Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09153495 Mr Mirko Kusturin P & T Secretaries Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09153495 2023-07-31 09153495 2024-07-31 09153495 2023-08-01 2024-07-31 09153495 frs-core:CurrentFinancialInstruments 2024-07-31 09153495 frs-core:ComputerEquipment 2024-07-31 09153495 frs-core:ComputerEquipment 2023-08-01 2024-07-31 09153495 frs-core:ComputerEquipment 2023-07-31 09153495 frs-core:FurnitureFittings 2024-07-31 09153495 frs-core:FurnitureFittings 2023-08-01 2024-07-31 09153495 frs-core:FurnitureFittings 2023-07-31 09153495 frs-core:MotorVehicles 2024-07-31 09153495 frs-core:MotorVehicles 2023-08-01 2024-07-31 09153495 frs-core:MotorVehicles 2023-07-31 09153495 frs-core:OtherResidualIntangibleAssets 2024-07-31 09153495 frs-core:OtherResidualIntangibleAssets 2023-07-31 09153495 frs-core:PlantMachinery 2024-07-31 09153495 frs-core:PlantMachinery 2023-08-01 2024-07-31 09153495 frs-core:PlantMachinery 2023-07-31 09153495 frs-core:ShareCapital 2024-07-31 09153495 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09153495 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09153495 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09153495 frs-bus:SmallEntities 2023-08-01 2024-07-31 09153495 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09153495 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09153495 1 2023-08-01 2024-07-31 09153495 frs-core:UnlistedNon-exchangeTraded 2024-07-31 09153495 frs-core:UnlistedNon-exchangeTraded 2023-07-31 09153495 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-07-31 09153495 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-07-31 09153495 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-07-31 09153495 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-07-31 09153495 frs-bus:Director1 2023-08-01 2024-07-31 09153495 frs-bus:Director1 2023-07-31 09153495 frs-bus:Director1 2024-07-31 09153495 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 09153495 frs-core:CurrentFinancialInstruments 2 2024-07-31 09153495 frs-core:CurrentFinancialInstruments 3 2024-07-31 09153495 frs-core:CurrentFinancialInstruments 4 2024-07-31 09153495 frs-core:CurrentFinancialInstruments 9 2024-07-31 09153495 frs-countries:EnglandWales 2023-08-01 2024-07-31 09153495 2022-07-31 09153495 2023-07-31 09153495 2022-08-01 2023-07-31 09153495 frs-core:CurrentFinancialInstruments 2023-07-31 09153495 frs-core:ShareCapital 2023-07-31 09153495 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09153495 frs-core:CurrentFinancialInstruments 2 2023-07-31 09153495 frs-core:CurrentFinancialInstruments 3 2023-07-31 09153495 frs-core:CurrentFinancialInstruments 4 2023-07-31 09153495 frs-core:CurrentFinancialInstruments 7 2023-07-31 09153495 frs-core:CurrentFinancialInstruments 9 2023-07-31
Registered number: 09153495
Mk Wine Art Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 09153495
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 25,904 26,198
Investments 6 8,567 8,567
34,471 34,765
CURRENT ASSETS
Stocks 7 90,000 40,000
Debtors 8 123,132 74,933
Cash at bank and in hand 11,005 27,244
224,137 142,177
Creditors: Amounts Falling Due Within One Year 9 (1,014,385 ) (1,158,372 )
NET CURRENT ASSETS (LIABILITIES) (790,248 ) (1,016,195 )
TOTAL ASSETS LESS CURRENT LIABILITIES (755,777 ) (981,430 )
NET LIABILITIES (755,777 ) (981,430 )
CAPITAL AND RESERVES
Called up share capital 10 50,000 50,000
Profit and Loss Account (805,777 ) (1,031,430 )
SHAREHOLDERS' FUNDS (755,777) (981,430)
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 member has 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.
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
Mr Mirko Kusturin
Director
23/04/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Mk Wine Art Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09153495 . The registered office is 19 The Circle, Queen Elizabeth Street, London, SE1 2JE.
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:
Plant & Machinery 25% WDV
Watch 25% WDV
Restaurant Furniture 25% WDV
Office Equipment 25% WDV
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
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Page 3
4. Intangible Assets
Other
£
Cost
As at 1 August 2023 52,593
As at 31 July 2024 52,593
Amortisation
As at 1 August 2023 52,593
As at 31 July 2024 52,593
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Plant & Machinery Watch Restaurant Furniture Office Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 48,689 18,667 4,115 4,441 75,912
Additions - 8,159 - - 8,159
As at 31 July 2024 48,689 26,826 4,115 4,441 84,071
Depreciation
As at 1 August 2023 42,502 1,319 2,783 3,110 49,714
Provided during the period 1,547 6,240 333 333 8,453
As at 31 July 2024 44,049 7,559 3,116 3,443 58,167
Net Book Value
As at 31 July 2024 4,640 19,267 999 998 25,904
As at 1 August 2023 6,187 17,348 1,332 1,331 26,198
6. Investments
Unlisted
£
Cost
As at 1 August 2023 8,567
As at 31 July 2024 8,567
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 8,567
As at 1 August 2023 8,567
MK Wine Art Ltd invested in Vini Dal Mondo SRL, an Italian company for £8,567 (€10,000) with a holding of 100% during the year.
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Page 4
7. Stocks
2024 2023
£ £
Finished goods 90,000 40,000
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 71,855 22,239
Prepayments and accrued income - 7,500
Garden Restaurant - Deposit 10,000 10,000
Loan Vini dal Mondo - 28,194
Loan - Nadia - 7,000
Other debtors 41,277 -
123,132 74,933
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 521,818 764,705
Bank loans and overdrafts 46,719 53,214
Loan - DRS - 105,000
Other taxes and social security 3,802 10,049
VAT 49,487 37,201
Net wages 9,528 9,522
Loan from Daniel Carnio Ltd 8,576 -
Loan from F Gaballo 26,021 -
Loan Youlend 48,000 -
Accruals and deferred income 2,333 2,042
Pension payable 866 1,476
Director's loan account 297,235 175,163
1,014,385 1,158,372
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50,000 50,000
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Mirko Kusturin 175,163 122,072 - - 297,235
The above loan is unsecured, interest free and repayable on demand.
Page 4
Page 5
12. Related Party Transactions
During the year, company has repaid the loan to Vini Dal Mondo of £23,194. Therefore after considering the loan for the year 2024 the total loan balance at the year end stands of £0.00 (2023 : £23,194).
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr Mirko Kusturin by virtue of his ownership of 75% or more of the issued share capital in the company.
Page 5