Company Registration No. 11798092 (England and Wales)
Memo Walthamstow Limited
Unaudited accounts
for the year ended 31 January 2021
Memo Walthamstow Limited
Unaudited accounts
Contents
Memo Walthamstow Limited
Company Information
for the year ended 31 January 2021
Directors
Mehmet Demir
Ali Ihsan Kaya
Mehmet Sait Dilek
Company Number
11798092 (England and Wales)
Registered Office
7 - 17 HIGH STREET
LONDOB
E17 7AD
UNITED KINGDOM
Accountants
Abacus Financial Accountants
39 Maryland Square
Stratford
London
E15 1HF
Memo Walthamstow Limited
Statement of financial position
as at
31 January 2021
Intangible assets
156,301
199,734
Tangible assets
77,345
64,861
Inventories
249,676
458,066
Cash at bank and in hand
552,607
85,672
Creditors: amounts falling due within one year
(916,031)
(839,871)
Net current liabilities
(60,524)
(256,489)
Called up share capital
100
100
Profit and loss account
173,022
8,006
Shareholders' funds
173,122
8,106
For the year ending 31 January 2021 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 1 September 2021 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 2021
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, LONDOB, 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 2021
4
Intangible fixed assets
Goodwill
At 1 February 2020
249,667
At 31 January 2021
249,667
At 1 February 2020
49,933
Charge for the year
43,433
At 31 January 2021
93,366
At 31 January 2021
156,301
At 31 January 2020
199,734
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 2020
74,658
6,419
81,077
Additions
44,000
-
44,000
At 31 January 2021
118,658
6,419
125,077
At 1 February 2020
14,932
1,284
16,216
Charge for the year
30,232
1,284
31,516
At 31 January 2021
45,164
2,568
47,732
At 31 January 2021
73,494
3,851
77,345
At 31 January 2020
59,726
5,135
64,861
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
50,082
39,644
Memo Walthamstow Limited
Notes to the Accounts
for the year ended 31 January 2021
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
59,000
-
Trade creditors
172,532
144,141
Taxes and social security
53,598
(5,171)
Loans from directors
630,901
700,901
8
Share capital
2021
2020
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 (2020: 11).