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Registered number: 13250138
Mezcalito Islington Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
London Accountants and Partners Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13250138
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 48,807 56,374
48,807 56,374
CURRENT ASSETS
Stocks 5 6,400 6,400
Debtors 6 88,397 94,810
Cash at bank and in hand 17,525 29,632
112,322 130,842
Creditors: Amounts Falling Due Within One Year 7 (221,235 ) (226,062 )
NET CURRENT ASSETS (LIABILITIES) (108,913 ) (95,220 )
TOTAL ASSETS LESS CURRENT LIABILITIES (60,106 ) (38,846 )
NET LIABILITIES (60,106 ) (38,846 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (60,206 ) (38,946 )
SHAREHOLDERS' FUNDS (60,106) (38,846)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
L Geas
Director
8 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mezcalito Islington Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13250138 . The registered office is C/O London Accountants Hurlingham Studios, Ranelagh Gardens, London, SW6 3PA.
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. 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:
Leasehold 12 % on RLM
Plant & Machinery 15% on RLM
2.4. 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: NIL (2023: 4)
- 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2023 38,609 35,619 74,228
As at 31 March 2024 38,609 35,619 74,228
Depreciation
As at 1 April 2023 8,989 8,865 17,854
Provided during the period 3,554 4,013 7,567
As at 31 March 2024 12,543 12,878 25,421
...CONTINUED
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Net Book Value
As at 31 March 2024 26,066 22,741 48,807
As at 1 April 2023 29,620 26,754 56,374
5. Stocks
31 March 2024 31 March 2023
£ £
Stock 6,400 6,400
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 18,817 11,080
Amounts owed by group undertakings 61,460 75,610
Other debtors 8,120 8,120
88,397 94,810
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors - 416
Amounts owed to group undertakings 205,375 201,334
Other creditors 2,507 3,127
Taxation and social security 13,353 21,185
221,235 226,062
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
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