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Registration number: 11656434

Mavididi Ltd

Unaudited Financial Statements

for the Year Ended 30 November 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Mavididi Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Mavididi Ltd

Company Information

Directors

S Mavididi

B Sady

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Mavididi Ltd

Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

20

Current assets

 

Debtors

5

3,818

6,813

Cash at bank and in hand

 

83

32

 

3,901

6,845

Creditors: Amounts falling due within one year

6

(3,000)

(3,677)

Net current assets

 

901

3,168

Net assets

 

901

3,188

Capital and reserves

 

Called up share capital

100

100

Retained earnings

801

3,088

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 14 March 2024 and signed on its behalf by:
 

.........................................

S Mavididi

Director

Company registration number: 11656434

 

Mavididi Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the ownership and exploitation of image rights.

2

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

4

Intangible assets

Image Rights
 £

Total
£

Cost or valuation

At 1 December 2022

100

100

At 30 November 2023

100

100

Amortisation

At 1 December 2022

80

80

Amortisation charge

20

20

At 30 November 2023

100

100

Carrying amount

At 30 November 2023

-

-

At 30 November 2022

20

20

 

Mavididi Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Debtors

2023
£

2022
£

Other debtors

3,818

6,813

3,818

6,813

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Taxation and social security

-

677

Accruals and deferred income

3,000

3,000

3,000

3,677

7

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.