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REGISTERED NUMBER: 06499978 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MASHUMBA LIMITED

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASHUMBA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr S Craddock
Mrs C Craddock





SECRETARY: Mr S Craddock





REGISTERED OFFICE: 1 Stretton Road
Greetham
Oakham
Rutland
LE15 7NP





REGISTERED NUMBER: 06499978 (England and Wales)

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,685 42,450
22,685 42,450

CURRENT ASSETS
Stocks 15,645 15,749
Debtors 6 4,143 13,956
Cash at bank 9,981 13,116
29,769 42,821
CREDITORS
Amounts falling due within one year 7 57,925 60,120
NET CURRENT LIABILITIES (28,156 ) (17,299 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,471

)

25,151

CREDITORS
Amounts falling due after more than one year 8 (12,232 ) (16,947 )

PROVISIONS FOR LIABILITIES 9 (4,310 ) (8,066 )
NET (LIABILITIES)/ASSETS (22,013 ) 138

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

BALANCE SHEET - continued
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (22,015 ) 136
(22,013 ) 138

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:





Mr S Craddock - Director


MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Mashumba Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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. As at 28 February 2023 the liabilities exceed the assets by £22,015. Continuation to trade depends upon the support of the company's director. Should the company be unable to continue to trade, adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further liabilities which may arise, and to reclassify fixed assets as current.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. The company supplies products to customers under standard terms and conditions. In all cases turnover is recognised when the risks and rewards of ownership are transferred and this is defined to be on exchange of the goods.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 37,000
AMORTISATION
At 1 March 2022
and 28 February 2023 37,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 March 2022 24,696 161,262 185,958
Additions - 1,967 1,967
At 28 February 2023 24,696 163,229 187,925
DEPRECIATION
At 1 March 2022 23,523 119,985 143,508
Charge for year 1,173 20,559 21,732
At 28 February 2023 24,696 140,544 165,240
NET BOOK VALUE
At 28 February 2023 - 22,685 22,685
At 28 February 2022 1,173 41,277 42,450

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,485 2,505
Directors' current accounts 1,658 5,612
Taxation - 5,839
4,143 13,956

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,875 4,897
Trade creditors 23,900 35,963
Taxation and social security 22,102 12,552
Other creditors 7,048 6,708
57,925 60,120

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 12,232 16,947

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred taxation 4,310 8,066

Deferred
tax
£   
Balance at 1 March 2022 8,066
Movement (3,756 )
Balance at 28 February 2023 4,310

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Mr S Craddock
Balance outstanding at start of year 5,612 -
Amounts advanced 13,063 21,641
Amounts repaid (17,017 ) (16,029 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,658 5,612

The loan is repayable on demand.