Silverfin false false 31/03/2025 01/04/2024 31/03/2025 M J Phillips 01/04/2014 M Phillips 25/03/2010 14 May 2026 The principal activity of the Company during the financial year continued to be that of bakers and restaurateurs. SC375619 2025-03-31 SC375619 bus:Director1 2025-03-31 SC375619 bus:Director2 2025-03-31 SC375619 2024-03-31 SC375619 core:CurrentFinancialInstruments 2025-03-31 SC375619 core:CurrentFinancialInstruments 2024-03-31 SC375619 core:Non-currentFinancialInstruments 2025-03-31 SC375619 core:Non-currentFinancialInstruments 2024-03-31 SC375619 core:ShareCapital 2025-03-31 SC375619 core:ShareCapital 2024-03-31 SC375619 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC375619 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC375619 core:LandBuildings 2024-03-31 SC375619 core:LeaseholdImprovements 2024-03-31 SC375619 core:PlantMachinery 2024-03-31 SC375619 core:Vehicles 2024-03-31 SC375619 core:LandBuildings 2025-03-31 SC375619 core:LeaseholdImprovements 2025-03-31 SC375619 core:PlantMachinery 2025-03-31 SC375619 core:Vehicles 2025-03-31 SC375619 core:CostValuation 2024-03-31 SC375619 core:CostValuation 2025-03-31 SC375619 bus:OrdinaryShareClass1 2025-03-31 SC375619 2024-04-01 2025-03-31 SC375619 bus:FilletedAccounts 2024-04-01 2025-03-31 SC375619 bus:SmallEntities 2024-04-01 2025-03-31 SC375619 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC375619 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC375619 bus:Director1 2024-04-01 2025-03-31 SC375619 bus:Director2 2024-04-01 2025-03-31 SC375619 core:LandBuildings core:BottomRangeValue 2024-04-01 2025-03-31 SC375619 core:LandBuildings core:TopRangeValue 2024-04-01 2025-03-31 SC375619 core:LeaseholdImprovements core:TopRangeValue 2024-04-01 2025-03-31 SC375619 core:PlantMachinery core:TopRangeValue 2024-04-01 2025-03-31 SC375619 core:Vehicles 2024-04-01 2025-03-31 SC375619 2023-04-01 2024-03-31 SC375619 core:LandBuildings 2024-04-01 2025-03-31 SC375619 core:LeaseholdImprovements 2024-04-01 2025-03-31 SC375619 core:PlantMachinery 2024-04-01 2025-03-31 SC375619 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 SC375619 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 SC375619 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC375619 (Scotland)

# MIMI'S TEAHOUSE LTD

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

MIMI'S TEAHOUSE LTD

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

MIMI'S TEAHOUSE LTD

## BALANCE SHEET

AS AT 31 MARCH 2025
MIMI'S TEAHOUSE LTD

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 220,520 |  | 258,110
Investments | 4 | 40 |  | 40
|  | 220,560 |  | 258,150
Current assets |  |  |  |
Stocks |  | 20,489 |  | 22,350
Debtors | 5 | 68,245 |  | 109,524
Cash at bank and in hand |  | 109,271 |  | 60,910
|  | 198,005 |  | 192,784
Creditors: amounts falling due within one year | 6 | ( 617,705) |  | ( 473,121)
Net current liabilities |  | (419,700) |  | (280,337)
Total assets less current liabilities |  | (199,140) |  | (22,187)
Creditors: amounts falling due after more than one year | 7 | ( 7,259) |  | ( 26,395)
Net liabilities |  | ( 206,399) |  | ( 48,582)
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | ( 206,499 ) |  | ( 48,682 )
Total shareholders' deficit |  | ( 206,399) |  | ( 48,582)

For the financial 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.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Mimi's Teahouse Ltd (registered number: SC375619) were approved and authorised for issue by the Board of Directors on 14 May 2026. They were signed on its behalf by:

M Phillips Director |

MIMI'S TEAHOUSE LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
MIMI'S TEAHOUSE LTD

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Mimi's Teahouse Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Floor 3 1-4, Atholl Crescent, Edinburgh, EH3 8HA, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable from the sale of baked goods and the provision of restaurant services in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 7.5 - 20 years straight line
Leasehold improvements | 15 years straight line
Plant and machinery | 10 years straight line
Vehicles | 20 % reducing balance

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account. No impairments were noted during the year.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at cost less impairment due to lack of market value information.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at cost.
Trade creditors 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 creditors are recognised at transaction price.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 113 |  | 118

#### 3. Tangible assets

| Land and buildings |  | Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 April 2024 | 52,972 |  | 116,907 |  | 596,147 |  | 61,941 |  | 827,967
Additions | 0 |  | 0 |  | 1,055 |  | 0 |  | 1,055
Disposals | 0 |  | 0 |  | ( 1,790) |  | 0 |  | ( 1,790)
At 31 March 2025 | 52,972 |  | 116,907 |  | 595,412 |  | 61,941 |  | 827,232
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 April 2024 | 47,115 |  | 22,557 |  | 459,729 |  | 40,456 |  | 569,857
Charge for the financial year | 1,866 |  | 7,794 |  | 23,479 |  | 4,297 |  | 37,436
Disposals | 0 |  | 0 |  | ( 581) |  | 0 |  | ( 581)
At 31 March 2025 | 48,981 |  | 30,351 |  | 482,627 |  | 44,753 |  | 606,712
Net book value |  |  |  |  |  |  |  |  |
At 31 March 2025 | 3,991 |  | 86,556 |  | 112,785 |  | 17,188 |  | 220,520
At 31 March 2024 | 5,857 |  | 94,350 |  | 136,418 |  | 21,485 |  | 258,110

#### 4. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2024 | 40 |  | 40
At 31 March 2025 | 40 |  | 40
Carrying value at 31 March 2025 | 40 |  | 40
Carrying value at 31 March 2024 | 40 |  | 40

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 12,325 |  | 14,074
Corporation tax | 11,968 |  | 11,706
Other debtors | 43,952 |  | 83,744
| 68,245 |  | 109,524

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 19,441 |  | 30,140
Trade creditors | 97,792 |  | 134,995
Taxation and social security | 242,983 |  | 254,799
Obligations under finance leases and hire purchase contracts | 2,026 |  | 3,471
Other creditors | 255,463 |  | 49,716
| 617,705 |  | 473,121

Bank loans are secured over a floating charge of all assets.
Obligations under Hire Purchase of £2,026 (2024: £3,471) are secured over assets to which they relate.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 7,259 |  | 24,081
Obligations under finance leases and hire purchase contracts | 0 |  | 2,314
| 7,259 |  | 26,395

Bank loans are secured over a floating charge of all assets.
Obligations under Hire Purchase of £0 (2024: £2,314) are secured over assets to which they relate.

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 9. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 493,073 |  | 795,693

#### 10. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
| 35,461 |  | 34,684

Interest was accrued daily on this balance at a standard rate of 2.25% totalling £778. The loan is repayable on demand.