3 false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 6,000 2,283 8,283 1,022 1,452 2,474 4,978 xbrli:pure xbrli:shares iso4217:GBP 14129913 2023-04-01 2024-03-31 14129913 2024-03-31 14129913 2023-03-31 14129913 2022-05-25 2023-03-31 14129913 2023-03-31 14129913 core:PlantMachinery 2023-04-01 2024-03-31 14129913 core:NetGoodwill 2023-04-01 2024-03-31 14129913 bus:Director1 2023-04-01 2024-03-31 14129913 core:NetGoodwill 2023-03-31 14129913 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 14129913 core:NetGoodwill 2024-03-31 14129913 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 14129913 core:PlantMachinery 2023-03-31 14129913 core:WithinOneYear 2024-03-31 14129913 core:WithinOneYear 2023-03-31 14129913 core:ShareCapital 2024-03-31 14129913 core:ShareCapital 2023-03-31 14129913 core:RetainedEarningsAccumulatedLosses 2024-03-31 14129913 core:RetainedEarningsAccumulatedLosses 2023-03-31 14129913 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 14129913 core:NetGoodwill 2023-03-31 14129913 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 14129913 core:PlantMachinery 2023-03-31 14129913 bus:SmallEntities 2023-04-01 2024-03-31 14129913 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14129913 bus:FullAccounts 2023-04-01 2024-03-31 14129913 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14129913 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 14129913
Mantra Jewellery Limited
Filleted Unaudited Financial Statements
31 March 2024
Mantra Jewellery Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Mantra Jewellery Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
5,981
7,881
Tangible assets
6
4,978
-------
--------
5,981
12,859
Current assets
Stocks
64,653
Debtors
7
387
8,134
Cash at bank and in hand
8,081
7,838
-------
--------
8,468
80,625
Creditors: amounts falling due within one year
8
6,257
97,956
-------
--------
Net current assets/(liabilities)
2,211
( 17,331)
-------
--------
Total assets less current liabilities
8,192
( 4,472)
-------
-------
Net assets/(liabilities)
8,192
( 4,472)
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
8,190
( 4,474)
-------
-------
Shareholders funds/(deficit)
8,192
( 4,472)
-------
-------
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 statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mantra Jewellery Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 8 April 2024 , and are signed on behalf of the board by:
Mr MD McQuillan
Director
Company registration number: 14129913
Mantra Jewellery Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Lamorna Court, 43 Wollaton Road, Beeston, Nottingham, NG9 2NG.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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.
Income tax
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5 years
Patents, trademarks and licences
-
5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).
5. Intangible assets
Goodwill
Patents, trademarks and licences
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
5,500
4,000
9,500
-------
-------
-------
Amortisation
At 1 April 2023
937
682
1,619
Charge for the year
1,100
800
1,900
-------
-------
-------
At 31 March 2024
2,037
1,482
3,519
-------
-------
-------
Carrying amount
At 31 March 2024
3,463
2,518
5,981
-------
-------
-------
At 31 March 2023
4,563
3,318
7,881
-------
-------
-------
6. Tangible assets
Plant and machinery
£
Cost
At 1 April 2023
6,000
Additions
2,283
Disposals
( 8,283)
-------
At 31 March 2024
-------
Depreciation
At 1 April 2023
1,022
Charge for the year
1,452
Disposals
( 2,474)
-------
At 31 March 2024
-------
Carrying amount
At 31 March 2024
-------
At 31 March 2023
4,978
-------
7. Debtors
2024
2023
£
£
Trade debtors
387
7,132
Other debtors
1,002
----
-------
387
8,134
----
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,753
1,113
Social security and other taxes
3,504
Other creditors
96,843
-------
--------
6,257
97,956
-------
--------