19 01/09/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-09-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09157349 2023-09-01 2024-08-31 09157349 2024-08-31 09157349 2023-08-31 09157349 2022-09-01 2023-08-31 09157349 2023-08-31 09157349 2022-08-31 09157349 core:PlantMachinery 2023-09-01 2024-08-31 09157349 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 09157349 bus:Director2 2023-09-01 2024-08-31 09157349 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 09157349 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 09157349 core:PlantMachinery 2023-08-31 09157349 core:FurnitureFittingsToolsEquipment 2023-08-31 09157349 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 09157349 core:LandBuildings core:LongLeaseholdAssets 2024-08-31 09157349 core:PlantMachinery 2024-08-31 09157349 core:FurnitureFittingsToolsEquipment 2024-08-31 09157349 core:WithinOneYear 2024-08-31 09157349 core:WithinOneYear 2023-08-31 09157349 core:AfterOneYear 2024-08-31 09157349 core:AfterOneYear 2023-08-31 09157349 core:ShareCapital 2024-08-31 09157349 core:ShareCapital 2023-08-31 09157349 core:RetainedEarningsAccumulatedLosses 2024-08-31 09157349 core:RetainedEarningsAccumulatedLosses 2023-08-31 09157349 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 09157349 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 09157349 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 09157349 core:PlantMachinery 2023-08-31 09157349 core:FurnitureFittingsToolsEquipment 2023-08-31 09157349 bus:SmallEntities 2023-09-01 2024-08-31 09157349 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09157349 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09157349 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09157349 bus:FullAccounts 2023-09-01 2024-08-31
Company registration number: 09157349
Mariga Limited
Financial statements
31 August 2024
Mariga Limited
Statement of financial position
31st August 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets - -
Tangible assets 5 2,501,148 2,014,536
__________ __________
2,501,148 2,014,536
Current assets
Stocks 5,000 3,500
Debtors 6 10,000 -
Cash at bank and in hand 323,181 50,876
__________ __________
338,181 54,376
Creditors: amounts falling due
within one year 7 ( 307,113) ( 212,171)
__________ __________
Net current assets/(liabilities) 31,068 ( 157,795)
__________ __________
Total assets less current liabilities 2,532,216 1,856,741
Creditors: amounts falling due
after more than one year 8 ( 1,437,383) ( 996,369)
Provisions for liabilities ( 5,647) ( 3,539)
__________ __________
Net assets 1,089,186 856,833
__________ __________
Capital and reserves
Called up share capital 100 100
Profit and loss account 945,507 701,053
__________ __________
Shareholders funds 945,607 701,153
__________ __________
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 December 2024 , and are signed on behalf of the board by:
Demetrios Christophorou
Director
Company registration number: 09157349
Mariga Limited
Notes to the financial statements
Year ended 31st August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 80 Coleman Street, London, EC2R 5BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 33 % straight line
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 19 (2023: 16 ).
5. Tangible assets
Freehold property Long leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £ £
Cost
At 1st September 2023 783,069 1,212,843 1,457 57,884 2,055,253
Additions 483,417 - 1,951 7,165 492,533
__________ __________ __________ __________ __________
At 31st August 2024 1,266,486 1,212,843 3,408 65,049 2,547,786
__________ __________ __________ __________ __________
Depreciation
At 1st September 2023 - - 1,317 39,400 40,717
Charge for the year - - 792 5,129 5,921
__________ __________ __________ __________ __________
At 31st August 2024 - - 2,109 44,529 46,638
__________ __________ __________ __________ __________
Carrying amount
At 31st August 2024 1,266,486 1,212,843 1,299 20,520 2,501,148
__________ __________ __________ __________ __________
At 31st August 2023 783,069 1,212,843 140 18,484 2,014,536
__________ __________ __________ __________ __________
6. Debtors
2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,000 -
__________ __________
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 123,334 90,449
Corporation tax 100,549 53,001
Social security and other taxes 46,789 37,348
Other creditors 36,441 31,373
__________ __________
307,113 212,171
__________ __________
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 977,383 736,369
Other creditors 460,000 260,000
__________ __________
1,437,383 996,369
__________ __________