Mi 1 Ltd

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

Registered number: 07339589

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		29,777		29,777
Tangible Assets	5		12,633		14,862

			42,410		44,639
CURRENT ASSETS
Stocks	6	2,780		3,060
Cash at bank and in hand		3,995		1,900

		6,775		4,960
Creditors: Amounts Falling Due Within One Year	7	(19,752 )		(11,630 )

NET CURRENT ASSETS (LIABILITIES)			(12,977 )		(6,670 )

TOTAL ASSETS LESS CURRENT LIABILITIES			29,433		37,969

Creditors: Amounts Falling Due After More Than One Year	8		(45,385 )		(53,020 )

NET LIABILITIES			(15,952 )		(15,051 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(16,052 )		(15,151 )

SHAREHOLDERS' FUNDS			(15,952)		(15,051)

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Mi 1 Ltd

Balance Sheet (continued)

As At 31 October 2025

For the year ending 31 October 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.

On behalf of the board

Mr ABDUL AHAD

Director

28 July 2026

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

1. General Information

Mi 1 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07339589 . The registered office is 406 Heysham Road, Heysham, Morecambe, Lancashire, LA3 2BJ.

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 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. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. 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:

Motor Vehicles	0
Fixtures & Fittings	15

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

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Mi 1 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 November 2024	29,777

As at 31 October 2025	29,777

Net Book Value
As at 31 October 2025	29,777

As at 1 November 2024	29,777

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 November 2024	31,675

As at 31 October 2025	31,675

Depreciation
As at 1 November 2024	16,813
Provided during the period	2,229

As at 31 October 2025	19,042

Net Book Value
As at 31 October 2025	12,633

As at 1 November 2024	14,862

6. Stocks

	2025	2024
	£	£
Materials	2,780	3,060

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Corporation tax	1,157	1,157
VAT	4,075	3,193
Accruals and deferred income	14,520	7,280

	19,752	11,630

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Mi 1 Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

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

	2025	2024
	£	£
Bank loans	34,785	29,619
Other loans	-	17,972
Private Loan	10,600	5,429

	45,385	53,020

9. Share Capital

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

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