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COMPANY REGISTRATION NUMBER: 10232978
MAJO CANDLES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
MAJO CANDLES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
MAJO CANDLES LIMITED
BALANCE SHEET
30 June 2023
2023
2022
Note
£
£
Current assets
Stocks
4
285
1,174
Debtors
5
58
66
Cash at bank and in hand
504
902
------------
------------
847
2,142
Creditors: amounts falling due within one year
6
( 49,954)
( 46,296)
------------
------------
Net current liabilities
( 49,107)
( 44,154)
------------
------------
Total assets less current liabilities
( 49,107)
( 44,154)
------------
------------
Net liabilities
( 49,107)
( 44,154)
------------
------------
Capital and reserves
Called up share capital
7
1
1
Profit and loss account
( 49,108)
( 44,155)
------------
------------
Shareholders deficit
( 49,107)
( 44,154)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 February 2024 , and are signed on behalf of the board by:
Ms J L Curtis
Director
Company registration number: 10232978
MAJO CANDLES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Mulberry House, Victoria Park Square, London, E2 9PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Stocks
2023
2022
£
£
Finished goods and goods for resale
285
1,174
------------
------------
5. Debtors
2023
2022
£
£
Other debtors
58
66
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,300
1,300
Director loan accounts
44,739
43,495
Other creditors
3,915
1,501
------------
------------
49,954
46,296
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
------------
------------
------------
------------
8. Related party transactions
The director's loan of £44,739 (2022: £43,495) set out above is unsecured, repayable on demand and currently interest free. Included in creditors is a loan owing to a company controlled by the director in the amount of £3,915 (2022: £1,501). This loan is unsecured, repayable on demand and currently interest free The company is controlled by the director.
9. Going concern
The director has indicated that she will provide adequate working capital to enable the company to continue to trade for at least 12 months from the date of approval of these financial statements. Consequently, the accounts have been prepared on a going concern basis.