Monark Global Limited - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Monark Global Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L L C Gullan

SECRETARY:

Cargill Management Services Limited

REGISTERED OFFICE:

27/28 Eastcastle Street

London

W1W 8DH

REGISTERED NUMBER:

03977053 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Intangible assets

4

7,613

-

CURRENT ASSETS

Stocks

225,377

174,190

Debtors

5

216,555

112,049

Cash at bank

245,460

252,245

687,392

538,484

CREDITORS

Amounts falling due within one year

6

228,169

188,909

NET CURRENT ASSETS

459,223

349,575

TOTAL ASSETS LESS CURRENT LIABILITIES

466,836

349,575

CREDITORS

Amounts falling due after more than one year

7

-

30,225

NET ASSETS

466,836

319,350

CAPITAL AND RESERVES

Called up share capital

8

500,000

500,000

Retained earnings

(33,164

)

(180,650

)

SHAREHOLDERS' FUNDS

466,836

319,350

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 8 May 2019 and were signed by:

L L C Gullan - Director

1.	STATUTORY INFORMATION

Monark Global Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

11,419

At 31 December 2018

11,419

AMORTISATION

Amortisation for year

3,806

At 31 December 2018

3,806

NET BOOK VALUE

At 31 December 2018

7,613

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

123,951

112,049

Prepayments

92,604

-

216,555

112,049

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

113,108

128,723

Tax

11

11

VAT

54,060

30,135

Other creditors

-

21,229

Accrued expenses

60,990

8,811

228,169

188,909

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Directors' loan accounts

-

30,225

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

500,000

Ordinary shares

£1

500,000

500,000

9.	ULTIMATE CONTROLLING PARTY

The controlling party is L L C Gullan.