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Company No: 07708878 (England and Wales)

MUMBAI FOODS LIMITED

Unaudited Financial Statements
For the financial year ended 30 August 2024
Pages for filing with the registrar

MUMBAI FOODS LIMITED

Unaudited Financial Statements

For the financial year ended 30 August 2024

Contents

MUMBAI FOODS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 August 2024
MUMBAI FOODS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 August 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 5 2,682 2,215
2,682 2,215
Current assets
Stocks 75,121 33,894
Debtors 6 80,409 80,133
Cash at bank and in hand 129,797 121,061
285,327 235,088
Creditors: amounts falling due within one year 7 ( 219,073) ( 206,471)
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 ( 6,738) ( 12,563)
Provision for liabilities ( 629) 0
Net assets 61,569 18,269
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 61,469 18,169
Total shareholders' funds 61,569 18,269

For the financial year ending 30 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Mumbai Foods Limited (registered number: 07708878) were approved and authorised for issue by the Director on 13 August 2025. They were signed on its behalf by:

Falguni Samir Shah
Director
MUMBAI FOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 August 2024
MUMBAI FOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 August 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

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

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.

Taxation

Current tax
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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Office equipment 25 % reducing balance
Leases

The Company as lessee
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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

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.

2. Prior year adjustment

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.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 31 August 2023 27,027 27,027
At 30 August 2024 27,027 27,027
Accumulated amortisation
At 31 August 2023 27,027 27,027
At 30 August 2024 27,027 27,027
Net book value
At 30 August 2024 0 0
At 30 August 2023 0 0

5. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 31 August 2023 145 3,798 3,943
Additions 0 1,321 1,321
At 30 August 2024 145 5,119 5,264
Accumulated depreciation
At 31 August 2023 107 1,621 1,728
Charge for the financial year 8 846 854
At 30 August 2024 115 2,467 2,582
Net book value
At 30 August 2024 30 2,652 2,682
At 30 August 2023 38 2,177 2,215

6. Debtors

2024 2023
£ £
Trade debtors 59,248 59,729
VAT recoverable 15,720 17,943
Other debtors 5,441 2,461
80,409 80,133

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,900 3,600
Trade creditors 24,251 21,756
Amounts owed to Parent undertakings 117,581 124,761
Amounts owed to director 35,300 0
Accruals 21,344 45,420
Taxation and social security 13,254 1,446
Other creditors 443 9,488
219,073 206,471

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,738 12,563

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

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.

11. Ultimate controlling party

Parent Company:

Howdah Food & Snacks Limited
31 Sackville Street
Manchester M1 3LZ
England