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Company registration number: |
11308820
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MINZU LIMITED
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 April 2024 |
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MINZU LIMITED |
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BALANCE SHEET |
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AS AT 30 April 2024
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2024 |
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2023 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 36,547 | | | | 42,796 | |
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| | | | | | | 36,547 | | | | 42,796 | |
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CURRENT ASSETS |
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Stocks | | | | 4,589 | | | | 4,994 | | | | |
Debtors | | | | 111,779 | | | | 110,842 | | | | |
Cash at bank and in hand | | | | 88,072 | | | | 49,387 | | | | |
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| | | | | 204,440 | | | | 165,223 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(191,893) |
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(153,750) |
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NET CURRENT ASSETS |
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12,547 |
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11,473 |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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49,094 |
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54,269 |
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Creditors falling due after one year | | | | | (10,000) | | | | (18,000) | |
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PROVISIONS FOR LIABILITIES | | | | | (4,288) | | | | (3,793) | |
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NET ASSETS |
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34,806 |
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32,476 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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100 |
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Profit and loss account |
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34,706 |
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32,376 |
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SHAREHOLDERS FUNDS |
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34,806 |
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32,476 |
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For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 15 October 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
M W Lew |
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15 October 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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MINZU LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2024 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: | |
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| Plant and Machinery - 20% per annum of cost | |
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| Fixtures and Fittings - 25% reducing balance basis. | |
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| Land and buildings - over length of lease | |
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| Stocks and Work In Progress | | | | | | | |
| Stocks are valued at the lower of cost and net realisable value. | |
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| Government grants | | | | | | | |
| Grants are credited to the profit and loss account in the period during which entitlement arises. |
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| Deferred Taxation | | | | | | | | |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date. | |
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| Pension Scheme | | | | | | | | |
| The company operates a statutory contribution pension scheme. The pension charge is the amount payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 14. |
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3. | Tangible fixed assets | | | | | | | | | |
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Total |
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| Cost | | | | | | | | | | |
| At start of period | | 99,226 | |
| Additions | | | 4,950 | |
| At end of period | | 104,176 | |
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| Depreciation | | | | | | | | | | |
| At start of period | | 56,430 | |
| Provided during the period | | 11,199 | |
| At end of period | | 67,629 | |
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| Net Book Value | | | | | | | | | |
| At start of period | | 42,796 | |
| At end of period | | 36,547 | |
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4. | Debtors | | | | | | | |
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| Debtors include £107,038 (2023 £107,038) In respect of amounts due after more than one year. |
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| Other debtors due after one year, includes an amount of £107,038, categorised as such as the directors consider it unlikely that this amount will be repaid within 12 months of the Balance Sheet date. |
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5. | Related Party Transactions | | | | | | | | |
| The directors have maintained interest-free loans to the company. The balances outstanding at the balance sheet date totalled £131,691, The company occupies business premises which are held under a lease between two of its directors and an unconnected third party. The company has agreed to meet the annual rent due and all other occupier's property costs under the lease whilst it is the occupier of the premises. During the period, the company paid dividends totalling £60,000 to its directors. Other debtors due within one year includes an amount of £107,038 loaned to a company under common control and management. The loan is interest free and has no fixed terms of repayment. | |
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6. | Pension costs | | | | | | | | |
| The company operates a statutory contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. | |
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