Caseware UK (AP4) 2022.0.179 2022.0.179 false2022-05-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.running sandwich bars44truetrue 05048020 2022-05-01 2023-04-30 05048020 2021-05-01 2022-04-30 05048020 2023-04-30 05048020 2022-04-30 05048020 c:Director1 2022-05-01 2023-04-30 05048020 d:PlantMachinery 2022-05-01 2023-04-30 05048020 d:PlantMachinery 2023-04-30 05048020 d:PlantMachinery 2022-04-30 05048020 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 05048020 d:CurrentFinancialInstruments 2023-04-30 05048020 d:CurrentFinancialInstruments 2022-04-30 05048020 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05048020 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 05048020 d:ShareCapital 2023-04-30 05048020 d:ShareCapital 2022-04-30 05048020 d:RetainedEarningsAccumulatedLosses 2023-04-30 05048020 d:RetainedEarningsAccumulatedLosses 2022-04-30 05048020 c:FRS102 2022-05-01 2023-04-30 05048020 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 05048020 c:FullAccounts 2022-05-01 2023-04-30 05048020 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05048020 e:PoundSterling 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure
Registered number: 05048020





 
Make Mine Limited          
 
Financial statements          

For the year ended 30 April 2023          

 
Make Mine Limited
Registered number:05048020

Balance sheet
As at 30 April 2023


2023

2022 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
14,152
15,280

Current assets
  

Stock
 5 
7,450
4,950

Debtors
 6 
157,718
98,556

Cash at bank and in hand
  
13,875
37,658

  
179,043
141,164

Creditors: amounts falling due within one year
 7 
(42,683)
(53,574)

Net current assets
  
 
 
136,360
 
 
87,590

  

Net assets
  
150,512
102,870


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
150,412
102,770

  
150,512
102,870


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 22 February 2024.




Batuhan Isiksalan
Director


The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
Make Mine Limited
 
 
Notes to the financial statements
For the year ended 30 April 2023

1.


General information

Make Mine Limited is a private company limited by shares. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ. Its principal place of business is 86 Dean Street, London, W1D 3SR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
Make Mine Limited
 
 
Notes to the financial statements
For the year ended 30 April 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rate:

Plant and machinery
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 3

 
Make Mine Limited
 
 
Notes to the financial statements
For the year ended 30 April 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Page 4

 
Make Mine Limited
 
 
Notes to the financial statements
For the year ended 30 April 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Page 5

 
Make Mine Limited
 
 
Notes to the financial statements
For the year ended 30 April 2023

3.


Employees

2023
2022
£
£

Wages and salaries
73,521
61,980

Social security costs
7,258
5,586

Cost of defined contribution scheme
1,668
1,277

82,447
68,843


The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
1
1



Staff
3
3

4
4


4.


Tangible fixed assets





Plant and machinery

£



Cost


At 1 May 2022
65,706


Additions
2,750



At 30 April 2023

68,456



Depreciation


At 1 May 2022
50,426


Charge for the year
3,878



At 30 April 2023

54,304



Net book value



At 30 April 2023
14,152



At 30 April 2022
15,280

Page 6

 
Make Mine Limited
 
 
Notes to the financial statements
For the year ended 30 April 2023

5.


Stock

2023
2022
£
£

Goods for resale
7,450
4,950



6.


Debtors

2023
2022
£
£


Trade debtors
2,211
1,445

Amounts owed by related parties
127,831
60,456

Other debtors
-
1,737

Prepayments
27,676
34,918

157,718
98,556



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
35,507
41,710

Amounts owed to related parties
-
4,352

Taxation and social security
1,674
4,158

Other creditors
191
311

Accruals
5,311
3,043

42,683
53,574



8.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £1,668 (2022 - £1,277). Contributions totalling £190 (2022 - £312) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
Make Mine Limited
 
 
Notes to the financial statements
For the year ended 30 April 2023

9.


Related party transactions

At the balance sheet date the company was owed £63,721 (2022 - £51,489) by Wayrest Limited and was owed £27,217 (2022 - £8,967) by Prix Fixe Limited, both of which are related party companies. In addition, the company was owed £17,392 (2022 - £4,352 creditor) to Civilpack Limited and was owed £19,502 (2022 - £Nil) by Sana Bana Limited, both of which are also related party companies. None of these balances are subject to any interest charge.

 
Page 8