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REGISTERED NUMBER: 09768501 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Mayku Ltd

Mayku Ltd (Registered number: 09768501)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mayku Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Devereux
B W R Redford
A Smilansky





REGISTERED OFFICE: The Biscuit Factory
Unit K401 Kala Studios
100 Drummond Road
London
SE16 4DG





REGISTERED NUMBER: 09768501 (England and Wales)





ACCOUNTANTS: Oculus Accountancy Limited
Chartered Accountants
83 Victoria Street
London
SW1H 0HW

Mayku Ltd (Registered number: 09768501)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,977 27,600

CURRENT ASSETS
Stocks 491,776 856,051
Debtors 5 591,899 808,811
Cash at bank 167,290 426,583
1,250,965 2,091,445
CREDITORS
Amounts falling due within one year 6 (580,952 ) (415,486 )
NET CURRENT ASSETS 670,013 1,675,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

684,990

1,703,559

CREDITORS
Amounts falling due after more than one
year

7

(314,013

)

(349,726

)
NET ASSETS 370,977 1,353,833

CAPITAL AND RESERVES
Called up share capital 306 281
Share premium 7,235,001 6,639,471
Retained earnings (6,864,330 ) (5,285,919 )
370,977 1,353,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Mayku Ltd (Registered number: 09768501)

Balance Sheet - continued
31 December 2023


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 8 February 2024 and were signed on its behalf by:





A Smilansky - Director


Mayku Ltd (Registered number: 09768501)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mayku Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write
off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment - 33.33% on a straight line
Office equipment - 33.33% on a straight line

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 11 ) .

Mayku Ltd (Registered number: 09768501)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
office Computer
equipment equipment Totals
£    £    £   
COST
At 1 January 2023 17,679 56,952 74,631
Additions 416 856 1,272
At 31 December 2023 18,095 57,808 75,903
DEPRECIATION
At 1 January 2023 12,066 34,965 47,031
Charge for year 2,655 11,240 13,895
At 31 December 2023 14,721 46,205 60,926
NET BOOK VALUE
At 31 December 2023 3,374 11,603 14,977
At 31 December 2022 5,613 21,987 27,600

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 222,646 280,544
Other debtors 369,253 528,267
591,899 808,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 29,365 -
Trade creditors 160,948 215,149
Taxation and social security 93,767 25,532
Other creditors 296,872 174,805
580,952 415,486

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 314,013 349,726

8. RELATED PARTY DISCLOSURES

Directors

At the date of the financial statements, the directors owed the company £16,167 (2022: £16,167).

Mayku Ltd (Registered number: 09768501)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. GOING CONCERN

The financial statements have been prepared on a going concern basis. The company incurred losses during the year, however the directors have a reasonable expectation that trading will improve once the research and development stage has been completed and the company is fully operational. The directors have assessed the impact of Covid-19 on the business model, and the directors believe it will not materially affect the ability of the company to trade in the future.The directors are also of the opinion that the company as sufficient cash resources to meet its immediate obligations, if and when due and hence believe that they should continue to adopt the going concern basis of accounting in preparing the financial statements.