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Unaudited Financial Statements |
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for the Year Ended 31 March 2020 |
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for |
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MAVA INVESTMENTS LTD |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2020 |
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for |
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MAVA INVESTMENTS LTD |
MAVA INVESTMENTS LTD (REGISTERED NUMBER: 10721816) |
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Contents of the Financial Statements |
for the year ended 31 March 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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MAVA INVESTMENTS LTD |
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Company Information |
for the year ended 31 March 2020 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
Coopers House |
65a Wingletye Lane |
Hornchurch |
Essex |
RM11 3AT |
MAVA INVESTMENTS LTD (REGISTERED NUMBER: 10721816) |
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Balance Sheet |
31 March 2020 |
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2020 | 2019 |
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 liabilities | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
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Net assets |
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Capital and reserves |
Called up share capital | 9 |
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Share premium | 10 |
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Retained earnings | 10 |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on
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MAVA INVESTMENTS LTD (REGISTERED NUMBER: 10721816) |
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Notes to the Financial Statements |
for the year ended 31 March 2020 |
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1. | Statutory information |
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MAVA Investments Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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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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Preparation of consolidated financial statements |
The financial statements contain information about MAVA Investments Ltd 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. |
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Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a |
party to the contractual provisions of the instrument. |
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Trade and other debtors and creditors are classified as basic financial instruments and measured at initial |
recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the |
effective interest rate method. A provision is established when there is objective evidence that the company will |
not be able to collect all amounts due. |
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Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank |
and bank overdrafts. |
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Financial liabilities and equity instruments issued by the company are classified in accordance with the |
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity |
instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company |
after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds |
received, net of direct issue costs. |
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Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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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 balance sheet date. |
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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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MAVA INVESTMENTS LTD (REGISTERED NUMBER: 10721816) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
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Cost |
At 1 April 2019 |
and 31 March 2020 |
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Net book value |
At 31 March 2020 |
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At 31 March 2019 |
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The fixed asset investments are in respect of 100% share capital of Essex Packaging Supplies Limited, a |
company incorporated in the United Kingdom. |
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Essex Packaging Supplies Limited holds 100% shareholding of Springtime Industrial Supplies Limited and |
Schoolwear Direct Limited. Both the companies are incorporated in the United Kingdom. |
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5. | Investment property |
Total |
£ |
Cost |
At 1 April 2019 |
and 31 March 2020 |
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Net book value |
At 31 March 2020 |
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At 31 March 2019 |
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The valuation of the investment property at the balance sheet date is the same as cost. |
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6. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 486,602 | 548,398 |
MAVA INVESTMENTS LTD (REGISTERED NUMBER: 10721816) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
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8. | Secured debts |
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The bank loan of £606,402 (2019 - £619,398) is secured by a fixed and floating charge over the company's |
property, assets and undertakings. |
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9. | Called up share capital |
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Allotted, issued and fully
paid: |
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Number | Class | Nominal | £ |
Value |
48 | A Ordinary shares | 1 | 48 |
48 | B Ordinary shares | 1 | 48 |
4 | C Ordinary shares | 1 | 4 |
120 | D Ordinary shares | 1 | 120 |
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220 |
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10. | Reserves |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 April 2019 |
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1,113,893 |
Profit for the year |
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Dividends | ( |
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At 31 March 2020 |
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1,159,425 |
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11. | Capital & reserves of subsidiary companies |
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The aggregate amount of capital and reserves and the profit for the year were as follows:- |
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Capital &
Reserves |
Profit/Loss in
Year |
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Essex Packaging Supplies Limited | £1,056,462 | £240,996 |
Springtime Industrial Supplies Limited | £12,046 | £9,315 |
Schoolwear Direct Limited | £28,453 | £5,355 |
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12. | Ultimate controlling party |
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The controlling party is Mr and Mrs M Wright. |