Company registration number 15346393 (England and Wales)
Madara Yoga Limited
Unaudited Financial Statements
For the period ended 31 December 2024
PAGES FOR FILING WITH REGISTRAR
Madara Yoga Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Madara Yoga Limited
Balance Sheet
As at 31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
37,086
Current assets
Debtors
4
15,206
Cash at bank and in hand
18,131
33,337
Creditors: amounts falling due within one year
5
(4,322)
Net current assets
29,015
Total assets less current liabilities
66,101
Creditors: amounts falling due after more than one year
6
(133,598)
Net liabilities
(67,497)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(67,597)
Total equity
(67,497)
For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 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.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 16 June 2025
Ms C Gallagher
Director
Company registration number 15346393 (England and Wales)
Madara Yoga Limited
Notes to the Financial Statements
For the Period ended 31 December 2024
- 2 -
1
Accounting policies
Company information
Madara Yoga Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Herts, AL1 1LJ.
1.1
Reporting period
The financial statements have been prepared for the period of account of the company from incorporation on 12 December 2023 to its first accounting period end on 31 December 2024. Accordingly, the accounting period is longer than 12 months.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence as the shareholder loan will continue for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
10% Straight Line
Computers
25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Madara Yoga Limited
Notes to the Financial Statements (Continued)
For the Period ended 31 December 2024
1
Accounting policies
(Continued)
- 3 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Madara Yoga Limited
Notes to the Financial Statements (Continued)
For the Period ended 31 December 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 12 December 2023
Additions
38,799
At 31 December 2024
38,799
Depreciation and impairment
At 12 December 2023
Depreciation charged in the period
1,713
At 31 December 2024
1,713
Carrying amount
At 31 December 2024
37,086
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
15,206
5
Creditors: amounts falling due within one year
2024
£
Taxation and social security
782
Other creditors
3,540
4,322
Madara Yoga Limited
Notes to the Financial Statements (Continued)
For the Period ended 31 December 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
133,598
7
Related party transactions
2024
Amounts due to related parties
£
Other related parties
133,598
The loans from related parties are unsecured, interest free and have no fixed repayment terms.