Miekha Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Miekha Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07443356 . The registered office is Stuart House-East Wing, St. Johns Street, Peterborough, PE1 5DD.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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.

2.4. 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	18% on reducing balance
Fixtures & Fittings	18% on reducing balance
Computer Equipment	18% on reducing balance

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Miekha Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts Payable are classified as current liabilities if the company does not have an unconditional right at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2023: 7)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 December 2023	115,423	61,455	7,152	184,030
Additions	7,212	-	-	7,212
Disposals	(17,751 )	-	-	(17,751 )

As at 30 November 2024	104,884	61,455	7,152	173,491

Depreciation
As at 1 December 2023	14,305	52,731	2,061	69,097
Provided during the period	16,304	1,792	916	19,012

As at 30 November 2024	30,609	54,523	2,977	88,109

Net Book Value
As at 30 November 2024	74,275	6,932	4,175	85,382

As at 1 December 2023	101,118	8,724	5,091	114,933

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Miekha Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	8,811	7,440
Prepayments and accrued income	913	-
Khamine Spectrum	14,104	28,207
Nathi loan	20,167	20,167
Intercompany Loan-Kasan	6,900	6,900
L Afzal & B Sarkozi Exam	-	1,020
Dubai Property Loan	10,534	10,213
Other debtors (6)	6,459	3,466
Director's loan account	143,163	100,066

	211,051	177,479
Due after more than one year
Corporation tax recoverable assets	19,118	3,553

	230,169	181,032

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	17,171	19,928
Bank loans and overdrafts	1,204	1,896
Corporation tax	73,684	55,954
Other taxes and social security	3,070	1,569
Accountant Creditor	1,037	4,840
Pension	3,269	1,304
DEA	136	136
Close Brothers	-	2,650
Dilapidation provision	10,000	10,000
BNP Loan	989	1,413
Corp Tax Loan - New	-	9,722
Other creditors (8)	19,553	-
Accruals and deferred income	3,803	-

	133,916	109,412

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

	2024	2023
	£	£
Bounceback Loan	10,966	18,050
Conister finance	40,210	69,706

	51,176	87,756

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	200	200

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Miekha Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2024

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 December 2023	Amounts advanced	Amounts repaid	Amounts written off	As at 30 November 2024
	£	£	£	£	£
Mr Mogamat Jamie	197,027	-	-	-	-

The above loan is unsecured, interest free and repayable on demand.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		85,382		114,933

			85,382		114,933
CURRENT ASSETS
Debtors	5	230,169		181,032
Cash at bank and in hand		5,300		52

		235,469		181,084
Creditors: Amounts Falling Due Within One Year	6	(133,916 )		(109,412 )

NET CURRENT ASSETS (LIABILITIES)			101,553		71,672

TOTAL ASSETS LESS CURRENT LIABILITIES			186,935		186,605

Creditors: Amounts Falling Due After More Than One Year	7		(51,176 )		(87,756 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(7,849 )		(7,849 )

NET ASSETS			127,910		91,000

CAPITAL AND RESERVES
Called up share capital	8		200		200
Profit and Loss Account			127,710		90,800

SHAREHOLDERS' FUNDS			127,910		91,000