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REGISTERED NUMBER: 13488032 (England and Wales)










Unaudited Financial Statements

for the Period 1 August 2022 to 31 October 2023

for

POP SPIT LTD

POP SPIT LTD (REGISTERED NUMBER: 13488032)






Contents of the Financial Statements
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


POP SPIT LTD

Company Information
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023







DIRECTORS: Mrs Z H Close
E Hassan





REGISTERED OFFICE: 6-8 Hanbury Street
London
E1 6QR





REGISTERED NUMBER: 13488032 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

POP SPIT LTD (REGISTERED NUMBER: 13488032)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,500 8,000
Property, plant and equipment 5 40,157 44,987
45,657 52,987

CURRENT ASSETS
Inventories 15,362 14,673
Debtors 6 645,517 300,862
Cash at bank and in hand 39,766 143,464
700,645 458,999
CREDITORS
Amounts falling due within one year 7 403,102 410,821
NET CURRENT ASSETS 297,543 48,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

343,200

101,165

CAPITAL AND RESERVES
Called up share capital 200 110
Retained earnings 343,000 101,055
SHAREHOLDERS' FUNDS 343,200 101,165

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 28 July 2024 and were signed on its behalf by:





E Hassan - Director


POP SPIT LTD (REGISTERED NUMBER: 13488032)

Notes to the Financial Statements
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023

1. STATUTORY INFORMATION

Pop Spit 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.There are no significant judgements or estimates involved in the preparation of the financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over the estimated useful live of 5 yrs.

Goodwill - 20% on straight line basis

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings - 20% on reducing balance
Plant and machinery - 20% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

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

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially
measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.


POP SPIT LTD (REGISTERED NUMBER: 13488032)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 October 2023 10,000
AMORTISATION
At 1 August 2022 2,000
Charge for period 2,500
At 31 October 2023 4,500
NET BOOK VALUE
At 31 October 2023 5,500
At 31 July 2022 8,000

POP SPIT LTD (REGISTERED NUMBER: 13488032)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 August 2022 5,000 - 51,235 56,235
Additions - 11,165 - 11,165
Disposals (5,000 ) - - (5,000 )
At 31 October 2023 - 11,165 51,235 62,400
DEPRECIATION
At 1 August 2022 1,000 - 10,248 11,248
Charge for period - 1,749 10,246 11,995
Eliminated on disposal (1,000 ) - - (1,000 )
At 31 October 2023 - 1,749 20,494 22,243
NET BOOK VALUE
At 31 October 2023 - 9,416 30,741 40,157
At 31 July 2022 4,000 - 40,987 44,987

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 20,412
Amounts owed by group undertakings 537,771 170,541
Amounts owed by connected companies 18,700 13,700
Other debtors 89,046 96,209
645,517 300,862

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 38,138 33,827
Amounts owed to group undertakings 63,077 -
Taxation and social security 217,037 134,701
Other creditors 84,850 242,293
403,102 410,821

8. RELATED PARTY DISCLOSURES

Included in debtors, amount falling due within one year, is an amount of £18,700 (2022: £13,700) owed by the connected companies. This amount is interest free and repayable on demand.

Included in debtors, amount falling due within one year, is an amount of £537,771 (2022: £170,541) owed by the group undertakings. This amount is interest free and repayable on demand.

Included in creditors, amount falling due within one year, is an amount of £63,077 (2022: £Nil) owed to the group undertakings. This amount is interest free and repayable on demand.

Included in creditors, amount falling due within one year, is an amount of £56,815 (2022: £181,000) owed to the director. This amount is interest free and repayable on demand.







POP SPIT LTD (REGISTERED NUMBER: 13488032)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 AUGUST 2022 TO 31 OCTOBER 2023

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent is MADEN GROUP LTD, incorporated in England and Wales. The ultimate controlling parties are the shareholders of Maden Group Ltd by virtue of their holding in the parent company.