Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-312021-11-01falsebrand licensing2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2falsetrue 11336061 2021-11-01 2022-10-31 11336061 2020-11-01 2021-10-31 11336061 2022-10-31 11336061 2021-10-31 11336061 c:Director1 2021-11-01 2022-10-31 11336061 d:CurrentFinancialInstruments 2022-10-31 11336061 d:CurrentFinancialInstruments 2021-10-31 11336061 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11336061 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 11336061 d:ShareCapital 2022-10-31 11336061 d:ShareCapital 2021-10-31 11336061 d:RetainedEarningsAccumulatedLosses 2022-10-31 11336061 d:RetainedEarningsAccumulatedLosses 2021-10-31 11336061 c:OrdinaryShareClass1 2021-11-01 2022-10-31 11336061 c:OrdinaryShareClass1 2022-10-31 11336061 c:FRS102 2021-11-01 2022-10-31 11336061 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 11336061 c:FullAccounts 2021-11-01 2022-10-31 11336061 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 11336061 2 2021-11-01 2022-10-31 11336061 d:ShareCapitalOtherShareTypes 2022-10-31 11336061 d:ShareCapitalOtherShareTypes 2021-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11336061














MADIP LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

 
MADIP LTD
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 4

 
MADIP LTD
REGISTERED NUMBER:11336061

BALANCE SHEET
AS AT 31 OCTOBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
7,904
107,533

Cash at bank and in hand
 5 
114,804
11,571

  
122,708
119,104

Creditors: amounts falling due within one year
 6 
(118,757)
(133,404)

Net current assets/(liabilities)
  
 
 
3,951
 
 
(14,300)

Total assets less current liabilities
  
3,951
(14,300)

  

Net assets/(liabilities)
  
3,951
(14,300)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
3,851
(14,400)

  
3,951
(14,300)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J C Russo
Director

Date: 27 October 2023

The notes on pages 2 to 4 form part of these financial statements.

1

 
MADIP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1.


General information

Madip Ltd is a private company, limited by shares, registered in England and Wales, registration number 11336061. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE and the trading address is 9 Maddox Street, Mayfair, London, W1S 2QE. 
The principal activity of the company is that of brand licensing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover from brand licensing is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Interest income

Interest income is recognised in profit and loss account using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit and loss account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2

 
MADIP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without panalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Debtors

2022
2021
£
£


Other debtors
1,104
75,505

Prepayments and accrued income
6,800
32,028

7,904
107,533



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
114,804
11,571



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
114,899
1,069

Accruals and deferred income
3,858
132,335

118,757
133,404


3

 
MADIP LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1,000 (2021 - 100) Ordinary shares of £0.10 (2021 - £1.00) each
100
100

On 30 November 2021, 100 ordinary shares of £1.00 each were subdivided into 1,000 ordinary shares of £0.10 each.


8.


Related party transactions

Included within other debtors at the year end is an amount due from a company under common control £Nil (2021 - £75,505). The loan is interest free and repayable on demand.
Included within other creditors at the year end is amounts due to companies under common control £114,899 (2021 - £1,069). The loan is interest free and payable on demand.
 
4