Company registration number 12299316 (England and Wales)
Mitheldan Limited
Unaudited financial statements
For the year ended 31 March 2025
Mitheldan Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
Mitheldan Limited
Statement of financial position
As at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
58,454
73,070
Investment property
4
315,000
295,000
373,454
368,070
Current assets
Debtors
5
245,454
286,801
Cash at bank and in hand
5,794
21,966
251,248
308,767
Creditors: amounts falling due within one year
6
(28,303)
(26,609)
Net current assets
222,945
282,158
Total assets less current liabilities
596,399
650,228
Creditors: amounts falling due after more than one year
7
(36,270)
(46,573)
Provisions for liabilities
(11,100)
(18,300)
Net assets
549,029
585,355
Capital and reserves
Called up share capital
400,000
400,000
Distributable profit and loss reserves
149,029
185,355
Total equity
549,029
585,355
Mitheldan Limited
Statement of financial position (continued)
As at 31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 23 September 2025
Mr P M Willis
Director
Company registration number 12299316 (England and Wales)
Mitheldan Limited
Notes to the financial statements
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Company information

Mitheldan Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Glades Festival Way, Festival Park, Stoke-On-Trent, Staffordshire, United Kingdom, ST1 5SQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

Revenue from rentals of property are recognised when the amount of revenue can be measured reliably, it is probable that the economical benefits associated with the transactions will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
20% on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank.

Mitheldan Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, amounts due from connected parties and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and hire purchase loans, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Mitheldan Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
3
Tangible fixed assets
Motor vehicles
£
Cost
At 1 April 2024 and 31 March 2025
114,170
Depreciation and impairment
At 1 April 2024
41,100
Depreciation charged in the year
14,616
At 31 March 2025
55,716
Carrying amount
At 31 March 2025
58,454
At 31 March 2024
73,070
Mitheldan Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 6 -
4
Investment property
2025
£
Fair value
At 1 April 2024
295,000
Revaluations
20,000
At 31 March 2025
315,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
245,454
286,801
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
600
276
Corporation tax
-
0
10,295
Other creditors
27,703
16,038
28,303
26,609
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
36,270
46,573
8
Directors' transactions

The advance is unsecured, repayable on demand and interest is charged at HMRC's official rate of interest per annum, where the balance exceeds £10,000.

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Directors loan
2.25
82,112
1,223
(50,971)
32,364
Mitheldan Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
8
Directors' transactions
(Continued)
- 7 -
82,112
1,223
(50,971)
32,364
2025-03-31 2024-04-01 false false false 23 September 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr Paul Martin Willis 12299316 2024-04-01 2025-03-31 12299316 2025-03-31 12299316 2024-03-31 12299316 core:MotorVehicles 2025-03-31 12299316 core:MotorVehicles 2024-03-31 12299316 core:WithinOneYear 2025-03-31 12299316 core:WithinOneYear 2024-03-31 12299316 core:AfterOneYear 2025-03-31 12299316 core:AfterOneYear 2024-03-31 12299316 core:CurrentFinancialInstruments 2025-03-31 12299316 core:CurrentFinancialInstruments 2024-03-31 12299316 core:ShareCapital 2025-03-31 12299316 core:ShareCapital 2024-03-31 12299316 core:RetainedEarningsAccumulatedLosses 2025-03-31 12299316 core:RetainedEarningsAccumulatedLosses 2024-03-31 12299316 bus:Director1 2024-04-01 2025-03-31 12299316 core:MotorVehicles 2024-04-01 2025-03-31 12299316 2023-04-01 2024-03-31 12299316 core:MotorVehicles 2024-03-31 12299316 2024-03-31 12299316 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 12299316 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 12299316 core:Non-currentFinancialInstruments 2025-03-31 12299316 core:Non-currentFinancialInstruments 2024-03-31 12299316 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 12299316 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 12299316 bus:FRS102 2024-04-01 2025-03-31 12299316 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 12299316 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP