Company Registration No. 10876907 (England and Wales)
Madl Limited
Unaudited accounts
for the year ended 31 July 2019
Madl Limited
Unaudited accounts
Contents
Madl Limited
Company Information
for the year ended 31 July 2019
Company Number
10876907 (England and Wales)
Registered Office
37 Westfield Avenue
Crawcrook
Ryton
Tyne and Wear
NE40 4DR
UNITED KINGDOM
Accountants
Flourish Social Enterprise CIC
2 Blencathra Way
Blaydon
Tyne and Wear
NE21 6SW
Madl Limited
Statement of financial position
as at 31 July 2019
Intangible assets
-
10,480
Cash at bank and in hand
10,925
5,967
Creditors: amounts falling due within one year
(5,142)
(32,054)
Net current assets/(liabilities)
7,786
(15,633)
Total assets less current liabilities
7,786
52,217
Creditors: amounts falling due after more than one year
(25,000)
(56,496)
Provisions for liabilities
Net liabilities
(17,214)
(15,217)
Profit and loss account
(17,214)
(15,217)
Shareholders' funds
(17,214)
(15,217)
For the year ending 31 July 2019 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 director acknowledges her 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 and authorised for issue on 9 July 2020 and were signed on its behalf by
Laura R Madl
Director
Company Registration No. 10876907
Madl Limited
Notes to the Accounts
for the year ended 31 July 2019
Madl Limited is a private company, limited by shares, registered in England and Wales, registration number 10876907. The registered office is 37 Westfield Avenue, Crawcrook, Ryton, Tyne and Wear, NE40 4DR, 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.
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
10 years straight line
Fixtures & fittings
10 years straight line
Computer equipment
3 years straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
There was a net deficiency of assets of £17214 at the balance sheet date, however as the directors sold the assets of the loss making aspects of the business and have confirmed that they will continue to support and consider the company retains sufficient working capital to continue trading for the foreseeable future
Madl Limited
Notes to the Accounts
for the year ended 31 July 2019
4
Intangible fixed assets
Goodwill
Other
Total
At 1 August 2018
11,424
248
11,672
Disposals
(9,520)
(166)
(9,686)
At 31 July 2019
1,904
82
1,986
At 1 August 2018
1,142
50
1,192
Charge for the year
762
32
794
At 31 July 2019
1,904
82
1,986
At 31 July 2018
10,282
198
10,480
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2018
7,868
55,117
768
63,753
Disposals
(6,762)
(45,919)
(402)
(53,083)
At 31 July 2019
1,198
9,198
386
10,782
At 1 August 2018
642
5,515
226
6,383
Charge for the year
556
3,683
160
4,399
At 31 July 2019
1,198
9,198
386
10,782
At 31 July 2018
7,226
49,602
542
57,370
Accrued income and prepayments
-
9,329
Madl Limited
Notes to the Accounts
for the year ended 31 July 2019
8
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
-
10,216
Trade creditors
3,389
12,569
Taxes and social security
-
854
Loans from directors
1,753
7,466
9
Creditors: amounts falling due after more than one year
2019
2018
10
Average number of employees
During the year the average number of employees was 4 (2018: 4).
