Company Registration No. 13175980 (England and Wales)
MUNZ MADE IT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
MUNZ MADE IT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
MUNZ MADE IT LTD
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MUNZ MADE IT LTD FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Munz Made It Ltd for the year ended 28 February 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Munz Made It Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Munz Made It Ltd and state those matters that we have agreed to state to the Board of Directors of Munz Made It Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Munz Made It Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Munz Made It Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Munz Made It Ltd. You consider that Munz Made It Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Munz Made It Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
27 November 2023
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
MUNZ MADE IT LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,827
4,785
Current assets
Debtors
4
188,062
235,127
Cash at bank and in hand
973,268
642,085
1,161,330
877,212
Creditors: amounts falling due within one year
5
(205,978)
(262,810)
Net current assets
955,352
614,402
Total assets less current liabilities
958,179
619,187
Provisions for liabilities
(300)
-
0
Net assets
957,879
619,187
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
957,779
619,087
Total equity
957,879
619,187

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 27 November 2023
Mr M O Chawawa
Director
Company Registration No. 13175980
MUNZ MADE IT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

Munz Made It Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance basis
Fixtures and fittings
25% reducing balance basis
Computer equipment
33% straight line basis
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

MUNZ MADE IT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

 

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).

MUNZ MADE IT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 March 2022 and 28 February 2023
638
116
5,492
6,246
Depreciation and impairment
At 1 March 2022
146
24
1,291
1,461
Depreciation charged in the year
123
23
1,812
1,958
At 28 February 2023
269
47
3,103
3,419
Carrying amount
At 28 February 2023
369
69
2,389
2,827
At 28 February 2022
492
92
4,201
4,785
MUNZ MADE IT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
187,359
128,590
Other debtors
703
106,537
188,062
235,127
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
29,908
8,092
Taxation and social security
172,710
252,468
Other creditors
3,360
2,250
205,978
262,810
2023-02-282022-03-01false27 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr M O Chawawafalse131759802022-03-012023-02-28131759802023-02-28131759802022-02-2813175980core:PlantMachinery2023-02-2813175980core:FurnitureFittings2023-02-2813175980core:ComputerEquipment2023-02-2813175980core:PlantMachinery2022-02-2813175980core:FurnitureFittings2022-02-2813175980core:ComputerEquipment2022-02-2813175980core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2813175980core:CurrentFinancialInstrumentscore:WithinOneYear2022-02-2813175980core:CurrentFinancialInstruments2023-02-2813175980core:CurrentFinancialInstruments2022-02-2813175980core:ShareCapital2023-02-2813175980core:ShareCapital2022-02-2813175980core:RetainedEarningsAccumulatedLosses2023-02-2813175980core:RetainedEarningsAccumulatedLosses2022-02-2813175980bus:Director12022-03-012023-02-2813175980core:PlantMachinery2022-03-012023-02-2813175980core:FurnitureFittings2022-03-012023-02-2813175980core:ComputerEquipment2022-03-012023-02-28131759802021-02-032022-02-2813175980core:PlantMachinery2022-02-2813175980core:FurnitureFittings2022-02-2813175980core:ComputerEquipment2022-02-28131759802022-02-2813175980core:WithinOneYear2023-02-2813175980core:WithinOneYear2022-02-2813175980bus:PrivateLimitedCompanyLtd2022-03-012023-02-2813175980bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-2813175980bus:FRS1022022-03-012023-02-2813175980bus:AuditExemptWithAccountantsReport2022-03-012023-02-2813175980bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP