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REGISTERED NUMBER: 05801587 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Mapino Limited

Mapino Limited (Registered number: 05801587)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Mapino Limited (Registered number: 05801587)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £ £
Fixed assets
Tangible assets 4 5,501,292 1,748,407

Current assets
Stocks 5 90,000 159,000
Debtors 6 295,640 356,925
Cash at bank 20,345 20,318
405,985 536,243
Creditors
Amounts falling due within one year 7 (469,063 ) (570,518 )
Net current liabilities (63,078 ) (34,275 )
Total assets less current liabilities 5,438,214 1,714,132

Creditors
Amounts falling due after more than
one year

8

(1,652,266

)

(1,652,266

)

Provisions for liabilities 10 (938,329 ) -
Net assets 2,847,619 61,866

Capital and reserves
Called up share capital 1 1
Revaluation reserve 11 3,753,316 -
Retained earnings 11 (905,698 ) 61,865
Shareholders' funds 2,847,619 61,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mapino Limited (Registered number: 05801587)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 May 2025 and were signed by:





Muzaffar Ahmad - Director


Mapino Limited (Registered number: 05801587)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. Statutory information

Mapino Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05801587

Registered office: Unit 5 4a
Manorgate Road
Kingston
KT2 7EL

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Mapino Limited (Registered number: 05801587)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

4. Tangible fixed assets
Fixtures
Freehold and Motor
property fittings vehicles Totals
£ £ £ £
Cost or valuation
At 1 June 2023 1,746,684 9,440 27,000 1,783,124
Revaluations 3,753,316 - - 3,753,316
At 31 May 2024 5,500,000 9,440 27,000 5,536,440
Depreciation
At 1 June 2023 - 9,369 25,348 34,717
Charge for year - 18 413 431
At 31 May 2024 - 9,387 25,761 35,148
Net book value
At 31 May 2024 5,500,000 53 1,239 5,501,292
At 31 May 2023 1,746,684 71 1,652 1,748,407

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Freehold and Motor
property fittings vehicles Totals
£ £ £ £
Valuation in 2024 3,753,316 - - 3,753,316
Cost 1,746,684 9,440 27,000 1,783,124
5,500,000 9,440 27,000 5,536,440

Mapino Limited (Registered number: 05801587)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. Stocks
31.5.24 31.5.23
£ £
Raw materials 90,000 159,000

6. Debtors: amounts falling due within one year
31.5.24 31.5.23
£ £
Trade debtors 294,708 340,306
Other debtors - 15,127
VAT 932 1,492
295,640 356,925

7. Creditors: amounts falling due within one year
31.5.24 31.5.23
£ £
Bank loans and overdrafts (see note 9)
30,000

40,000
Trade creditors 369,684 438,369
Tax 33,413 31,049
Social security and other taxes 28,076 51,000
Other creditors 357 4,767
Accrued expenses 7,533 5,333
469,063 570,518

8. Creditors: amounts falling due after more than one year
31.5.24 31.5.23
£ £
Bank loans (see note 9) 1,652,266 1,652,266

9. Loans

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£ £
Amounts falling due within one year or on demand:
Bank loans 30,000 40,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,652,266 1,652,266

Mapino Limited (Registered number: 05801587)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. Provisions for liabilities
31.5.24 31.5.23
£ £
Deferred tax
Other timing differences 938,329 -

Deferred tax
£
Provided during year 938,329
Balance at 31 May 2024 938,329

11. Reserves
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 June 2023 61,865 3,753,316 3,815,181
Deficit for the year (937,563 ) (937,563 )
Dividends (30,000 ) (30,000 )
At 31 May 2024 (905,698 ) 3,753,316 2,847,618