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Registered number: 11654960
Mazi Soho Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11654960
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 50,000 50,000
Tangible Assets 5 73,712 92,139
123,712 142,139
CURRENT ASSETS
Stocks 6 23,460 24,280
Debtors 7 7,242 7,551
Investments 8 12,500 12,500
Cash at bank and in hand 51,672 52,531
94,874 96,862
Creditors: Amounts Falling Due Within One Year 9 (358,882 ) (354,305 )
NET CURRENT ASSETS (LIABILITIES) (264,008 ) (257,443 )
TOTAL ASSETS LESS CURRENT LIABILITIES (140,296 ) (115,304 )
Creditors: Amounts Falling Due After More Than One Year 10 (28,271 ) (38,079 )
NET LIABILITIES (168,567 ) (153,383 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account (168,667 ) (153,483 )
SHAREHOLDERS' FUNDS (168,567) (153,383)
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Adrien Carre
Director
30/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mazi Soho Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11654960 . The registered office is 12-14 Hillgate Street, London, W8 7SR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20%
Leasehold 20%
Plant & Machinery 20%
Fixtures & Fittings 20%
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2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 16)
16 16
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 50,000
As at 30 November 2023 50,000
Net Book Value
As at 30 November 2023 50,000
As at 1 December 2022 50,000
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2022 110,609 66,868 21,028 198,505
As at 30 November 2023 110,609 66,868 21,028 198,505
Depreciation
As at 1 December 2022 59,302 36,038 11,026 106,366
Provided during the period 10,261 6,166 2,000 18,427
As at 30 November 2023 69,563 42,204 13,026 124,793
Net Book Value
As at 30 November 2023 41,046 24,664 8,002 73,712
As at 1 December 2022 51,307 30,830 10,002 92,139
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6. Stocks
2023 2022
£ £
Stock 23,460 24,280
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,242 6,858
Directors' loan accounts - 693
7,242 7,551
8. Current Asset Investments
2023 2022
£ £
Short term deposits 12,500 12,500
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 51,370 65,716
Other loans 24,409 24,409
Other taxes and social security 11,664 9,960
VAT 41,076 37,442
Net wages 21,546 25,091
Mazi Fine Foods Ltd 148,440 131,373
Mazi International 51,314 51,314
Accruals and deferred income 9,000 9,000
Directors' loan accounts 63 -
358,882 354,305
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 28,271 38,079
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11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 6