Company Registration No. 08451702 (England and Wales)
Mzuri Design Limited
Unaudited accounts
for the year ended 30 June 2023
Mzuri Design Limited
Unaudited accounts
Contents
Mzuri Design Limited
Company Information
for the year ended 30 June 2023
Directors
K A Tanner-Tremaine
P B Tanner-Tremaine
Company Number
08451702 (England and Wales)
Registered Office
Base Innovation Centre Broxhead House
60 Barbados Road
Bordon
Hampshire
GU35 0FX
England
Accountants
M A Accountancy Group
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
Mzuri Design Limited
Statement of financial position
as at 30 June 2023
Intangible assets
-
25,000
Tangible assets
5,555
6,785
Creditors: amounts falling due within one year
(98,736)
(67,491)
Net current assets
17,355
1,911
Total assets less current liabilities
22,910
33,696
Creditors: amounts falling due after more than one year
(21,594)
(32,387)
Provisions for liabilities
Deferred tax
(1,055)
(1,289)
Called up share capital
2
2
Profit and loss account
259
18
Shareholders' funds
261
20
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by
K A Tanner-Tremaine
Director
Company Registration No. 08451702
Mzuri Design Limited
Notes to the Accounts
for the year ended 30 June 2023
Mzuri Design Limited is a private company, limited by shares, registered in England and Wales, registration number 08451702. The registered office is Base Innovation Centre Broxhead House, 60 Barbados Road, Bordon, Hampshire, GU35 0FX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Mzuri Design Limited
Notes to the Accounts
for the year ended 30 June 2023
4
Intangible fixed assets
Goodwill
Charge for the year
25,000
5
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Trade debtors
35,010
22,849
Accrued income and prepayments
907
93
Other debtors
63,261
46,292
Mzuri Design Limited
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
29,564
32,231
Trade creditors
2,991
3,473
Taxes and social security
25,458
25,114
Other creditors
27,536
3,982
Deferred income
12,387
1,891
8
Creditors: amounts falling due after more than one year
2023
2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan
19,847
37,990
34,415
23,422
Loan
19,847
37,990
34,415
23,422
39,694
75,980
68,830
46,844
The above loan has been provided interest free with no fixed terms for repayment.
10
Average number of employees
During the year the average number of employees was 5 (2022: 6).