Mix Masters Events Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11998487 (England and Wales)

Unaudited Financial Statements

for the Period 16 May 2019 to 31 May 2020

for

Mix Masters Events Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Batty

REGISTERED OFFICE:

Axiom House

Spring Villa Park

Edgware

Middlesex

HA8 7EB

REGISTERED NUMBER:

11998487 (England and Wales)

ACCOUNTANTS:

Goldhill Accountancy Ltd

Office 10, Unit 1

465C Hornsey Road

Islington

London

N19 4DR

FIXED ASSETS

Tangible assets

4

27,745

CURRENT ASSETS

Stocks

5

12,068

Debtors

6

2,367

Cash at bank

831

15,266

CREDITORS

Amounts falling due within one year

7

59,929

NET CURRENT LIABILITIES

(44,663

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,918

)

PROVISIONS FOR LIABILITIES

8

5,271

NET LIABILITIES

(22,189

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

9

(22,289

)

(22,189

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 19 October 2020 and were signed by:

M Batty - Director

1.	STATUTORY INFORMATION

Mix Masters Events 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.

The director has considered the consequences of COVID-19 and other events and conditions, and it has determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

The impact of COVID-19 on future performance and therefore on the measurement of some assets and liabilities or on liquidity might be significant and might therefore require disclosure in the financial statements, but the director has determined that they do not create a material uncertainty that casts significant doubt upon the entity's ability to continue as a going concern.

The director considers the going concern basis to be appropriate as, in their opinion, the company will be able to secure sufficient funding to enable it to pay its debts as they fall due.

The financial statements have been prepared on the going concern basis on the assumption that the company will continue to trade for the foreseeable future, even though it had net liabilities of £22,189 as at the balance sheet date.

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.

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 period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

Additions

2,217

27,131

7,490

1,826

38,664

At 31 May 2020

2,217

27,131

7,490

1,826

38,664

DEPRECIATION

Charge for period

281

8,022

2,283

333

10,919

At 31 May 2020

281

8,022

2,283

333

10,919

NET BOOK VALUE

At 31 May 2020

1,936

19,109

5,207

1,493

27,745

5.

STOCKS

£

Finished goods

12,068

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

VAT

1,868

Prepayments

499

2,367

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

286

Director's curr accs less 1yr

59,643

59,929

8.	PROVISIONS FOR LIABILITIES

£

Deferred tax

5,271

Deferred

tax

£

Provided during period

5,271

Balance at 31 May 2020

5,271

9.

RESERVES

Retained

earnings

£

Deficit for the period

(22,289

)

At 31 May 2020

(22,289

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 May 2020:

£

M Batty

Balance outstanding at start of period

-

Amounts advanced

2,000

Amounts repaid

(61,643

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(59,643

)

The director's current account balance of £59,643 has no fixed date for repayment, is repayable upon demand and is non-interest bearing.