Miles Kingsport Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 1621623

MILES KINGSPORT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 January 2026

MILES KINGSPORT LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2026

	2026		2025
Note	£	£	£	£

Fixed Assets

Tangible assets	5		406,829		400,684

Current Assets

Stocks		1,469,380	1,569,203
Debtors	6	83,062	74,908
Cash at bank and in hand		960,043	650,693
		-------------	-------------
		2,512,485	2,294,804

Creditors: amounts falling due within one year	7	786,555		661,318
		-------------		-------------
Net Current Assets			1,725,930		1,633,486
			-------------		-------------
Total Assets Less Current Liabilities			2,132,759		2,034,170

Provisions

Taxation including deferred tax	57,165	54,800
	-------------	-------------
Net Assets	2,075,594	1,979,370
	-------------	-------------

MILES KINGSPORT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2026

	2026		2025
Note	£	£	£	£

Capital and Reserves

Called up share capital	125	125
Share premium account	63,342	63,342
Profit and loss account	2,012,127	1,915,903
	-------------	-------------
Shareholders Funds	2,075,594	1,979,370
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2026 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 September 2026 , and are signed on behalf of the board by:

T J C Wade	R Romaine
Director	Director

Company registration number: 1621623

MILES KINGSPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2026

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 104 Witham, Hull, HU9 1AT.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	2% straight line
Fixtures and Equipment	-	10% reducing balance
Motor Vehicles	-	25% reducing balance
Office Equipment	-	25% reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 13 (2025: 13 ).

5. Tangible Assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 February 2025	238,305	290,244	206,750	10,284	745,583
Additions	–	10,949	84,000	6,373	101,322
Disposals	–	–	( 83,000)	–	( 83,000)
	----------	----------	----------	---------	----------
At 31 January 2026	238,305	301,193	207,750	16,657	763,905
	----------	----------	----------	---------	----------
Depreciation
At 1 February 2025	73,088	201,941	61,885	7,985	344,899
Charge for the year	2,269	9,926	26,461	2,168	40,824
Disposals	–	–	( 28,647)	–	( 28,647)
	----------	----------	----------	---------	----------
At 31 January 2026	75,357	211,867	59,699	10,153	357,076
	----------	----------	----------	---------	----------
Carrying amount
At 31 January 2026	162,948	89,326	148,051	6,504	406,829
	----------	----------	----------	---------	----------
At 31 January 2025	165,217	88,303	144,865	2,299	400,684
	----------	----------	----------	---------	----------

6. Debtors

	2026	2025
	£	£
Trade debtors	67,482	64,341
Other debtors	15,580	10,567
	---------	---------
	83,062	74,908
	---------	---------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Trade creditors	594,666	533,322
Social security and other taxes	49,295	57,596
Other creditors	142,594	70,400
	----------	----------
	786,555	661,318
	----------	----------