Registration number:
Mavididi Ltd
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Mavididi Ltd
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Mavididi Ltd
Company Information
Directors |
S Mavididi B Sady |
Registered office |
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Accountants |
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Mavididi Ltd
Statement of Financial Position as at 30 November 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
801 |
3,088 |
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Shareholders' funds |
901 |
3,188 |
For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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S Mavididi
Director
Company registration number: 11656434
Mavididi Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
The principal activity of the company is that of the ownership and exploitation of image rights.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The nature of the company's activities are such that the revenues generated are based on contractual entitlements which are unaffected by external factors. The company's affairs are straight forward with few fixed overheads.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Revenue recognition
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 and other sales related taxes.
Turnover is recognised evenly over the period to which the intellectual property is utilised.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Mavididi Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Image rights |
Straight line over 5 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company during the year, was
Intangible assets |
Image Rights |
Total |
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Cost or valuation |
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At 1 December 2022 |
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At 30 November 2023 |
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Amortisation |
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At 1 December 2022 |
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Amortisation charge |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Mavididi Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Debtors |
2023 |
2022 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Taxation and social security |
- |
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Accruals and deferred income |
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Transactions with directors |
At 30 November 2023 an amount of £3,282 (2022: £6,107) was due from the directors. During the year, there were advances of £4,000 and repayments of £6,825. Interest of £Nil (2022: £103) has been charged at 2% p.a. and there are no agreed terms in place.