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REGISTERED NUMBER: 06499978 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

MASHUMBA LIMITED

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASHUMBA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr S Craddock
Mrs C Craddock





SECRETARY: Mr S Craddock





REGISTERED OFFICE: 1 Stretton Road
Greetham
Oakham
Rutland
LE15 7NP





REGISTERED NUMBER: 06499978 (England and Wales)

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,763 22,685
12,763 22,685

CURRENT ASSETS
Stocks 17,589 15,645
Debtors 6 12,907 4,143
Cash at bank 6,572 9,981
37,068 29,769
CREDITORS
Amounts falling due within one year 7 70,485 57,925
NET CURRENT LIABILITIES (33,417 ) (28,156 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,654

)

(5,471

)

CREDITORS
Amounts falling due after more than one year 8 (7,220 ) (12,232 )

PROVISIONS FOR LIABILITIES 9 (2,425 ) (4,310 )
NET LIABILITIES (30,299 ) (22,013 )

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

BALANCE SHEET - continued
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (30,301 ) (22,015 )
(30,299 ) (22,013 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr S Craddock - Director


MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Mashumba Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. As at 28 February 2023 the liabilities exceed the assets by £30,299 (2023: £22,013). Continuation to trade depends upon the support of the company's director. Should the company be unable to continue to trade, adjustments would have to be made to reduce the assets to their recoverable amount, to provide for any further liabilities which may arise, and to reclassify fixed assets as current.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. The company supplies products to customers under standard terms and conditions. In all cases turnover is recognised when the risks and rewards of ownership are transferred and this is defined to be on exchange of the goods.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Creditors
Short term trade 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 11 ) .

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 37,000
AMORTISATION
At 1 March 2023
and 29 February 2024 37,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 March 2023 24,696 163,229 187,925
Additions - 5,105 5,105
At 29 February 2024 24,696 168,334 193,030
DEPRECIATION
At 1 March 2023 24,696 140,544 165,240
Charge for year - 15,027 15,027
At 29 February 2024 24,696 155,571 180,267
NET BOOK VALUE
At 29 February 2024 - 12,763 12,763
At 28 February 2023 - 22,685 22,685

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,450 2,485
Directors' current accounts 10,979 1,658
Prepayments and accrued income 478 -
12,907 4,143

MASHUMBA LIMITED (REGISTERED NUMBER: 06499978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,100 4,875
Trade creditors 33,620 23,900
Taxation and social security 22,823 22,102
Other creditors 6,942 7,048
70,485 57,925

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,220 12,232

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred taxation 2,425 4,310

Deferred
tax
£   
Balance at 1 March 2023 4,310
Movement (1,885 )
Balance at 29 February 2024 2,425

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr S Craddock
Balance outstanding at start of year 1,658 5,612
Amounts advanced 24,506 13,063
Amounts repaid (15,185 ) (17,017 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,979 1,658

The loan is repayable on demand.