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REGISTERED NUMBER: 10219306 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MADAGASCAR HAMPSTEAD LIMITED

MADAGASCAR HAMPSTEAD LIMITED (REGISTERED NUMBER: 10219306)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MADAGASCAR HAMPSTEAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M L Kermabon
A Sarracino



REGISTERED OFFICE: The Garment Building
9 Fisher’s Lane
London
W4 1RX



REGISTERED NUMBER: 10219306 (England and Wales)



SENIOR STATUTORY AUDITOR: Tony Castagnetti



AUDITORS: Belluzzo Audit Limited
Chartered Accountants and Statutory Auditors
38 Craven Street
London
WC2N 5NG

MADAGASCAR HAMPSTEAD LIMITED (REGISTERED NUMBER: 10219306)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,235 14,274

CURRENT ASSETS
Stocks 5 163,614 95,369
Debtors 6 116,489 89,472
Cash at bank and in hand 243,441 157,740
523,544 342,581
CREDITORS
Amounts falling due within one year 7 (735,276 ) (603,360 )
NET CURRENT LIABILITIES (211,732 ) (260,779 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(201,497

)

(246,505

)

CREDITORS
Amounts falling due after more than one
year

8

(3,748

)

(9,095

)
NET LIABILITIES (205,245 ) (255,600 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (205,345 ) (255,700 )
SHAREHOLDERS' FUNDS (205,245 ) (255,600 )

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 Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:





A Sarracino - Director


MADAGASCAR HAMPSTEAD LIMITED (REGISTERED NUMBER: 10219306)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Madagascar Hampstead Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over 10 years
Fixtures and fittings - 25% straight line
Computer equipment - 25% straight line

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.


MADAGASCAR HAMPSTEAD LIMITED (REGISTERED NUMBER: 10219306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on a going concern basis on the basis that the parent company confirmed its commitment to continue to support the company for a period of at least 12 months from the signing of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 23,117 3,935 10,140 37,192
DEPRECIATION
At 1 January 2024 8,843 3,935 10,140 22,918
Charge for year 4,039 - - 4,039
At 31 December 2024 12,882 3,935 10,140 26,957
NET BOOK VALUE
At 31 December 2024 10,235 - - 10,235
At 31 December 2023 14,274 - - 14,274

5. STOCKS
2024 2023
£    £   
Finished goods 163,614 95,369

MADAGASCAR HAMPSTEAD LIMITED (REGISTERED NUMBER: 10219306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,010 11,268
Amounts owed by group undertakings 72,691 22,691
Other debtors 27,100 52,572
Prepayments and accrued income 10,688 2,941
116,489 89,472

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 153,066 148,470
Amounts owed to group undertakings 440,752 327,809
Tax - 1
Social security and other taxes 1,102 3,311
VAT 31,178 21,723
Other creditors 110 -
Accruals and deferred income 75,201 72,224
Accrued expenses 33,867 29,822
735,276 603,360

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 3,748 9,095

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 90,000 90,000
Between one and five years 52,500 142,500
142,500 232,500

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

MADAGASCAR HAMPSTEAD LIMITED (REGISTERED NUMBER: 10219306)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited

12. RELATED PARTY DISCLOSURES

During the year, the company was charged royalties of £86,104 (2023: £81,259) from YYGM SA, a company owned by the director's son.
At 31st December 2024, amount due to YYMG SA was £46,724 (2023: £44,503) at the balance sheet date.

13. POST BALANCE SHEET EVENTS

While energy costs have fallen in 2024, UK inflation remains above target, and the economic recovery is still sluggish. This continues to affect household confidence and non-essential retail sales, particularly among lower and middle-income customers. Directors are monitoring these risks closely and will implement appropriate measures to support sales and manage ongoing challenges

14. ULTIMATE CONTROLLING PARTY

The controlling party is M L Kermabon.