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REGISTERED NUMBER: 06382556 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Handmade Company (UK) Limited
Trading as
Musango

Handmade Company (UK) Limited (Registered number: 06382556)
Trading as Musango






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Handmade Company (UK) Limited
Trading as Musango

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs E H Aldous-Fountain
J C Aldous-Fountain





SECRETARY: J C Aldous-Fountain





REGISTERED OFFICE: Unit 8, Centenary Park
Skylon Central
Rotherwas
Hereford
HR2 6FJ





REGISTERED NUMBER: 06382556 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Handmade Company (UK) Limited (Registered number: 06382556)
Trading as Musango

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,284 -
Tangible assets 5 240,756 3,533
244,040 3,533

CURRENT ASSETS
Stocks 16,915 12,615
Debtors 6 14,806 9,586
Cash at bank 56,604 105,529
88,325 127,730
CREDITORS
Amounts falling due within one year 7 67,135 36,645
NET CURRENT ASSETS 21,190 91,085
TOTAL ASSETS LESS CURRENT LIABILITIES 265,230 94,618

CREDITORS
Amounts falling due after more than one
year

8

(96,307

)

-

PROVISIONS FOR LIABILITIES (1,797 ) (671 )
NET ASSETS 167,126 93,947

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Retained earnings 166,125 92,946
167,126 93,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Handmade Company (UK) Limited (Registered number: 06382556)
Trading as Musango

Balance Sheet - continued
29 February 2024


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 2 October 2024 and were signed on its behalf by:





Mrs E H Aldous-Fountain - Director


Handmade Company (UK) Limited (Registered number: 06382556)
Trading as Musango

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Handmade Company (UK) Limited 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.

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.

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

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Taxation
Taxation for the year 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.


Handmade Company (UK) Limited (Registered number: 06382556)
Trading as Musango

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 3,340
At 29 February 2024 3,340
AMORTISATION
Charge for year 56
At 29 February 2024 56
NET BOOK VALUE
At 29 February 2024 3,284

Handmade Company (UK) Limited (Registered number: 06382556)
Trading as Musango

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 - 7,650 8,110 8,914 24,674
Additions 236,107 - 1,868 1,119 239,094
At 29 February 2024 236,107 7,650 9,978 10,033 263,768
DEPRECIATION
At 1 March 2023 - 7,650 6,330 7,161 21,141
Charge for year 237 - 916 718 1,871
At 29 February 2024 237 7,650 7,246 7,879 23,012
NET BOOK VALUE
At 29 February 2024 235,870 - 2,732 2,154 240,756
At 28 February 2023 - - 1,780 1,753 3,533

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,306 2,465
Other debtors 6,500 7,121
14,806 9,586

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,879 -
Trade creditors 1,892 8,117
Taxation and social security 36,051 23,957
Other creditors 12,313 4,571
67,135 36,645

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 96,307 -

Handmade Company (UK) Limited (Registered number: 06382556)
Trading as Musango

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 5,242 5,242
Between one and five years 1,311 6,553
6,553 11,795

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mrs E H Aldous-Fountain
Balance outstanding at start of year (1,515 ) 2,796
Amounts advanced 25,436 1,509
Amounts repaid (18,581 ) (5,820 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,340 (1,515 )

The loan account is repayable on demand and interest is charged on the overdrawn balance at the HMRC approved rate.