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Registered Number: 09687553
England and Wales

 

 

 

MAD HATTER (SHREWSBURY) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Directors Mr George Marneros
Mr Andreas Marneros
Registered Number 09687553
Registered Office First Floor, Hagley Court
40 Vicarage Road, Edgbaston
Birmingham
United Kingdom
B15 3EZ
Accountants Marneros Marcus & Co Limited
First Floor Hagley Court
40 Vicarage Road Edgbaston
Birmingham
B153EZ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 185,977    155,169 
185,977    155,169 
Current assets      
Stocks 4 7,400    3,950 
Debtors 5 162,219    158,454 
Cash at bank and in hand 65,870    96,917 
235,489    259,321 
Creditors: amount falling due within one year 6 (282,076)   (306,133)
Net current assets (46,587)   (46,812)
 
Total assets less current liabilities 139,390    108,357 
Creditors: amount falling due after more than one year 7 (18,334)   (28,328)
Provisions for liabilities 8 (19,474)   (19,474)
Net assets 101,582    60,555 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 101,482    60,455 
Shareholders' funds 101,582    60,555 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 19 March 2025 and were signed on its behalf by:


-------------------------------
Mr George Marneros
Director
2
General Information
Mad Hatter (Shrewsbury) Ltd is a private company, limited by shares, registered in England and Wales, registration number 09687553, registration address First Floor, Hagley Court, 40 Vicarage Road, Edgbaston, Birmingham, United Kingdom, B15 3EZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on the basis that the company is a going concern and that the directors will continue to support the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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 basis:
Fixtures and Fittings 10% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 15 (2023 : 15).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Improvements to property   Total
  £   £   £   £   £
At 01 August 2023 33,396      213,961      247,357 
Additions   6,604    20,019    28,116    54,739 
Disposals        
At 31 July 2024 33,396    6,604    233,980    28,116    302,096 
Depreciation
At 01 August 2023     92,188      92,188 
Charge for year   660    23,271      23,931 
On disposals        
At 31 July 2024   660    115,459      116,119 
Net book values
Closing balance as at 31 July 2024 33,396    5,944    118,521    28,116    185,977 
Opening balance as at 01 August 2023 33,396      121,773      155,169 


4.

Stocks

2024
£
  2023
£
Stocks 7,400    3,950 
7,400    3,950 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   2,991 
Other Debtors 151,937    148,787 
PAYE & Social Security 3,907   
155,844    151,778 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 6,375    6,676 
6,375    6,676 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 178,053    30,059 
PAYE & Social Security   1,686 
Other Creditors 62,807    213,646 
Directors' Current Accounts 20,562    49,844 
VAT 20,654    10,898 
282,076    306,133 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 18,334    28,328 
18,334    28,328 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 19,474    19,474 
19,474    19,474 

3