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COMPANY REGISTRATION NUMBER: 15763152

MIP TRADING 1975 LTD

FILLETED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 January 2025

MIP TRADING 1975 LTD

STATEMENT OF FINANCIAL POSITION

31 January 2025

| 31 Jan 25
Note | £ | £

FIXED ASSETS

Tangible assets | 4 |  | 93,026

CURRENT ASSETS

Stocks | 4,093,939 |
Debtors | 5 | 3,629,417 |
Cash at bank and in hand | 2,139 |
| ------------ |
| 7,725,495 |

CREDITORS: amounts falling due within one year | 6 | ( 10,632,843) |
| ------------- |
NET CURRENT LIABILITIES |  | ( 2,907,348)
|  | ------------
TOTAL ASSETS LESS CURRENT LIABILITIES |  | ( 2,814,322)
|  | ------------
NET LIABILITIES |  | ( 2,814,322)
|  | ------------

CAPITAL AND RESERVES

Called up share capital |  | 1
Profit and loss account |  | ( 2,814,323)
|  | ------------
SHAREHOLDERS DEFICIT |  | ( 2,814,322)
|  | ------------

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 A Buck
Director

Company registration number: 15763152

MIP TRADING 1975 LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 5 JUNE 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.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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
| Office equipment | - | 20% straight line

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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. TANGIBLE ASSETS

| Fixtures and fittings | Office Equipment | Total
| £ | £ | £
Cost |  |  |
At 5 June 2024 | – | – | –
Additions | 29,394 | 74,095 | 103,489
| -------- | -------- | ---------
At 31 January 2025 | 29,394 | 74,095 | 103,489
| -------- | -------- | ---------
Depreciation |  |  |
At 5 June 2024 | – | – | –
Charge for the period | 3,334 | 7,129 | 10,463
| -------- | -------- | ---------
At 31 January 2025 | 3,334 | 7,129 | 10,463
| -------- | -------- | ---------
Carrying amount |  |  |
At 31 January 2025 | 26,060 | 66,966 | 93,026
| -------- | -------- | ---------

5. DEBTORS

| 31 Jan 25
| £
Trade debtors | 20,698
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 3,327,094
Other debtors | 281,625
| ------------
| 3,629,417
| ------------

6. CREDITORS: amounts falling due within one year

| 31 Jan 25
| £
Bank loans and overdrafts | 584,033
Trade creditors | 1,047,281
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 8,561,121
Social security and other taxes | 62,778
Other creditors | 377,630
| -------------
| 10,632,843
| -------------

7. 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 .