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Unaudited Financial Statements for the Year Ended 30 June 2021 |
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Mama K's Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2021 |
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for |
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Mama K's Limited |
Mama K's Limited (Registered number: 07686152) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2021 |
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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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Mama K's Limited |
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Company Information |
for the Year Ended 30 June 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 Technology Park |
Colindeep Lane |
Colindale |
London |
NW9 6BX |
Mama K's Limited (Registered number: 07686152) |
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Statement of Financial Position |
30 June 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS/(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 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. |
Mama K's Limited (Registered number: 07686152) |
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Statement of Financial Position - continued |
30 June 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Mama K's Limited (Registered number: 07686152) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2021 |
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1. | STATUTORY INFORMATION |
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Mama K's 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 director expects the company to continue to receive support and resources from the shareholder for the foreseeable future. Therefore, the director believes that the going concern basis is appropriate in preparing the financial statements. |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is recognised at the point of sale. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Computer equipment | - |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. |
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At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and other loans to related parties. |
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Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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Debtors |
Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment. |
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Cash and cash equivalents |
Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost. |
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Creditors |
Basic financial liabilities, including trade and other creditors, are recognised at transaction price. |
Mama K's Limited (Registered number: 07686152) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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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. |
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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. |
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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. |
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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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4. | INTANGIBLE FIXED ASSETS |
Trademarks |
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COST |
At 1 July 2020 |
and 30 June 2021 |
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AMORTISATION |
At 1 July 2020 |
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Amortisation for year |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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Mama K's Limited (Registered number: 07686152) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
Additions |
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At 30 June 2021 |
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DEPRECIATION |
Charge for year |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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6. | STOCKS |
2021 | 2020 |
£ | £ |
Finished goods |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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Taxation recoverable |
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Value added tax |
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Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to related companies |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Director's current account | 1,396 | 24,485 |
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Mama K's Limited (Registered number: 07686152) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2021 |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans within one to two years |
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Bank loans within two to five years |
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Bank loans more than five years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than five years | 15,236 | 33,391 |
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10. | RELATED PARTY DISCLOSURES |
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Amounts owed to related companies relates to entities in which the director has a material interest or control. These amounts are interest free and repayable on demand. |