Mikelab Consultants Ltd

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—5

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Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: 07192956

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets			5,232		51

			5,232		51
CURRENT ASSETS
Debtors	4	43,073		24,379
Cash at bank and in hand		1,552		15,279

		44,625		39,658
Creditors: Amounts Falling Due Within One Year	5	(43,269 )		(12,441 )

NET CURRENT ASSETS (LIABILITIES)			1,356		27,217

TOTAL ASSETS LESS CURRENT LIABILITIES			6,588		27,268

Creditors: Amounts Falling Due After More Than One Year	6		(6,314 )		(12,644 )

NET ASSETS			274		14,624

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			174		14,524

SHAREHOLDERS' FUNDS			274		14,624

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Mikelab Consultants Ltd

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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements were approved by the board of directors on 14 December 2025 and were signed on its behalf by:

Dr Margaret Adejolu

Director

The notes on pages 4 to 5 form part of these financial statements.

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Mikelab Consultants Ltd

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Mikelab Consultants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07192956 . The registered office is 55b Ridge Lane, Watford, Hertfordshire, WD17 4SX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 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. 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:

Plant & Machinery	20% Straight Line Method
Motor Vehicles	20% Straight Line Method

2.4. 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.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable 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 year 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.

Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.

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Mikelab Consultants Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Share Capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Debtors

	2025	2024
	£	£
Due within one year
Corporation tax recoverable assets	-	5,979
Directors' loan accounts	32,376	18,400

	32,376	24,379
Due after more than one year
Tax current asset	10,697	-

	43,073	24,379

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Corporation tax	9,469	12,441
Other creditors	6,478	-
Other creditors (1)	24,854	-
Accruals and deferred income	2,468	-

	43,269	12,441

6. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bounce Back Loan	6,314	12,644

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

8. Controlling Party

The company's controlling party is Dr Margaret Adejolu by virtue of her ownership of 62% of the issued share capital in the company.

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Directors	Dr Margaret Adejolu
	Dr Michael Abiodun

Company Number	07192956

Registered Office	55b Ridge Lane
	Watford
	Hertfordshire
	WD17 4SX

Accountants	Zenith Accounting & Business Solutions Ltd
	Certified Accountants
	DFO Consulting - Churchill House
	120 Bunns Lane
	Mill Hill
	London
	NW7 2AS