General Information
MIHAIL DRYLINING LTD is a private company, limited by shares, registered in , registration number 12251213, registration address 14 , Edmund Road, Rainham, RM13 8LS.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
|
| 2. |
Directors' Emoluments
|
2025
£ |
|
2024
£ |
|
Administrative Expenses
|
| Directors Salaries |
12,500 |
|
12,000 |
|
12,500 |
|
12,000 |
|
| 3. |
Staff Costs
|
2025
£ |
|
2024
£ |
| Wages and salaries |
14,300 |
|
12,000 |
| Other staff costs |
0 |
|
4,200 |
|
14,300 |
|
16,200 |
|
| 4. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| CIS Control Account |
18,723 |
|
16,184 |
| Vat Refund Receivable |
0 |
|
518 |
|
18,723 |
|
16,702 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Corporation Tax |
3,972 |
|
2,827 |
| Other Creditors |
1 |
|
1 |
| Business Loan |
3,732 |
|
(2,107) |
|
7,705 |
|
721 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Directors' Loan Accounts |
4,515 |
|
0 |
|
4,515 |
|
0 |
|
| 8. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
1
Class A share of £1.00 each |
1 |
|
1 |
|
1 |
|
1 |
|
| 9. |
General Reserves
|
2025
£ |
|
2024
£ |
| Retrained earnings |
0 |
|
7,303 |
| Opening balance adjustment |
(5,789) |
|
0 |
|
(5,789) |
|
7,303 |
|
3
|