2022-02-012023-01-312023-01-31false13120524Memara 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Memara Ltd

Registered Number
13120524
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

Memara Ltd
Company Information
for the year from 1 February 2022 to 31 January 2023

Director

Annabel Lord

Registered Address

Old Vicarage
South Newington Road
Barford St. Michael
OX15 0RJ

Registered Number

13120524 (England and Wales)
Memara Ltd
Statement of Financial Position
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets61,263389
1,263389
Current assets
Stocks817,31018,140
Debtors93,7793,920
Cash at bank and on hand65,66531,320
86,75453,380
Creditors amounts falling due within one year10(69,640)(41,981)
Net current assets (liabilities)17,11411,399
Total assets less current liabilities18,37711,788
Net assets18,37711,788
Capital and reserves
Called up share capital100100
Profit and loss account18,27711,688
Shareholders' funds18,37711,788
The financial statements were approved and authorised for issue by the Director on 23 October 2023, and are signed on its behalf by:
Annabel Lord
Director
Registered Company No. 13120524
Memara Ltd
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is: Old Vicarage South Newington Road Barford Saint Michael BANBURY Oxfordshire OX15 0RJ
2.Compliance with applicable reporting framework
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
3.Principal activities
The principal activity of the company is the retail sale of jewellery both direct and via the internet.
4.Accounting policies
Turnover policy
The turnover shown in the income statement represents amounts invoiced during the year for the sale of goods in the ordinary course of the company's activities. Turnover is shown exclusive of value added tax.
Property, plant and equipment policy
Tangible fixed assets are initially recorded at cost. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Straight line (years)
Fixtures and fittings3
Office Equipment3
Stocks policy
Stock of merchandise is stated at the purchase price i.e. is determined using the first-in, first-out (FIFO) method. The cost of stock which no longer has value is written off in the reporting period in which the valuation is recognised.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year00
6.Property, plant and equipment

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 February 22-499499
Additions1911,1641,355
At 31 January 231911,6631,854
Depreciation and impairment
At 01 February 22-110110
Charge for year16465481
At 31 January 2316575591
Net book value
At 31 January 231751,0881,263
At 31 January 22-389389
7.Dividends proposed and payable

2023

2022

££
Dividends Paid16,00022,000
Total16,00022,000
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
8.Stocks

2023

2022

££
Finished goods17,31018,140
Total17,31018,140
9.Debtors

2023

2022

££
Trade debtors / trade receivables3,779618
Other debtors-3,302
Total3,7793,920
Trade debtors are amounts due from customers for merchandise sold performed in the ordinary course of business.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables4,1851,873
Taxation and social security20,5087,580
Dividends payable12,0006,000
Other creditors15,24626,054
Accrued liabilities and deferred income17,701474
Total69,64041,981
Trade creditors are recognised at the initial transaction price (usually the invoice price). Included in the creditors is the director's current and loan account balances. These accounts are interest free.