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Registered number: 08437952
Mad Apple Imports & Exports Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
BGA Accountants Limited
The Design Studio
Woodmead Road
Axminster
Devon
EX13 5PQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08437952
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 196,804 167,239
196,804 167,239
CURRENT ASSETS
Stocks 5 12,000 12,000
Debtors 6 (37,120 ) 2,675
Cash at bank and in hand 50,684 311
25,564 14,986
Creditors: Amounts Falling Due Within One Year 7 (165,230 ) (154,669 )
NET CURRENT ASSETS (LIABILITIES) (139,666 ) (139,683 )
TOTAL ASSETS LESS CURRENT LIABILITIES 57,138 27,556
Creditors: Amounts Falling Due After More Than One Year 8 (33,769 ) (51,352 )
NET ASSETS/(LIABILITIES) 23,369 (23,796 )
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 33,387 33,387
Profit and Loss Account (11,018 ) (58,183 )
SHAREHOLDERS' FUNDS 23,369 (23,796)
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Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Josh Chapman
Director
16/04/2026
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mad Apple Imports & Exports Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08437952 . The registered office is Street Farm High Street, Iron Acton, Bristol, BS37 9UG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5% Reducing Balance Method
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: )
1 -
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 213,875 7,731 221,606
Additions 39,923 - 39,923
As at 31 March 2025 253,798 7,731 261,529
Depreciation
As at 1 April 2024 46,636 7,731 54,367
Provided during the period 10,358 - 10,358
As at 31 March 2025 56,994 7,731 64,725
Net Book Value
As at 31 March 2025 196,804 - 196,804
As at 1 April 2024 167,239 - 167,239
5. Stocks
2025 2024
£ £
Stock 12,000 12,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 8,480 2,675
Other debtors (45,600) -
(37,120 ) 2,675
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 12,088 15,440
Trade creditors 46,896 13,599
Bank loans and overdrafts 5,000 5,000
Other creditors 95,289 114,557
Taxation and social security 5,957 6,073
165,230 154,669
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 7,936 20,519
Bank loans 25,833 30,833
33,769 51,352
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,088 15,440
Later than one year and not later than five years 7,936 20,519
20,024 35,959
20,024 35,959
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Reserves
Revaluation reserve Profit and Loss Account
£ £
As at 1 April 2024 33,387 (58,183 )
Profit for the year and total comprehensive income - 47,165
As at 31 March 2025 33,387 (11,018 )
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