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Company No: 12032467 (England and Wales)

DAVID MANDEL AND ASSOCIATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

DAVID MANDEL AND ASSOCIATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

DAVID MANDEL AND ASSOCIATES LIMITED

BALANCE SHEET

As at 31 December 2023
DAVID MANDEL AND ASSOCIATES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,259 1,640
1,259 1,640
Current assets
Debtors 4 53,971 2,522
Cash at bank and in hand 11,690 148,796
65,661 151,318
Creditors: amounts falling due within one year 5 ( 52,380) ( 202,554)
Net current assets/(liabilities) 13,281 (51,236)
Total assets less current liabilities 14,540 (49,596)
Provision for liabilities ( 173) 0
Net assets/(liabilities) 14,367 ( 49,596)
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 14,366 ( 49,597 )
Total shareholder's funds/(deficit) 14,367 ( 49,596)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of David Mandel and Associates Limited (registered number: 12032467) were approved and authorised for issue by the Board of Directors on 09 September 2024. They were signed on its behalf by:

D Mandel
Director
DAVID MANDEL AND ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
DAVID MANDEL AND ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

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

General information and basis of accounting

David Mandel and Associates Limited (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 Ground Floor, 90 Victoria Street, Bristol, BS1 6DP, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, 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 5 years straight line
Computer equipment 5 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.

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 Balance Sheet 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 January 2023 177 1,730 1,907
At 31 December 2023 177 1,730 1,907
Accumulated depreciation
At 01 January 2023 24 243 267
Charge for the financial year 35 346 381
At 31 December 2023 59 589 648
Net book value
At 31 December 2023 118 1,141 1,259
At 31 December 2022 153 1,487 1,640

4. Debtors

2023 2022
£ £
Trade debtors 49,361 1,522
Amounts owed by Group undertakings 3,446 0
Other debtors 1,164 1,000
53,971 2,522

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,900 70
Amounts owed to Group undertakings 22,239 178,523
Accruals 4,550 8,133
Corporation tax 3,523 0
Other taxation and social security 10,640 15,573
Other creditors 5,528 255
52,380 202,554

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Ultimate controlling party

David Mandel and Associates Limited is a wholly owned subsidiary of David Mandel & Associates, LLC, a company incorporated in the United States of America.