Company Registration No. 09043987 (England and Wales)
MAP MAISON LIMITED
Unaudited accounts
for the year ended 31 May 2024
MAP MAISON LIMITED
Unaudited accounts
Contents
MAP MAISON LIMITED
Company Information
for the year ended 31 May 2024
Director
Joseph Martin Arowolo
Company Number
09043987 (England and Wales)
Registered Office
321 KINGSLAND ROAD
LONDON
E8 4DL
UNITED KINGDOM
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
MAP MAISON LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
5,013
5,818
Inventories
152,083
186,488
Cash at bank and in hand
7,208
48,734
Creditors: amounts falling due within one year
(121,437)
(201,467)
Net current assets
64,614
96,047
Total assets less current liabilities
69,627
101,865
Creditors: amounts falling due after more than one year
(27,327)
(32,456)
Called up share capital
100
100
Profit and loss account
42,200
69,309
Shareholders' funds
42,300
69,409
For the year ending 31 May 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 February 2025 and were signed on its behalf by
Joseph Martin Arowolo
Director
Company Registration No. 09043987
MAP MAISON LIMITED
Notes to the Accounts
for the year ended 31 May 2024
MAP MAISON LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09043987. The registered office is 321 KINGSLAND ROAD, LONDON, E8 4DL, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 4 years
Fixtures & fittings
over 4 years
Computer equipment
over 4 years
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
MAP MAISON LIMITED
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2023
44,331
1,628
7,068
53,027
At 31 May 2024
46,123
1,628
7,068
54,819
At 1 June 2023
40,763
487
5,959
47,209
Charge for the year
1,611
407
579
2,597
At 31 May 2024
42,374
894
6,538
49,806
At 31 May 2024
3,749
734
530
5,013
At 31 May 2023
3,568
1,141
1,109
5,818
Amounts falling due within one year
Amounts due from group undertakings etc.
12,821
12,648
Accrued income and prepayments
10,840
9,638
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
59,459
45,725
Trade creditors
22,716
27,927
Amounts owed to group undertakings and other participating interests
5,921
79,069
Taxes and social security
(1,488)
25,783
Other creditors
12,204
3,547
Loans from directors
272
3,797
7
Creditors: amounts falling due after more than one year
2024
2023
BBL loan backed by 100% government guarantee and financing of first year's interest by means of government grant.
MAP MAISON LIMITED
Notes to the Accounts
for the year ended 31 May 2024
8
Transactions with related parties
MAP Hospitality Limited ( Co. No. 09162662) Company is controlled by Joseph Arowolo and Cecilia Biveson
Loans given by Map Hospitality Limited totalling £5,921 (2023: £79,069)
Amount above is due to Map Hospitality Limited
Martin's Planet LIMITED ( Co. No. 07993887) Company is controlled by Joseph Arowolo and Cecilia Biveson
Loans given to Martin's Planet Limited totalling £4,300 (2023: £4,127)
Amount above is due to Map Maison Ltd
MAP and the Capital AB (a company registered in Sweden) Company is controlled by Joseph Arowolo and Cecilia Biveson
Loans given to MAP and the Capital AB totalliing £8,521 (2023: £8,521)
Amount above is due to MAP Maison Ltd
The ultimate controlling party is Martin's Planet Limited (company number 07993887) - registered address and place of business 321 Kingsland Road, London E8 4DL
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Average number of employees
During the year the average number of employees was 6 (2023: 6).