Company Registration No. 11798108 (England and Wales)
Memo South Woodford Limited
Unaudited accounts
for the year ended 31 January 2023
Memo South Woodford Limited
Unaudited accounts
Contents
Memo South Woodford Limited
Company Information
for the year ended 31 January 2023
Directors
Ali Ihsan Kaya
Mehmet Sait Dilek
Mehmet Demir
Company Number
11798108 (England and Wales)
Registered Office
146-150 George Lane
South Woodford
London
E18 1AY
UNITED KINGDOM
Accountants
Abacus Financial Accountants
12 Douglas Road
Goodmayes
London
IG3 8UX
Memo South Woodford Limited
Statement of financial position
as at 31 January 2023
Intangible assets
70,883
141,764
Tangible assets
164,509
182,468
Inventories
127,243
107,689
Cash at bank and in hand
791,180
383,840
Creditors: amounts falling due within one year
(926,412)
(646,416)
Net current assets
154,110
48,490
Net assets
389,502
372,722
Called up share capital
100
100
Profit and loss account
389,402
372,622
Shareholders' funds
389,502
372,722
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2023 and were signed on its behalf by
Mehmet Demir
Director
Company Registration No. 11798108
Memo South Woodford Limited
Notes to the Accounts
for the year ended 31 January 2023
Memo South Woodford Limited is a private company, limited by shares, registered in England and Wales, registration number 11798108. The registered office is 146-150 George Lane, South Woodford, London, E18 1AY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 5 years
Fixtures & fittings
over 5 years
Computer equipment
over 5 years
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets (including purchased goodwill) are included at cost less accumulated amortisation.
Memo South Woodford Limited
Notes to the Accounts
for the year ended 31 January 2023
4
Intangible fixed assets
Goodwill
At 1 February 2022
354,407
At 31 January 2023
354,407
At 1 February 2022
212,643
Charge for the year
70,881
At 31 January 2023
283,524
At 31 January 2022
141,764
Goodwill is being written off in equal annual installments over its estimated economic life of 5 years.
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 February 2022
276,118
20,000
296,118
At 31 January 2023
327,698
20,000
347,698
At 1 February 2022
101,650
12,000
113,650
Charge for the year
65,539
4,000
69,539
At 31 January 2023
167,189
16,000
183,189
At 31 January 2023
160,509
4,000
164,509
At 31 January 2022
174,468
8,000
182,468
Amounts falling due within one year
Trade debtors
153,475
185,413
Memo South Woodford Limited
Notes to the Accounts
for the year ended 31 January 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
57,456
50,000
Trade creditors
485,163
212,605
Taxes and social security
95,116
101,346
Proposed dividends
20,000
20,000
Loans from directors
266,277
260,065
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 10 (2022: 9).