Company Registration No. 08483505 (England and Wales)
MI.MU LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018
PAGES FOR FILING WITH REGISTRAR
MI.MU LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MI.MU LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2018
31 August 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
4
-
5,384
Cash at bank and in hand
-
4,659
-
10,043
Creditors: amounts falling due within one year
5
-
(6,650)
Net current assets
-
3,393
Reserves
Income and expenditure account
-
3,393
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.
true
For the financial period ended 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 March 2019 and are signed on its behalf by:
A Stark
Director
Company Registration No. 08483505
MI.MU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2018
- 2 -
1
Accounting policies
Company information
MI.MU LIMITED is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
5A Bear Lane, Southwark, London, SE1 0UH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
The entity's accounting period end has been extended to 30 April 2018 from 31 August 2018, as the company is to be dissolved to the near future. Comparative amounts presented in the financial statements are therefore not entirely comparable.
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
33% p.a. straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to surplus or deficit
.
1.5
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
MI.MU LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2018
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 5
(2017 - 5).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2017 and 31 August 2018
600
Depreciation and impairment
At 1 May 2017 and 31 August 2018
600
Carrying amount
At 31 August 2018
-
At 30 April 2017
-
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
-
525
Other debtors
-
4,859
-
5,384
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
140
Other creditors
-
6,510
-
6,650
6
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.