Company Registration No. 11798092 (England and Wales)
Memo Walthamstow Limited
Unaudited accounts
for the year ended 31 January 2022
Memo Walthamstow Limited
Unaudited accounts
Contents
Memo Walthamstow Limited
Company Information
for the year ended 31 January 2022
Directors
Mehmet Demir
Ali Ihsan Kaya
Mehmet Sait Dilek
Company Number
11798092 (England and Wales)
Registered Office
7 - 17 High Street
Walthamstow
London
E17 7AD
UNITED KINGDOM
Accountants
Abacus Financial Accountants
12 Douglas Road
Goodmayes
London
IG3 8UX
Memo Walthamstow Limited
Statement of financial position
as at
31 January 2022
Intangible assets
106,368
156,301
Tangible assets
86,129
77,345
Inventories
236,465
249,676
Cash at bank and in hand
696,063
552,607
Creditors: amounts falling due within one year
(1,094,938)
(916,031)
Net current assets/(liabilities)
137,138
(60,524)
Net assets
329,635
173,122
Called up share capital
100
100
Profit and loss account
329,535
173,022
Shareholders' funds
329,635
173,122
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2022 and were signed on its behalf by
Mehmet Demir
Director
Company Registration No. 11798092
Memo Walthamstow Limited
Notes to the Accounts
for the year ended 31 January 2022
Memo Walthamstow Limited is a private company, limited by shares, registered in England and Wales, registration number 11798092. The registered office is 7 - 17 High Street, Walthamstow, London, E17 7AD, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Over 5 years
Motor vehicles
Over 5 years
Fixtures & fittings
Over 5 years
Computer equipment
Over 5 years
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Memo Walthamstow Limited
Notes to the Accounts
for the year ended 31 January 2022
4
Intangible fixed assets
Goodwill
At 1 February 2021
249,667
At 31 January 2022
249,667
At 1 February 2021
93,366
Charge for the year
49,933
At 31 January 2022
143,299
At 31 January 2022
106,368
At 31 January 2021
156,301
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 February 2021
118,658
6,419
125,077
Additions
31,000
-
31,000
At 31 January 2022
149,658
6,419
156,077
At 1 February 2021
45,164
2,568
47,732
Charge for the year
20,932
1,284
22,216
At 31 January 2022
66,096
3,852
69,948
At 31 January 2022
83,562
2,567
86,129
At 31 January 2021
73,494
3,851
77,345
Amounts falling due within one year
Trade debtors
279,702
50,082
Memo Walthamstow Limited
Notes to the Accounts
for the year ended 31 January 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
52,788
59,000
Trade creditors
730,123
172,532
Taxes and social security
97,006
53,598
Proposed dividends
20,000
-
Loans from directors
195,021
630,901
8
Share capital
2022
2021
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 16 (2021: 16).