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REGISTERED NUMBER: 13374806 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

MAVRIK INNOVATIONS LTD

MAVRIK INNOVATIONS LTD (Registered number: 13374806)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAVRIK INNOVATIONS LTD

Company Information
for the Year Ended 31 August 2023







DIRECTORS: G Owens
J J Miller





REGISTERED OFFICE: Unit 17C
Kingsway Buildings
Bridgend Industrial Estate
Bridgend
CF31 3YH





REGISTERED NUMBER: 13374806 (England and Wales)





ACCOUNTANTS: Fernlea Accounting Limited
84 Fernlea Park
Bryncoch
Neath
SA10 7SX

MAVRIK INNOVATIONS LTD (Registered number: 13374806)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 47,119 49,992

CURRENT ASSETS
Stocks 13,484 25,569
Debtors 5 25,094 17,191
Cash at bank 9,246 6,273
47,824 49,033
CREDITORS
Amounts falling due within one year 6 40,706 29,701
NET CURRENT ASSETS 7,118 19,332
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,237

69,324

CREDITORS
Amounts falling due after more than one
year

7

(24,624

)

(62,558

)

PROVISIONS FOR LIABILITIES (4,729 ) -
NET ASSETS 24,884 6,766

MAVRIK INNOVATIONS LTD (Registered number: 13374806)

Balance Sheet - continued
31 August 2023

31.8.23 31.8.22
Notes £ £ £ £
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 24,882 6,764
24,884 6,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:




G Owens - Director



J J Miller - Director


MAVRIK INNOVATIONS LTD (Registered number: 13374806)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

MAVRIK INNOVATIONS LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost, 20% on cost and 15% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

MAVRIK INNOVATIONS LTD (Registered number: 13374806)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 September 2022 56,519
Additions 7,943
Disposals (1,875 )
At 31 August 2023 62,587
DEPRECIATION
At 1 September 2022 6,527
Charge for year 9,477
Eliminated on disposal (536 )
At 31 August 2023 15,468
NET BOOK VALUE
At 31 August 2023 47,119
At 31 August 2022 49,992

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
At 1 September 2022
and 31 August 2023 16,000
DEPRECIATION
At 1 September 2022 1,330
Charge for year 3,200
At 31 August 2023 4,530
NET BOOK VALUE
At 31 August 2023 11,470
At 31 August 2022 14,670

MAVRIK INNOVATIONS LTD (Registered number: 13374806)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£ £
Trade debtors 23,094 17,191
Other debtors 2,000 -
25,094 17,191

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£ £
Hire purchase contracts (see note 8) 2,934 2,485
Trade creditors 6,366 3,160
Taxation and social security 11,461 5,498
Other creditors 19,945 18,558
40,706 29,701

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£ £
Hire purchase contracts (see note 8) 9,624 12,558
Other creditors 15,000 50,000
24,624 62,558

MAVRIK INNOVATIONS LTD (Registered number: 13374806)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.23 31.8.22
£ £
Gross obligations repayable:
Within one year 4,544 4,544
Between one and five years 11,758 16,302
16,302 20,846

Finance charges repayable:
Within one year 1,610 2,059
Between one and five years 2,134 3,744
3,744 5,803

Net obligations repayable:
Within one year 2,934 2,485
Between one and five years 9,624 12,558
12,558 15,043

Non-cancellable
operating leases
31.8.23 31.8.22
£ £
Within one year 29,083 -
Between one and five years 33,614 -
62,697 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£ £
Hire purchase contracts 12,558 15,043