Company Registration No. 11798092 (England and Wales)
Memo Walthamstow Limited
Unaudited accounts
for the year ended 31 January 2023
Memo Walthamstow Limited
Unaudited accounts
Contents
Memo Walthamstow Limited
Company Information
for the year ended 31 January 2023
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 2023
Intangible assets
56,435
106,368
Tangible assets
85,564
86,129
Inventories
214,415
236,465
Cash at bank and in hand
1,003,091
696,063
Creditors: amounts falling due within one year
(1,124,315)
(1,094,938)
Net current assets
304,493
137,138
Net assets
446,492
329,635
Called up share capital
100
100
Profit and loss account
446,392
329,535
Shareholders' funds
446,492
329,635
For the year ending 31 January 2023 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 7 July 2023 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 2023
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 2023
4
Intangible fixed assets
Goodwill
At 1 February 2022
249,667
At 31 January 2023
249,667
At 1 February 2022
143,299
Charge for the year
49,933
At 31 January 2023
193,232
At 31 January 2022
106,368
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.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 February 2022
149,658
6,419
156,077
Disposals
(6,497)
-
(6,497)
At 31 January 2023
186,471
6,419
192,890
At 1 February 2022
66,096
3,852
69,948
Charge for the year
36,094
1,284
37,378
At 31 January 2023
102,190
5,136
107,326
At 31 January 2023
84,281
1,283
85,564
At 31 January 2022
83,562
2,567
86,129
Amounts falling due within one year
Trade debtors
210,102
279,702
Memo Walthamstow Limited
Notes to the Accounts
for the year ended 31 January 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
56,656
52,788
Trade creditors
914,590
730,123
Taxes and social security
153,069
97,006
Proposed dividends
-
20,000
Loans from directors
-
195,021
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 17 (2022: 16).