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Registered number: 13747955
Malabar Gold & Diamonds Limited
Financial Statements
For The Year Ended 31 March 2024
Certax Accounting (Fitzrovia) Limited
85 Tottenham Court Road
London
W1T 4TQ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 13747955
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 90,000 100,000
Tangible Assets 5 2,509,659 32,297
2,599,659 132,297
CURRENT ASSETS
Inventory 6 8,505,404 -
Debtors 7 944,040 99,818
Cash at bank and in hand 299,879 99,457
9,749,323 199,275
Creditors: Amounts Falling Due Within One Year 8 (10,440,015 ) (424,444 )
NET CURRENT ASSETS (LIABILITIES) (690,692 ) (225,169 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,908,967 (92,872 )
Creditors: Amounts Falling Due After More Than One Year 9 (1,290,803 ) -
PROVISIONS FOR LIABILITIES
Provisions For Charges 11 (29,569 ) -
NET ASSETS/(LIABILITIES) 588,595 (92,872 )
CAPITAL AND RESERVES
Called up share capital 12 1,000,000 1,000
Income Statement (411,405 ) (93,872 )
SHAREHOLDERS' FUNDS 588,595 (92,872)
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 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 Income Statement.
The financial statements were approved by the board of directors on 20 August 2024 and were signed on its behalf by:
Ahmed Sagar EDATHODU
Director
20/08/2024
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
Malabar Gold & Diamonds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13747955 . The registered office is Berkeley Square House 2nd Floor, Mayfair, London, W1J 6BD.
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 income statement over its estimated economic life of 10 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:
Leasehold 5% Straight Line
Fixtures & Fittings 10% Straight Line
Office Equipment 10% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 4)
19 4
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 100,000
As at 31 March 2024 100,000
Amortisation
As at 1 April 2023 -
Provided during the period 10,000
As at 31 March 2024 10,000
Net Book Value
As at 31 March 2024 90,000
As at 1 April 2023 100,000
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Office Equipment Total
£ £ £ £
Cost
As at 1 April 2023 - 22,800 9,497 32,297
Additions 1,440,429 800,150 306,927 2,547,506
Other - 103,472 - 103,472
As at 31 March 2024 1,440,429 926,422 316,424 2,683,275
Depreciation
As at 1 April 2023 - - - -
Provided during the period 70,895 72,142 30,579 173,616
As at 31 March 2024 70,895 72,142 30,579 173,616
Net Book Value
As at 31 March 2024 1,369,534 854,280 285,845 2,509,659
As at 1 April 2023 - 22,800 9,497 32,297
6. Inventory
2024 2023
£ £
Materials 76,589 -
Finished goods 6,841,399 -
Goods in transit 1,225,865 -
Making Charges 361,551 -
8,505,404 -
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 97,006 -
Prepayments and accrued income 85,701 58,618
VAT - 41,200
Amounts owed by group undertakings 761,333 -
944,040 99,818
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 98,457 -
Trade creditors 22,259 804
VAT 257,797 -
Other creditors 6,127 -
PAYE Payable 14,215 -
Pensions Payable 568 -
Expense Claims - Payable 27,071 -
Amounts owed to related parties 9,954,912 423,640
Payments on account 58,609 -
10,440,015 424,444
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,290,803 -
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 98,457 -
Later than one year and not later than five years 481,861 -
Later than five years 808,942 -
1,389,260 -
1,389,260 -
11. Provisions for Liabilities
Other Provisions Total
£ £
Additions 29,569 29,569
Balance at 31 March 2024 29,569 29,569
Page 5
Page 6
12. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1,000.00 each 1,000,000 1,000
Page 6