Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Fixed assets | ||||
| Tangible assets | 5 |
|
|
|
| 2,682 | 2,215 | |||
| Current assets | ||||
| Stocks |
|
|
||
| Debtors | 6 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 285,327 | 235,088 | |||
| Creditors: amounts falling due within one year | 7 | (
|
(
|
|
| Net current assets | 66,254 | 28,617 | ||
| Total assets less current liabilities | 68,936 | 30,832 | ||
| Creditors: amounts falling due after more than one year | 8 | (
|
(
|
|
| Provision for liabilities | (
|
|
||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 9 |
|
|
|
| Profit and loss account |
|
|
||
| Total shareholders' funds |
|
|
Director's responsibilities:
The financial statements of Mumbai Foods Limited (registered number:
|
Falguni Samir Shah
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Mumbai Foods Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming, Salt Quay House 4 North East Quay, Sutton Harbour, Plymouth, PL4 0BN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included within other creditors.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
| Other intangible assets | not amortised |
| Fixtures and fittings |
|
| Office equipment |
|
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
| As previously reported | Adjustment | As restated | ||||
| Year ended 30 August 2023 | £ | £ | £ | |||
| Called-up share capital | 12,600 | (12,500) | 100 | |||
| Amounts owed to Parent undertakings | 112,261 | 12,500 | 124,761 |
During the year, it was identified that funds received in respect of the payment of Ordinary shares had been paid to the subsidiary Company and not correctly reflected in the parent Company accounts. The adjustment has been processed to reallocate the funds received, through the Intercompany account, so that the balances can be shown appropriately in Share premium up iun the parent Company accounts.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
|
|
| Other intangible assets | Total | ||
| £ | £ | ||
| Cost | |||
| At 31 August 2023 |
|
|
|
| At 30 August 2024 |
|
|
|
| Accumulated amortisation | |||
| At 31 August 2023 |
|
|
|
| At 30 August 2024 |
|
|
|
| Net book value | |||
| At 30 August 2024 |
|
|
|
| At 30 August 2023 |
|
|
| Fixtures and fittings | Office equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 31 August 2023 |
|
|
|
||
| Additions |
|
|
|
||
| At 30 August 2024 |
|
|
|
||
| Accumulated depreciation | |||||
| At 31 August 2023 |
|
|
|
||
| Charge for the financial year |
|
|
|
||
| At 30 August 2024 |
|
|
|
||
| Net book value | |||||
| At 30 August 2024 | 30 | 2,652 | 2,682 | ||
| At 30 August 2023 | 38 | 2,177 | 2,215 |
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| VAT recoverable |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Trade creditors |
|
|
|
| Amounts owed to Parent undertakings |
|
|
|
| Amounts owed to director |
|
|
|
| Accruals |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
Transactions with the entity's director
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed to the Director | 35,300 | 0 |
The balance due to the Director is interest free and repayable on demand.
Parent Company:
|
|
| 31 Sackville Street Manchester M1 3LZ England |