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REGISTERED NUMBER: 07521502 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

MADIBA SURF LIMITED

MADIBA SURF LIMITED (REGISTERED NUMBER: 07521502)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MADIBA SURF LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTOR: M F Fessler





REGISTERED OFFICE: Bryndon House
5-7 Berry Road
Newquay
TR7 1AD





REGISTERED NUMBER: 07521502 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

MADIBA SURF LIMITED (REGISTERED NUMBER: 07521502)

BALANCE SHEET
28 FEBRUARY 2025

28.2.25 29.2.24
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 195 390
Tangible assets 5 1,573 1,967
1,768 2,357

CURRENT ASSETS
Stocks 12,000 12,000
Debtors 6 18,547 14,592
Cash at bank 111,696 44,107
142,243 70,699
CREDITORS
Amounts falling due within one year 7 131,310 80,864
NET CURRENT ASSETS/(LIABILITIES) 10,933 (10,165 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,701

(7,808

)

CREDITORS
Amounts falling due after more than one
year

8

875

4,375
NET ASSETS/(LIABILITIES) 11,826 (12,183 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,726 (12,283 )
11,826 (12,183 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MADIBA SURF LIMITED (REGISTERED NUMBER: 07521502)

BALANCE SHEET - continued
28 FEBRUARY 2025


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 director and authorised for issue on 14 August 2025 and were signed by:





M F Fessler - Director


MADIBA SURF LIMITED (REGISTERED NUMBER: 07521502)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Madiba Surf 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, has been amortised evenly over its estimated useful life of five years.

Intangible assets
Patents and Licences, being the amount paid in connection with the acquisition of the lockrack domain name and website, has been amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

MADIBA SURF LIMITED (REGISTERED NUMBER: 07521502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 March 2024
and 28 February 2025 9,000 1,950 10,950
AMORTISATION
At 1 March 2024 9,000 1,560 10,560
Amortisation for year - 195 195
At 28 February 2025 9,000 1,755 10,755
NET BOOK VALUE
At 28 February 2025 - 195 195
At 29 February 2024 - 390 390

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2024
and 28 February 2025 6,129
DEPRECIATION
At 1 March 2024 4,162
Charge for year 394
At 28 February 2025 4,556
NET BOOK VALUE
At 28 February 2025 1,573
At 29 February 2024 1,967

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Trade debtors 18,208 12,984
Deferred tax asset 339 1,608
18,547 14,592

MADIBA SURF LIMITED (REGISTERED NUMBER: 07521502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.25 29.2.24
£    £   
Bank loans and overdrafts 3,500 3,500
Trade creditors 51,896 -
Corporation tax 4,541 10
Social security and other taxes 10,987 9,460
Other creditors 43,065 43,065
Directors' current accounts 15,804 23,240
Accrued expenses 1,517 1,589
131,310 80,864

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.25 29.2.24
£    £   
Bank loans - 1-2 years 875 3,500
Bank loans - 2-5 years - 875
875 4,375

9. RELATED PARTY DISCLOSURES

At the year end, the company owed £15,804 (2024: £23,240) to Mr M Fessler, the director of the company.

At the year end, the company owed £43,065 (2024: £43,065) to Mr A M Fessler, a family member of Mr M Fessler, the director.