Microbira Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC621160 (Scotland)

Unaudited Financial Statements

for the Period

13 February 2019 to 31 March 2020

for

Microbira Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M L Ismail

Mr A Ismail

REGISTERED OFFICE:

6 Logie Mill

Edinburgh

EH7 4HG

REGISTERED NUMBER:

SC621160 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Intangible assets

4

730

Tangible assets

5

24,648

25,378

CURRENT ASSETS

Debtors

6

6,003

Cash at bank

44,000

50,003

CREDITORS

Amounts falling due within one year

7

98,267

NET CURRENT LIABILITIES

(48,264

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(22,886

)

CAPITAL AND RESERVES

Called up share capital

9

3,000

Retained earnings

(25,886

)

SHAREHOLDERS' FUNDS

(22,886

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2020 and were signed on its behalf by:

Mrs M L Ismail - Director

1.	STATUTORY INFORMATION

Microbira Limited is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the directors/creditors/etc.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and Machinery- 20% on cost

Computer Equipment - 20% on cost

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

943

At 31 March 2020

943

AMORTISATION

Amortisation for period

213

At 31 March 2020

213

NET BOOK VALUE

At 31 March 2020

730

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

Additions

31,598

260

31,858

At 31 March 2020

31,598

260

31,858

DEPRECIATION

Charge for period

7,151

59

7,210

At 31 March 2020

7,151

59

7,210

NET BOOK VALUE

At 31 March 2020

24,447

201

24,648

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

6,003

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

34,679

Other creditors

63,588

98,267

8.	DEFERRED TAX

£

Provided during period

(4,533

)

Balance at 31 March 2020

(4,533

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

300,000

Ordinary

1p

3,000

300,000 Ordinary shares of 1p each were allotted and fully paid for cash at par during the period.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2020:

£

Mrs M L Ismail

Balance outstanding at start of period

-

Amounts advanced

1,530

Amounts repaid

(63,318

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(61,788

)

Mr A Ismail

Balance outstanding at start of period

-

Amounts advanced

1,470

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

1,470

11.	RELATED PARTY DISCLOSURES

There was no related party transactions in the period.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M L Ismail.