Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12489538 2023-01-01 2023-12-31 12489538 2022-01-01 2022-12-31 12489538 2023-12-31 12489538 2022-12-31 12489538 c:Director1 2023-01-01 2023-12-31 12489538 d:ComputerEquipment 2023-01-01 2023-12-31 12489538 d:ComputerEquipment 2023-12-31 12489538 d:ComputerEquipment 2022-12-31 12489538 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12489538 d:CurrentFinancialInstruments 2023-12-31 12489538 d:CurrentFinancialInstruments 2022-12-31 12489538 d:Non-currentFinancialInstruments 2023-12-31 12489538 d:Non-currentFinancialInstruments 2022-12-31 12489538 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12489538 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12489538 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12489538 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12489538 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 12489538 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12489538 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 12489538 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 12489538 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 12489538 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 12489538 d:ShareCapital 2023-12-31 12489538 d:ShareCapital 2022-12-31 12489538 d:RetainedEarningsAccumulatedLosses 2023-12-31 12489538 d:RetainedEarningsAccumulatedLosses 2022-12-31 12489538 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 12489538 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 12489538 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 12489538 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 12489538 c:FRS102 2023-01-01 2023-12-31 12489538 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12489538 c:FullAccounts 2023-01-01 2023-12-31 12489538 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12489538 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 12489538









MALMON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MALMON LIMITED
REGISTERED NUMBER: 12489538

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 3 
1,666
2,475

  
1,666
2,475

Current assets
  

Stocks
 4 
17,107
99,276

Debtors: amounts falling due within one year
 5 
32,040
20,118

Cash at bank and in hand
 6 
1,344
12,383

  
50,491
131,777

Creditors: amounts falling due within one year
 7 
(15,701)
(120,839)

Net current assets
  
 
 
34,790
 
 
10,938

Total assets less current liabilities
  
36,456
13,413

Creditors: amounts falling due after more than one year
 8 
(35,400)
(41,251)

  

Net assets/(liabilities)
  
1,056
(27,838)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
56
(28,838)

  
1,056
(27,838)


Page 1

 
MALMON LIMITED
REGISTERED NUMBER: 12489538
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S D Fine
Director

Date: 28 October 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Malmon Limited is a private company limited by shares and incorporated in England & Wales (registered number: 12489538). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The principal activity of the company is ecommerce retailer of a variety of product lines, including, but not limited to, DIY, home and garden, stationery, health and beauty and leisure.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months following the approval of these financial statements.
 
As at 31 December 2023, the company had net assets of £16,056. The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
 
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

Page 3

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
4,045



At 31 December 2023

4,045



Depreciation


At 1 January 2023
1,570


Charge for the year on owned assets
809



At 31 December 2023

2,379



Net book value



At 31 December 2023
1,666



At 31 December 2022
2,475


4.


Stocks

2023
2022
£
£

Finished goods and goods for resale
17,107
99,276

17,107
99,276


Page 7

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
803
11,254

Other debtors
29,691
-

Called up share capital not paid
1,000
1,000

Prepayments and accrued income
515
357

Deferred tax asset
31
7,507

32,040
20,118



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,344
12,383

1,344
12,383



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,991
6,991

Trade creditors
3,038
60,499

Other taxation and social security
4,123
2,476

Other creditors
(1)
48,184

Accruals and deferred income
1,550
2,689

15,701
120,839



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
35,400
41,251

35,400
41,251


Page 8

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,991
6,991


6,991
6,991

Amounts falling due 1-2 years

Bank loans
6,991
6,991


6,991
6,991

Amounts falling due 2-5 years

Bank loans
27,962
27,962


27,962
27,962

Amounts falling due after more than 5 years

Bank loans
447
6,298

447
6,298

42,391
48,242



10.


Deferred taxation




2023


£






At beginning of year
7,507


Charged to profit or loss
(7,476)



At end of year
31

Page 9

 
MALMON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
10.Deferred taxation (continued)

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(417)
(619)

Tax losses carried forward
448
8,126

31
7,507

 
Page 10