Silverfin false false 30/11/2023 03/11/2022 30/11/2023 A L Lillis 03/11/2022 04 April 2024 The company was incorporated on 3 November 2022 and commenced trading on the same date.

The principal activity of the Company during the financial period was that of HR advisory.
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Company No: 14459808 (England and Wales)

MANDALL LTD

Unaudited Financial Statements
For the financial period from 03 November 2022 to 30 November 2023
Pages for filing with the registrar

MANDALL LTD

Unaudited Financial Statements

For the financial period from 03 November 2022 to 30 November 2023

Contents

MANDALL LTD

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
MANDALL LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 30.11.2023
£
Fixed assets
Tangible assets 3 655
655
Current assets
Debtors 4 892
Cash at bank and in hand 4,359
5,251
Creditors: amounts falling due within one year 5 ( 21,124)
Net current liabilities (15,873)
Total assets less current liabilities (15,218)
Provision for liabilities ( 164)
Net liabilities ( 15,382)
Capital and reserves
Called-up share capital 6 1
Profit and loss account ( 15,383 )
Total shareholder's deficit ( 15,382)

For the financial period ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mandall Ltd (registered number: 14459808) were approved and authorised for issue by the Director on 04 April 2024. They were signed on its behalf by:

A L Lillis
Director
MANDALL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 November 2022 to 30 November 2023
MANDALL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 November 2022 to 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Mandall Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11 Badgers Way, Stratford Upon Avon, CV37 0UJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £15,382. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
03.11.2022 to
30.11.2023
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 03 November 2022 0 0 0
Additions 242 649 891
At 30 November 2023 242 649 891
Accumulated depreciation
At 03 November 2022 0 0 0
Charge for the financial period 60 176 236
At 30 November 2023 60 176 236
Net book value
At 30 November 2023 182 473 655

4. Debtors

30.11.2023
£
Trade debtors 892

5. Creditors: amounts falling due within one year

30.11.2023
£
Trade creditors 1,063
Amounts owed to director 19,575
Other taxation and social security 486
21,124

6. Called-up share capital

30.11.2023
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1

During the period, 1 Ordinary share of £1.00 was allotted at par.

7. Related party transactions

At the year end the company owed the director £19,575. The loan is interest free with no fixed date for repayment.