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Unaudited Financial Statements |
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for the Year Ended 30 December 2019 |
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for |
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MAMMA MIA (HOLDINGS) LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 December 2019 |
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for |
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MAMMA MIA (HOLDINGS) LIMITED |
MAMMA MIA (HOLDINGS) LIMITED (REGISTERED NUMBER: 03622119) |
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Contents of the Financial Statements |
for the Year Ended 30 December 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Certified Accountants' Report | 7 |
MAMMA MIA (HOLDINGS) LIMITED |
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Company Information |
for the Year Ended 30 December 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Telecom House |
125-135 Preston Road |
Brighton |
East Sussex |
BN1 6AF |
MAMMA MIA (HOLDINGS) LIMITED (REGISTERED NUMBER: 03622119) |
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Statement of Financial Position |
30 December 2019 |
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30.12.19 | 30.12.18 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
MAMMA MIA (HOLDINGS) LIMITED (REGISTERED NUMBER: 03622119) |
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Statement of Financial Position - continued |
30 December 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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MAMMA MIA (HOLDINGS) LIMITED (REGISTERED NUMBER: 03622119) |
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Notes to the Financial Statements |
for the Year Ended 30 December 2019 |
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1. | STATUTORY INFORMATION |
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Mamma Mia (Holdings) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The accounts are prepared on a going concern basis. |
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Preparation of consolidated financial statements |
The financial statements contain information about Mamma Mia (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
MAMMA MIA (HOLDINGS) LIMITED (REGISTERED NUMBER: 03622119) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Basic financial assets |
Basic financial assets which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rate method unless the arrangement constitutes a financing transaction, where the transaction is measured as the present value of the future receipts discounted at a market rate of interest. |
Financial assets classified as receivable within one year are not amortised. |
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Cash and cash equivalents |
Cash and cash equivalents are basic financial instruments 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 within current liabilities. |
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Classification of financial liabilities |
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. |
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Basic financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, loans from group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest method. |
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Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Non-current investments |
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. |
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The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
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A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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MAMMA MIA (HOLDINGS) LIMITED (REGISTERED NUMBER: 03622119) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2019 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 31 December 2018 |
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101 |
Additions |
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215,698 |
Revaluations |
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7,559 |
At 30 December 2019 |
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223,358 |
NET BOOK VALUE |
At 30 December 2019 |
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223,358 |
At 30 December 2018 |
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101 |
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Cost or valuation at 30 December 2019 is represented by: |
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Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2020 | - | 7,559 | 7,559 |
Cost | 101 | 215,698 | 215,799 |
101 | 223,257 | 223,358 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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At 30 December 2019 |
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NET BOOK VALUE |
At 30 December 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.12.19 | 30.12.18 |
£ | £ |
Trade creditors |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £66,775 (2018 - £40,000) were paid to the directors . |
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During the year the company acquired a property from its subsidiary company, Al Fresco (Brighton) Limited at its market value of £252,339. There was no change in market value from the date of acquisition and the year end. |
Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Mamma Mia (Holdings) Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mamma Mia (Holdings) Limited for the year ended 30 December 2019 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Mamma Mia (Holdings) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mamma Mia (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Mamma Mia (Holdings) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Mamma Mia (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mamma Mia (Holdings) Limited. You consider that Mamma Mia (Holdings) Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Mamma Mia (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Certified Accountants |
Telecom House |
125-135 Preston Road |
Brighton |
East Sussex |
BN1 6AF |
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Date: ............................................. |