Registration number:
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Mavididi Ltd
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Mavididi Ltd
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Mavididi Ltd
Company Information
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Directors |
S Mavididi B Sady |
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Registered office |
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Accountants |
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Mavididi Ltd
Statement of Financial Position as at 30 November 2024
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Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(2,645) |
801 |
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Shareholders' (deficit)/funds |
(2,545) |
901 |
For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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S Mavididi
Director
Company registration number: 11656434
Mavididi Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
The principal activity of the company is that of the ownership and exploitation of image rights.
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Accounting policies |
Statement of compliance
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' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The company had net liabilities of £2,545 at 30 November 2024 and made a loss for the year then ended. At 30 November 2024 an amount of £3,352 was due to a director who has agreed not to call for repayment until such time as the company has sufficient working capital.
The nature of the company's activities are such that the revenues generated are based on contractual entitlements which are unaffected by external factors. The company's affairs are straightforward with few fixed overheads.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for services provided in
the normal course of business, and is shown net of VAT and other sales related taxes.
Turnover is recognised evenly over the period to which the intellectual property is utilised.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Mavididi Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Image rights |
Straight line over 5 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company during the year, was
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Intangible assets |
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Image Rights |
Total |
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Cost or valuation |
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At 1 December 2023 |
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At 30 November 2024 |
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Amortisation |
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At 1 December 2023 |
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At 30 November 2024 |
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Carrying amount |
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At 30 November 2024 |
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Mavididi Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
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Debtors |
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2024 |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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- |
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Transactions with directors |
At 30 November 2024 an amount of £Nil (2023: £3,282) was due from a director. During the year, there were repayments of £3,282. No interest has been charged and there are no agreed terms in place.