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COMPANY REGISTRATION NUMBER: 15714502

MIP ONLINE 1975 LTD

FILLETED FINANCIAL STATEMENTS

FOR THE PERIOD FROM 11 MAY 2024 TO

31 January 2025

MIP ONLINE 1975 LTD

STATEMENT OF FINANCIAL POSITION

31 January 2025

| 31 Jan 25
Note | £ | £

FIXED ASSETS

Tangible assets | 5 |  | 777

CURRENT ASSETS

Debtors | 6 | 4,057,137 |
Cash at bank and in hand | 163,589 |
| ------------ |
| 4,220,726 |

CREDITORS: amounts falling due within one year | 7 | ( 2,554,409) |
| ------------ |
NET CURRENT ASSETS |  | 1,666,317
|  | ------------
TOTAL ASSETS LESS CURRENT LIABILITIES |  | 1,667,094

CREDITORS: amounts falling due after more than one year | 8 |  | ( 122,438)
|  | ------------
NET ASSETS |  | 1,544,656
|  | ------------

CAPITAL AND RESERVES

Called up share capital |  | 1
Profit and loss account |  | 1,544,655
|  | ------------
SHAREHOLDERS FUNDS |  | 1,544,656
|  | ------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:

S Buck
Director

Company registration number: 15714502

MIP ONLINE 1975 LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 29 JANUARY 2024 TO 31 JANUARY 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 34 Roundhay Road, Leeds, LS7 1AB, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 20% straight line

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TAX ON PROFIT
Major components of tax expense

| Period from
| 29 Jan 24 to
| 31 Jan 25
| £

Current tax:

UK current tax expense | 453,938
| ---------
Tax on profit | 453,938
| ---------

5. TANGIBLE ASSETS

| Fixtures and fittings
| £
Cost |
At 29 January 2024 | –
Additions | 827
| ----
At 31 January 2025 | 827
| ----
Depreciation |
At 29 January 2024 | –
Charge for the period | 50
| ----
At 31 January 2025 | 50
| ----
Carrying amount |
At 31 January 2025 | 777
| ----

6. DEBTORS

| 31 Jan 25
| £
Trade debtors | 229,292
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 3,787,410
Other debtors | 40,435
| ------------
| 4,057,137
| ------------

7. CREDITORS: amounts falling due within one year

| 31 Jan 25
| £
Bank loans and overdrafts | 91,544
Trade creditors | 450,857
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 1,055,872
Corporation tax | 453,938
Social security and other taxes | 492,448
Other creditors | 9,750
| ------------
| 2,554,409
| ------------

8. CREDITORS: amounts falling due after more than one year

| 31 Jan 25
| £
Bank loans and overdrafts | 122,438
| ---------

9. SUMMARY AUDIT OPINION
The auditor's report dated 20 March 2025 was unqualified .
The senior statutory auditor was JEFFREY WINE , for and on behalf of Wine & Co .