REGISTERED NUMBER: 02959578 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

M.I.H.K LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A C De La Mata

SECRETARY:

A C De La Mata

REGISTERED OFFICE:

25 Powis Terrace

London

W11 1JJ

REGISTERED NUMBER:

02959578 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

6,222

8,297

CURRENT ASSETS

Debtors

5

252,468

165,926

Cash at bank and in hand

4,024

39,070

256,492

204,996

CREDITORS

Amounts falling due within one year

6

(397,921

)

(343,575

)

NET CURRENT LIABILITIES

(141,429

)

(138,579

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(135,207

)

(130,282

)

CREDITORS

Amounts falling due after more than one year

7

(43,646

)

(59,278

)

NET LIABILITIES

(178,853

)

(189,560

)

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

(178,855

)

(189,562

)

SHAREHOLDERS' FUNDS

(178,853

)

(189,560

)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2025 and were signed by:

A C De La Mata - Director

1.	STATUTORY INFORMATION

M.I.H.K 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents the amounts derived from the sales of goods, licences, services and non-returnable advances received stated net of value added tax. Turnover is recognised at the point of sale of goods to customers or when the service has been provided.

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 trade and other receivables and cash 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 trade and other payables, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

19,701

258,857

278,558

DEPRECIATION

At 1 January 2024

19,701

250,560

270,261

Charge for year

-

2,075

2,075

At 31 December 2024

19,701

252,635

272,336

NET BOOK VALUE

At 31 December 2024

-

6,222

6,222

At 31 December 2023

-

8,297

8,297

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

91,673

46,871

Other debtors

160,795

119,055

252,468

165,926

Included in other debtors are amounts owed to connected companies. Interest has not been charged.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 8)

15,747

14,940

Trade creditors

7,578

7,122

Taxation and social security

7,477

7,323

Other creditors

367,119

314,190

397,921

343,575

Included in other creditors are amounts owed to connected companies. Interest has not been charged.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 8)

43,646

59,278

8.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank loans

15,747

14,940

Amounts falling due between one and two years:

Bank loans - 1-2 years

43,646

59,278

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

-

1,809

10.	SECURED DEBTS

The guarantee security assignment and charges and debenture is secured against the fixed and floating charge over the undertaking and all assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2

Ordinary

£1

2

2

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director Mr A C De La Mata was advanced £40,261 (2023: £51,308) in loans by the company and repaid £57,751 (2023: £53,705) to the company.

At the year end, Mr A C De La Mata owed the company £9,484 (2023: £26,973). During the year interest of £272 (2023: £228) was charged on the loan.

13.	RELATED PARTY DISCLOSURES

Mr A C De La Mata is a director and controlling shareholder of Vinyl Schnozza Limited ("Vinyl"). During the year Vinyl paid management charges of £5,594 (2023: £9,665) to MIHK. Various connected company loans were also made to and from the company. At 31 December 2024 the balance owed by Vinyl was £66,489 (2023: £39,615).

Mr A C De La Mata is a director and shareholder of Visible Noise Limited ("Visible"). During the year Visible paid management charges of £21,067 (2023: £23,315) to MIHK. Various connected company loans were also made to and from the company. At 31 December 2024, the balance owed to Visible was £50,235 (2023: £48,044).

Mr A C De La Mata is a director and shareholder of Edgefilm Limited ("Edgefilm"). During the year the company advanced £40,000 (2023: £500). At the year ended 31 December 2024, the balance owed to Edgefilm was £117,900 (2023: £77,900).

Mr A C De La Mata is a director and shareholder of La Boca Limited ("La Boca"). During the year La Boca paid management charges of £10,215 (2023: £9,630) to MIHK. At 31 December 2024, the balance owed by La Boca was £21,621 (2023: £26,906).

The bank accounts of the company and various other companies in which the director have an interest as director and shareholder are secured by an unlimited inter-company cross guarantee.