December 2024	7,906

As at 1 January 2024	8,541

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	272,291	458,384
Other debtors	388,788	486,860

	661,079	945,244

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MIMASM Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	250,254	332,633
Bank loans and overdrafts	40,000	40,000
Other creditors	598,862	855,182
Taxation and social security	134,617	161,030

	1,023,733	1,388,845

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	30,000	70,000

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	53,595	53,595

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