Muglamania Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05528216 (England and Wales)

Muglamania Limited

Unaudited Financial Statements

for the Year Ended 31 August 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

Mr C H Julien

REGISTERED OFFICE:

13 The Courtyard

Timothys Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NP

REGISTERED NUMBER:

05528216 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Tangible assets

4

4,800

6,400

CURRENT ASSETS

Stocks

632

408

Debtors

5

-

2,920

Cash at bank

1,665

660

2,297

3,988

CREDITORS

Amounts falling due within one year

6

14,743

28,122

NET CURRENT LIABILITIES

(12,446

)

(24,134

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,646

)

(17,734

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(7,746

)

(17,834

)

SHAREHOLDERS' FUNDS

(7,646

)

(17,734

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director on 23 May 2019 and were signed by:

Mr C H Julien - Director

1.	STATUTORY INFORMATION

Muglamania 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

obsolete and slow moving items.

Going concern

The director will financially support the company (up to £10,000) for a period of 12 months from the

date of these financial statements, therefore the accounts have been prepared on a going concern

basis.

The company made a profit in the current year and it is anticipated that the company will continue to

show an improved financial position in 2019.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2017

and 31 August 2018

2,695

6,600

2,658

11,953

DEPRECIATION

At 1 September 2017

2,614

413

2,526

5,553

Charge for year

21

1,546

33

1,600

At 31 August 2018

2,635

1,959

2,559

7,153

NET BOOK VALUE

At 31 August 2018

60

4,641

99

4,800

At 31 August 2017

81

6,187

132

6,400

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments

-

2,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

333

3,975

Tax

311

-

Company credit card

1,938

1,840

Directors' loan accounts

12,161

22,307

14,743

28,122

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

2,700

-