| MUNCHKINZ LTD |
| Notes to the Accounts |
| for the period from 31 August 2018 to 31 March 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
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 and from the rendering of services. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures & fittings |
20% reducing balance |
|
Nursery equipment |
20% reducing balance |
|
Office equipment |
20% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
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| 2 |
Tangible fixed assets |
|
|
Fixtures & fittings |
|
Office equipment |
|
Nursery equipment |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
Additions |
1,952 |
|
1,139 |
|
2,080 |
|
5,171 |
|
At 31 March 2019 |
1,952 |
|
1,139 |
|
2,080 |
|
5,171 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the period |
195 |
|
114 |
|
208 |
|
517 |
|
At 31 March 2019 |
195 |
|
114 |
|
208 |
|
517 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2019 |
1,757 |
|
1,025 |
|
1,872 |
|
4,654 |
|
| 3 |
Debtors |
2019 |
|
| £ |
|
|
|
Trade debtors |
4,195 |
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2019 |
|
| £ |
|
|
|
Accruals |
601 |
|
Director current account |
15,071 |
|
|
|
|
|
|
15,672 |
|
|
|
|
|
|
|
|
|
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| 5 |
Controlling party |
|
|
The ultimate controlling party was Ms. Jasvinder Kaur Mistry, the sole director and shareholder of the company. |
|
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| 6 |
Other information |
|
|
MUNCHKINZ LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
479 Ley Street |
|
Ilford |
|
Essex |
|
IG2 7QX |
|
|
| 7 |
Incorporation |
|
|
The company incorporated on 31/08/2018 but commence trading from 08/10/2018. |
