Minauk.Com Ltd
Registered number: 06058865
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,159 2,006
Current assets
Stocks 122,184 213,458
Debtors 4 74,424 101,484
Cash at bank and in hand 528 556
197,136 315,498
Creditors: amounts falling due within one year 5 (106,247) (187,796)
Net current assets 90,889 127,702
Total assets less current liabilities 92,048 129,708
Creditors: amounts falling due after more than one year 6 (23,274) (33,205)
Net assets 68,774 96,503
Capital and reserves
Called up share capital 100 100
Profit and loss account 68,674 96,403
Shareholders' funds 68,774 96,503
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Y H Yang
Director
Approved by the board on 16 October 2024
Minauk.Com Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
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
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 3,388
At 29 February 2024 3,388
Depreciation
At 1 March 2023 1,382
Charge for the year 847
At 29 February 2024 2,229
Net book value
At 29 February 2024 1,159
At 28 February 2023 2,006
4 Debtors 2024 2023
£ £
Trade debtors 17,026 6,000
Other debtors 57,398 95,484
74,424 101,484
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 16,367 71,427
Corporation tax 966 1,848
Other taxes and social security costs 38 1,553
Other creditors 88,876 112,968
106,247 187,796
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 23,274 33,205
7 Other information
Minauk.Com Ltd is a private company limited by shares and incorporated in England. Its registered office is:
87 Lambton Road
London
SW20 0LW
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