MIHK_Limited - Accounts

M.I.H.K. LIMITED - Company Information

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Company Registration No. 02959578 (England and Wales)

MIHK Limited

Unaudited abbreviated financial statements

For the year ended 31 December 2014

MIHK LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MIHK LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

27,188

31,478

Current assets

Debtors

809,872

548,303

Cash at bank and in hand

660

1,088

810,532

549,391

Creditors: amounts falling due within one year

(863,102)

(607,227)

Net current liabilities

(52,570)

(57,836)

Total assets less current liabilities

(25,382)

(26,358)

Capital and reserves

Called up share capital

Profit and loss account

(25,384)

(26,360)

Shareholders' funds

(25,382)

(26,358)

For the financial year ended 31 December 2014 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 September 2015

A C De La Mata

Director

Company Registration No. 02959578

MIHK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company made a profit during the year of £976 (2013: made a loss of £26,734), and had a deficiency of assets of £25,382 (2013: £26,358).

Improved trading in the six month period following the year end has seen the company make good the deficiency of the net current assets. Accordingly, the directors consider it appropriate to prepare these accounts on a going concern basis.

1.2

Turnover

Turnover represents the amounts derived from the sales of goods, licences, services and non-returnable advances received stated net of value added tax.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Straight line over length of lease

Fixtures, fittings & equipment

25% reducing balance

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

MIHK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

247,989

Additions

6,881

At 31 December 2014

254,870

Depreciation

At 1 January 2014

216,511

Charge for the year

11,171

At 31 December 2014

227,682

Net book value

At 31 December 2014

27,188

At 31 December 2013

31,478

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary shares of £1 each