Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31truetrue2022-08-01falseNo description of principal activity77The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08147173 2022-08-01 2023-07-31 08147173 2021-08-01 2022-07-31 08147173 2023-07-31 08147173 2022-07-31 08147173 c:Director1 2022-08-01 2023-07-31 08147173 d:Buildings 2022-08-01 2023-07-31 08147173 d:Buildings 2023-07-31 08147173 d:Buildings 2022-07-31 08147173 d:Buildings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08147173 d:PlantMachinery 2022-08-01 2023-07-31 08147173 d:PlantMachinery 2023-07-31 08147173 d:PlantMachinery 2022-07-31 08147173 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08147173 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08147173 d:Goodwill 2023-07-31 08147173 d:Goodwill 2022-07-31 08147173 d:CurrentFinancialInstruments 2023-07-31 08147173 d:CurrentFinancialInstruments 2022-07-31 08147173 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08147173 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08147173 d:ShareCapital 2023-07-31 08147173 d:ShareCapital 2022-07-31 08147173 d:RetainedEarningsAccumulatedLosses 2023-07-31 08147173 d:RetainedEarningsAccumulatedLosses 2022-07-31 08147173 c:OrdinaryShareClass1 2022-08-01 2023-07-31 08147173 c:OrdinaryShareClass1 2023-07-31 08147173 c:OrdinaryShareClass1 2022-07-31 08147173 c:FRS102 2022-08-01 2023-07-31 08147173 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08147173 c:FullAccounts 2022-08-01 2023-07-31 08147173 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08147173 d:WithinOneYear 2023-07-31 08147173 d:WithinOneYear 2022-07-31 08147173 2 2022-08-01 2023-07-31 08147173 d:Goodwill d:OwnedIntangibleAssets 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08147173














MATT AMINOFF LONDON LIMITED
UNAUDITED
 FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2023

 
MATT AMINOFF LONDON LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
MATT AMINOFF LONDON LIMITED
REGISTERED NUMBER:08147173

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
10,000

Tangible assets
 5 
2,207
2,477

  
2,207
12,477

Current assets
  

Stocks
 6 
544,449
420,492

Debtors: amounts falling due within one year
 7 
494,192
519,659

Bank and cash balances
  
370,713
371,233

  
1,409,354
1,311,384

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(522,497)
(582,162)

Net current assets
  
 
 
886,857
 
 
729,222

  

Net assets
  
889,064
741,699


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
888,964
741,599

  
889,064
741,699


Page 1

 
MATT AMINOFF LONDON LIMITED
REGISTERED NUMBER:08147173
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The director considers 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 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 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 statement of comprehensive income 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 on 2 February 2024.




D Aminoff
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MATT AMINOFF LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Matt Aminoff London Limited is a limited liability company registered in England and Wales.  Its registered office address is at 6-7 Hatton Garden, London, EC1N 8AD.
The principal activity of the Company during the year was that of wholesale of watches and jewellery.

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 GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Turnover

Turnover is measured at the fair value of amounts receivable in respect of goods and services provided in the year, net of trade discounts and excluding value added tax.
The Company recognises revenue from goods when the goods are delivered to the customer. Revenue from services is recognised when all contractual obligations have been met.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
MATT AMINOFF LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accrual model as permitted by FRS102. Grant of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure. 

 
2.6

Interest income

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

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.10

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.

Page 4

 
MATT AMINOFF LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Freehold property
-
Over the lease term
Plant and machinery
-
5 years straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties. 
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs.  Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs.  Subsequently they are measure at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. 
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. 

Page 5

 
MATT AMINOFF LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
100,000



At 31 July 2023

100,000



Amortisation


At 1 August 2022
90,000


Charge for the year on owned assets
10,000



At 31 July 2023

100,000



Net book value



At 31 July 2023
-



At 31 July 2022
10,000



Page 6

 
MATT AMINOFF LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 August 2022
6,822
24,686
31,508


Additions
-
885
885


Disposals
-
(18,258)
(18,258)



At 31 July 2023

6,822
7,313
14,135



Depreciation


At 1 August 2022
6,822
22,209
29,031


Charge for the year on owned assets
-
1,155
1,155


Disposals
-
(18,258)
(18,258)



At 31 July 2023

6,822
5,106
11,928



Net book value



At 31 July 2023
-
2,207
2,207



At 31 July 2022
-
2,477
2,477


6.


Stocks

2023
2022
£
£

Consumables
544,449
420,492



7.


Debtors

2023
2022
£
£


Trade debtors
459,529
486,232

Other debtors
14,850
14,850

Prepayments and accrued income
19,813
18,577

494,192
519,659


Page 7

 
MATT AMINOFF LONDON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
266,574
433,104

Other taxation and social security
191,214
139,326

Other creditors
6,640
3,436

Accruals and deferred income
58,069
6,296

522,497
582,162



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary Shares shares of £1 each
100
100



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,015 (2022 - £2,074).


11.


Commitments under operating leases

At 31 July 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
36,920
55,380

 
Page 8