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Registered number: 07630346
Mireya (UK) Limited
Financial Statements
For The Year Ended 31 December 2024
Bell Maison Limited
7c High Street
Barnet
EN5 5UE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07630346
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 16,858 3,390
Tangible Assets 5 379,726 205,173
396,584 208,563
CURRENT ASSETS
Stocks 6 1,149,126 1,307,844
Debtors 7 1,282,637 1,188,314
Cash at bank and in hand 83,698 122,740
2,515,461 2,618,898
Creditors: Amounts Falling Due Within One Year 8 (1,982,685 ) (2,082,495 )
NET CURRENT ASSETS (LIABILITIES) 532,776 536,403
TOTAL ASSETS LESS CURRENT LIABILITIES 929,360 744,966
Creditors: Amounts Falling Due After More Than One Year 9 (25,187 ) (30,540 )
NET ASSETS 904,173 714,426
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 904,073 714,326
SHAREHOLDERS' FUNDS 904,173 714,426
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Rahil Shah
Director
26th September 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mireya (UK) Limited Registered number 07630346 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 2 7c High Street, Barnet, EN5 5UE.
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. 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.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 33.33% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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.
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2.7. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 9)
13 9
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2024 11,300
Additions 21,675
As at 31 December 2024 32,975
Amortisation
As at 1 January 2024 7,910
Provided during the period 8,207
As at 31 December 2024 16,117
Net Book Value
As at 31 December 2024 16,858
As at 1 January 2024 3,390
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 237,957 54,890 292,847
Additions 216,194 19,196 235,390
As at 31 December 2024 454,151 74,086 528,237
Depreciation
As at 1 January 2024 59,814 27,860 87,674
Provided during the period 45,638 15,199 60,837
As at 31 December 2024 105,452 43,059 148,511
Net Book Value
As at 31 December 2024 348,699 31,027 379,726
As at 1 January 2024 178,143 27,030 205,173
6. Stocks
2024 2023
£ £
Finished goods 1,149,126 1,307,844
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,147,182 1,104,969
Prepayments and accrued income 17,761 14,541
Rent deposit 12,334 11,884
Deposit for Forward Contract 4,534 7,126
Other debtor 100,826 49,794
1,282,637 1,188,314
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,040,845 1,175,992
Bank loans and overdrafts 6,210 6,210
Corporation tax 7,260 13,944
VAT 180,826 152,920
Pension liability 1,789 1,739
Amount due to Other Creditors 729,090 729,090
Accruals and deferred income 6,400 2,600
Director's loan account 10,265 -
1,982,685 2,082,495
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 25,187 30,540
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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