| Minty Corporation Ltd |
| Notes to the Accounts |
| for the year ended 28 February 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Other Operating Income |
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Other operating income is recognised at the fair value of the consideration received or receivable in respect of rental income. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. |
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Investments |
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Investment properties comprises a commercial property from which rental income is derived. Investment properties are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to ensure that the carrying amounts do not differ materially from those that would be determined using fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.
Any revaluation increase in the carrying amount of investment properties is recognised in other comprehensive income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss to the extent of the decrease previously expended. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued carrying amount of the asset recognised in profit or loss and depreciation based on the asset’s original cost is transferred from revaluation reserve to retained earnings. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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| 2 |
Employees |
2026 |
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2025 |
| Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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| 3 |
Investment Property |
| £ |
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Cost |
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At 1 March 2025 |
262,313 |
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At 28 February 2026 |
262,313 |
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The company's freehold investment property portfolio comprises commercial property held at their historical cost of £262,313. No valuation has been carried out during the current financial year; and accordingly the property continues to be stated at their existing carrying value.
No depreciation is charged on freehold investment property. |
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| 4 |
Creditors: amounts falling due within one year |
2026 |
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2025 |
| £ |
£ |
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Taxation and social security costs |
852 |
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- |
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Other creditors |
283,056 |
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275,170 |
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283,908 |
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275,170 |
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| 5 |
Controlling party |
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The director, Mr Kin Hang Lau, holds a 100% beneficial interest in the share capital of the company. |
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| 6 |
Other information |
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Minty Corporation Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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6 Mills Chase |
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Bracknell, Berkshire |
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England |
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RG12 9RE |