REGISTERED NUMBER: 07890780 (England and Wales)

MISSION AGENCY (IBIZA) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J O Mallett

REGISTERED OFFICE:

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

CF23 8RS

REGISTERED NUMBER:

07890780 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Intangible assets

4

154,788

81,725

CURRENT ASSETS

Debtors

5

-

2,165

Cash at bank

405

842

405

3,007

CREDITORS

Amounts falling due within one year

6

(78,917

)

(62,858

)

NET CURRENT LIABILITIES

(78,512

)

(59,851

)

TOTAL ASSETS LESS CURRENT LIABILITIES

76,276

21,874

CREDITORS

Amounts falling due after more than one year

7

(10,210

)

(14,414

)

NET ASSETS

66,066

7,460

CAPITAL AND RESERVES

Called up share capital

8

100

100

Share premium

11,980

11,980

Retained earnings

53,986

(4,620

)

SHAREHOLDERS' FUNDS

66,066

7,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 October 2025 and were signed by:

J O Mallett - Director

1.	STATUTORY INFORMATION

Mission Agency (Ibiza) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There have been no material departures from Financial Reporting Standard 102 1A.

Going Concern

At 31 December 2024 the company had net current liabilities of £78,512. However, the going concern basis of preparation of the financial statements is considered to be appropriate as the director believes that the company will be profitable in the future and in the meantime he will support it financially to enable it to meet it's liabilities as they fall due for payment.

Turnover

The turnover shown in the profit and loss account represents consultancy fees and income receivable from intangible assets during the year.

Intangible assets

Intangible assets are included at fair value. Gains are recognised in the profit and loss statement. Deferred tax is provided on these gains at the rate expected to apply when the asset is sold. Intangible assets are valued at the current bid price at the balance sheet date.

Cryptocurrencies are not amortised as they have an indefinite useful life but are tested for impairment annually or whenever there is indication that the intangible asset may be impaired.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments

Basic financial instruments are recognised at amortised cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST OR VALUATION

At 1 January 2024

81,725

Additions

920

Disposals

(91

)

Revaluations

72,234

At 31 December 2024

154,788

NET BOOK VALUE

At 31 December 2024

154,788

At 31 December 2023

81,725

At the year end the intangible fixed assets have been valued at current bid price by Koinly, a specialist in cryptocurrency reporting.

If the assets had not been revalued they would have been included at a historical cost of £188,461.

Cost or valuation at 31 December 2024 is represented by:

Other

intangible

assets

£

Valuation in 2024

154,788

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Directors' current accounts

-

2,165

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

7,657

6,177

Other creditors

49,782

49,782

Directors' current accounts

14,759

-

Accruals and deferred income

6,719

6,899

78,917

62,858

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

7,657

6,177

Bank loans - 2-5 years

2,553

8,237

10,210

14,414

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

J O Mallett

Balance outstanding at start of year

2,165

5,732

Amounts advanced

-

13,852

Amounts repaid

(2,165

)

(17,419

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

2,165

No interest has been charged as the balance did not exceed £10,000 at any point during the year.