Registration number: 12365394

Mings Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Mings Ltd

(Registration number: 12365394)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	32,000	38,400
Tangible assets	5	11,057	11,876
		43,057	50,276
Current assets
Stocks		1,289	1,332
Debtors	6	527	701
Cash at bank and in hand		71,956	51,069
		73,772	53,102
Creditors: Amounts falling due within one year	7	(32,712)	(30,600)
Net current assets		41,060	22,502
Total assets less current liabilities		84,117	72,778
Creditors: Amounts falling due after more than one year	7	(81,430)	(70,500)
Provisions for liabilities		(2,101)	(2,256)
Net assets		586	22
Capital and reserves
Called up share capital		2	2
Retained earnings		584	20
Shareholders' funds		586	22

Mings Ltd

(Registration number: 12365394)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 May 2026 and signed on its behalf by:
 

......................................... P M Su Director

......................................... S C Y Su Director

Mings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
165 Radcliffe New Road
Whitefield
Manchester
M45 7RG
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Mings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% Reducing balance basis
Motor vehicles	20% Reducing balance basis
Office Equipment	Straight line over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight Line 10 Years

Mings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 6).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	64,000	64,000
At 31 December 2025	64,000	64,000
Amortisation
At 1 January 2025	25,600	25,600
Amortisation charge	6,400	6,400
At 31 December 2025	32,000	32,000
Carrying amount
At 31 December 2025	32,000	32,000
At 31 December 2024	38,400	38,400

Mings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2025	3,617	17,995	12,195	33,807
Additions	-	-	1,324	1,324
At 31 December 2025	3,617	17,995	13,519	35,131
Depreciation
At 1 January 2025	3,617	12,098	6,216	21,931
Charge for the year	-	1,180	963	2,143
At 31 December 2025	3,617	13,278	7,179	24,074
Carrying amount
At 31 December 2025	-	4,717	6,340	11,057
At 31 December 2024	-	5,897	5,979	11,876

6

Debtors

Current	2025 £	2024 £
Other debtors	527	701
	527	701

Mings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	350	990
Taxation and social security	10,487	7,436
Other creditors	21,875	22,174
	32,712	30,600

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other creditors	81,430	70,500

8	Related party transactions

Transactions with directors

Summary of transactions with other related parties

As at 31 December 2025, the directors were owed £101,430 by the company.

This amount in interest free, repayable on demand and shown within other creditors.