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Registered number: 03670877
MOKARABIA LIMITED
Unaudited Financial Statements
For The Year Ended 26 December 2023
FIDCORP LIMITED
3rd Floor Portman House
2, Portman Street
London
W1H 6DU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03670877
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,548 2,013
Investments 5 3,512,886 3,512,886
3,514,434 3,514,899
CURRENT ASSETS
Stocks 6 41,070 63,660
Debtors 7 158,099 101,794
Cash at bank and in hand 2,910 8,045
202,079 173,499
Creditors: Amounts Falling Due Within One Year 8 (266,666 ) (277,413 )
NET CURRENT ASSETS (LIABILITIES) (64,587 ) (103,914 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,449,847 3,410,985
Creditors: Amounts Falling Due After More Than One Year 9 (1,027,974 ) (880,211 )
NET ASSETS 2,421,873 2,530,774
CAPITAL AND RESERVES
Called up share capital 10 9,287,542 9,287,542
Profit and Loss Account (6,865,669 ) (6,756,768 )
SHAREHOLDERS' FUNDS 2,421,873 2,530,774
Page 1
Page 2
For the year ending 26 December 2023 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 Marco Zanetti
Director
07/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MOKARABIA LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03670877 . The registered office is 19 Leyden Street, London, E1 7LE.
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 on cost
Motor Vehicles on cost
Fixtures & Fittings on cost
Computer Equipment on cost
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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 27 December 2022 7,474 7,937 5,756 21,167
As at 26 December 2023 7,474 7,937 5,756 21,167
Depreciation
As at 27 December 2022 6,594 7,236 5,324 19,154
Provided during the period 176 104 185 465
As at 26 December 2023 6,770 7,340 5,509 19,619
Net Book Value
As at 26 December 2023 704 597 247 1,548
As at 27 December 2022 880 701 432 2,013
5. Investments
Unlisted
£
Cost
As at 27 December 2022 3,512,886
As at 26 December 2023 3,512,886
Provision
As at 27 December 2022 -
As at 26 December 2023 -
Net Book Value
As at 26 December 2023 3,512,886
As at 27 December 2022 3,512,886
6. Stocks
2023 2022
£ £
Stock 41,070 63,660
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 71,094 78,985
Other debtors 87,005 22,809
158,099 101,794
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 178,366 187,884
Other creditors 69,074 85,864
Taxation and social security 19,226 3,665
266,666 277,413
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,723 35,616
Amounts owed to group undertakings 1,002,251 844,595
1,027,974 880,211
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 9,287,542 9,287,542
Page 5