2023-03-012024-02-292024-02-29false05240527MONDO UNICO 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MONDO UNICO LIMITED

Registered Number
05240527
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MONDO UNICO LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Raimondo Eraziano Guidetti

Registered Address

The Old Smithy Stocktons Courtyard
Overbury
Tewkesbury
GL20 7NT

Registered Number

05240527 (England and Wales)
MONDO UNICO LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets33,1976,389
Tangible assets436,00742,929
39,20449,318
Current assets
Stocks4,9292,679
Debtors8411,010
Cash at bank and on hand17,00519,699
22,77523,388
Creditors amounts falling due within one year(69,553)(77,624)
Net current assets (liabilities)(46,778)(54,236)
Total assets less current liabilities(7,574)(4,918)
Net assets(7,574)(4,918)
Capital and reserves
Called up share capital70,00070,000
Share premium23,00023,000
Profit and loss account(100,574)(97,918)
Shareholders' funds(7,574)(4,918)
The financial statements were approved and authorised for issue by the Director on 26 September 2024, and are signed on its behalf by:
Raimondo Eraziano Guidetti
Director
Registered Company No. 05240527
MONDO UNICO LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from rendering of services
Revenue 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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Goodwill - 5% Straight Line
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-20
Fixtures and fittings20-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year55
3.Intangible assets

Total

£
Cost or valuation
At 01 March 2363,847
At 29 February 2463,847
Amortisation and impairment
At 01 March 2357,458
Charge for year3,192
At 29 February 2460,650
Net book value
At 29 February 243,197
At 28 February 236,389
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 23196,405
Additions145
At 29 February 24196,550
Depreciation and impairment
At 01 March 23153,476
Charge for year7,067
At 29 February 24160,543
Net book value
At 29 February 2436,007
At 28 February 2342,929