MI Sixteen Ltd - Accounts to registrar (filleted) - small 18.2

MI Sixteen Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 06904677 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2018

for

Mi Sixteen Ltd

Mi Sixteen Ltd (Registered number: 06904677)






Contents of the Financial Statements
for the Year Ended 31 May 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mi Sixteen Ltd

Company Information
for the Year Ended 31 May 2018







DIRECTOR: Mr M Vilciu





REGISTERED OFFICE: 165 York Road
Maidstone
Kent
ME15 7QX





REGISTERED NUMBER: 06904677 (England and Wales)





ACCOUNTANTS: E Johnson & Associates
Chartered Certified Accountants
637 Green Lanes
London
N8 0RE

Mi Sixteen Ltd (Registered number: 06904677)

Balance Sheet
31 May 2018

31.5.18 31.5.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,424 17,231

CURRENT ASSETS
Debtors 5 81,104 21,195
Cash at bank 40 30,017
81,144 51,212
CREDITORS
Amounts falling due within one year 6 116,743 57,933
NET CURRENT LIABILITIES (35,599 ) (6,721 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,825

10,510

CREDITORS
Amounts falling due after more than one
year

7

7,259

8,382
NET ASSETS 7,566 2,128

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 7,466 2,028
SHAREHOLDERS' FUNDS 7,566 2,128

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

Mi Sixteen Ltd (Registered number: 06904677)

Balance Sheet - continued
31 May 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 February 2019 and were signed by:





Mr M Vilciu - Director


Mi Sixteen Ltd (Registered number: 06904677)

Notes to the Financial Statements
for the Year Ended 31 May 2018

1. STATUTORY INFORMATION

Mi Sixteen Ltd is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

Mi Sixteen Ltd (Registered number: 06904677)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2018

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2017 1,760 25,134 539 27,433
Additions - 50,000 - 50,000
At 31 May 2018 1,760 75,134 539 77,433
DEPRECIATION
At 1 June 2017 1,507 8,383 312 10,202
Charge for year 63 16,688 56 16,807
At 31 May 2018 1,570 25,071 368 27,009
NET BOOK VALUE
At 31 May 2018 190 50,063 171 50,424
At 31 May 2017 253 16,751 227 17,231

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.18 31.5.17
£    £   
Trade debtors 27,919 4,586
Other debtors 53,185 16,351
Tax recoverable - 258
81,104 21,195

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.18 31.5.17
£    £   
Other loans 33,239 -
Hire purchase contracts 29,248 6,748
Trade creditors 402 922
Corporation tax 1,700 5,607
Social security and other taxes 765 -
Wages control account 1,700 1,652
VAT 8,687 6,129
Directors' current accounts 40,423 36,075
Accrued expenses 579 800
116,743 57,933

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.18 31.5.17
£    £   
Hire purchase contracts 7,259 8,382

Mi Sixteen Ltd (Registered number: 06904677)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2018

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.5.18 31.5.17
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 June 2017 2,028
Profit for the year 40,438
Dividends (35,000 )
At 31 May 2018 7,466

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 (2017 - £17,500) were paid to the director .

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Vilciu.

By virtue of being the sole director of the company and controls 100% of the ordinary share capital of the
company.