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Registered number: 12712763
MAZO MK Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Terra Finance Ltd
Castle Court
41 London Road
Reigate
Surrey
RH2 9RJ
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 12712763
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 647 863
647 863
CURRENT ASSETS
Debtors 5 7,824 351
Cash at bank and in hand 471 716
8,295 1,067
Creditors: Amounts Falling Due Within One Year 6 (8,652 ) (1,332 )
NET CURRENT ASSETS (LIABILITIES) (357 ) (265 )
TOTAL ASSETS LESS CURRENT LIABILITIES 290 598
NET ASSETS 290 598
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 288 596
SHAREHOLDERS' FUNDS 290 598
Page 1
Page 2
For the year ending 31 July 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Petya Dimitrova
Director
Mr Marios Katsounotos
Director
8th April 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 August 2022 2 (5,284 ) (5,282)
Profit for the year and total comprehensive income - 5,880 5,880
As at 31 July 2023 and 1 August 2023 2 596 598
Profit for the year and total comprehensive income - 5,892 5,892
Dividends paid - (6,200) (6,200)
As at 31 July 2024 2 288 290
Page 3
Page 4
Notes to the Financial Statements
1. General Information
MAZO MK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12712763 . The registered office is 8 Grainger Close , Basingstoke, England, RG22 4DY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 August 2023 2,046
As at 31 July 2024 2,046
Depreciation
As at 1 August 2023 1,183
Provided during the period 216
As at 31 July 2024 1,399
Net Book Value
As at 31 July 2024 647
As at 1 August 2023 863
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,174 351
Prepayments and accrued income 6,650 -
7,824 351
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 60 719
Bank loans and overdrafts 4,976 -
Corporation tax 1,353 -
Other taxes and social security 313 275
VAT 1,893 333
Directors' loan accounts 57 5
8,652 1,332
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 6