MABLI KNITS LIMITED

Company Registration Number:
10293160 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

MABLI KNITS LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Additional notes
Balance sheet notes

MABLI KNITS LIMITED

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 268,507 280,812
Total fixed assets: 268,507 280,812
Current assets
Stocks: 4 209,806 19,000
Debtors: 5 103,668 25,732
Cash at bank and in hand: 347,883 344,884
Total current assets: 661,357 389,616
Creditors: amounts falling due within one year: 6 ( 440,535 ) ( 159,426 )
Net current assets (liabilities): 220,822 230,190
Total assets less current liabilities: 489,329 511,002
Creditors: amounts falling due after more than one year: 7 ( 106,850 ) ( 111,999 )
Provision for liabilities: ( 8,572 ) ( 10,910 )
Total net assets (liabilities): 373,907 388,093
Capital and reserves
Called up share capital: 102 102
Profit and loss account: 373,805 387,991
Total Shareholders' funds: 373,907 388,093

The notes form part of these financial statements

MABLI KNITS LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 April 2025
and signed on behalf of the board by:

Name: Mt G Drew
Status: Director

The notes form part of these financial statements

MABLI KNITS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue recognition Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Asset class Office Equipment Motor Vehicles Freehold Buildings Cash and cash equivalents Depreciation method and rate 20% per annum of cost 20%per annum of cost NIl

    Other accounting policies

    Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Leases Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease

MABLI KNITS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 4

MABLI KNITS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 223,393 38,276 23,795 285,464
Additions
Disposals
Revaluations
Transfers
At 31 July 2024 223,393 38,276 23,795 285,464
Depreciation
At 1 August 2023 3,859 793 4,652
Charge for year 7,546 4,759 12,305
On disposals
Other adjustments
At 31 July 2024 11,405 5,552 16,957
Net book value
At 31 July 2024 223,393 26,871 18,243 268,507
At 31 July 2023 223,393 34,417 23,002 280,812

MABLI KNITS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Stocks

2024 2023
£ £
Stocks 209,806 19,000
Total 209,806 19,000

MABLI KNITS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Debtors

2024 2023
£ £
Trade debtors 93,004 22,489
Other debtors 10,664 3,243
Total 103,668 25,732

MABLI KNITS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 4,742 5,475
Trade creditors 140,283 24,659
Taxation and social security 6,101 10,194
Accruals and deferred income 1,235 1,235
Other creditors 288,174 117,863
Total 440,535 159,426

MABLI KNITS LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 106,850 111,999
Total 106,850 111,999