MITAX LIMITED

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 02231825

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		106,976		102,536

			106,976		102,536
CURRENT ASSETS
Stocks	5	138,053		118,060
Debtors		346,638		295,724
Cash at bank and in hand		441,939		392,845

		926,630		806,629
Creditors: Amounts Falling Due Within One Year		(458,629 )		(395,793 )

NET CURRENT ASSETS (LIABILITIES)			468,001		410,836

TOTAL ASSETS LESS CURRENT LIABILITIES			574,977		513,372

NET ASSETS			574,977		513,372

CAPITAL AND RESERVES
Called up share capital	6		2		2
Share premium account			10,347		10,347
Profit and Loss Account			564,628		503,023

SHAREHOLDERS' FUNDS			574,977		513,372

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MITAX LIMITED

Abridged Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.

The financial statements were approved by the board on 18 December 2025 and were signed on its behalf by:

Mr Samir Patel

Director

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

MITAX LIMITED is a private company, limited by shares, incorporated in England & Wales.

The registered number is 02231825 .

The registered office is 74 Dickenson Road, Rusholme, Manchester, M14 5HF.

Dividends paid to the Director, Mr Samir Patel, are reported in the notes to the accounts.

Related party transactions are reported in the notes to the accounts.

There are no other related party transactions to report.

There are no contingent liabilities or other post balance sheet events to report.

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 represents net sales of goods, excluding Value Added Tax (VAT).

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold	2.5% Reducing Balance
Fixtures & Fittings	15% Reducing Balance

No depreciation is charged in the year of acquisition.

2.4. Stocks and Work in Progress

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2.5. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.6. Accounting Reference Date

The accounting reference date is 27 March.

These accounts are nevertheless for the year ending 31 March 2025.

2.7. Comparative Figures

The comparative figures used throughout these accounts are as at 31 March 2024 or are for the year ended on that date.

2.8. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, who are employed under a contract of service during the year was as follows:

	2025	2024
Chemists & Pharmacy Assistants	9	9

	9	9

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MITAX LIMITED

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Total
	£
Cost
As at 1 April 2024	277,779
Additions	8,038

As at 31 March 2025	285,817

Depreciation
As at 1 April 2024	175,243
Provided during the period	3,598

As at 31 March 2025	178,841

Net Book Value
As at 31 March 2025	106,976

As at 1 April 2024	102,536

Freehold land and buildings were acquired in December 1997 and comprise a swimming pool and outbuildings. The location adjoins the Director's private residence.

5. Stocks

	2025	2024
	£	£
Finished goods	138,053	118,060

6. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
8 Ordinary Shares of £ 0.25 each	2	2

Issued Ordinary Voting Shares of 25p as at 31 March 2025 were as follows:

- Mr Samir Patel own 6 25p Ordinary Voting Shares

- Mr Sudi Patel owns 1 25p Ordinary Voting Share

- Miss Jessica Patel owns 1 25p Ordinary Voting Share

7. Pension Commitments

The company operates a defined contribution pension scheme.

The assets of the scheme are held separately from those of the company in an independently administered fund. Pension contributions of £784 (2024 £843) were due to the fund and are included in Creditors.

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Samir Patel	47,512	112,500	(112,502 )	-	47,510

The above loan is unsecured and repayable on demand.

The loan was subject to interest calculated by reference to the official rate of interest which was 2.25% throughout the year. Interest charged totalled £465 (2024 £332) and is included in amounts advanced.

The maximum overdrawn balance during the year was £47,512 (2024 £47,512).

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MITAX LIMITED

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 March 2025

9. Related Party Transactions

Transactions with Associated Companies

Texyarn Limited is an associated company and is controlled by Samir Patel who held 34,740 £1 Ordinary Shares representing 69.48% of the issued share capital throughout the year.

Management charges for the year ended 31 March 2025 of £32,000 (2024 £31,500) are payable to Texyarn Limited. The amount due to Texyarn Limited from Mitax Limited at the year end date was ££78,590 (2024 £79,010).

Transactions involving Directors

Net rental income includes a sum of £31,380 (2024 £30,750) payable by the Director for the use of land and buildings referred to in the tangible fixed assets note. This sum equates to the taxable benefit which would otherwise arise.

10. Ultimate Controlling Party

The Company was controlled by Mr Samir Patel who held 6 25p A Ordinary Shares representing 75% of the issued share capital throughout the year.

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