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

REGISTERED NUMBER: 10896424 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st August 2020

for

Mafiza Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P J Mahon

REGISTERED OFFICE:

1-3 Manor Road

Chatham

Kent

ME4 6AE

REGISTERED NUMBER:

10896424 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Tangible assets

4

211

281

CURRENT ASSETS

Debtors

5

9,612

13,692

Cash at bank

1,628

3,935

11,240

17,627

CREDITORS

Amounts falling due within one year

6

11,212

17,704

NET CURRENT ASSETS/(LIABILITIES)

28

(77

)

TOTAL ASSETS LESS CURRENT LIABILITIES

239

204

PROVISIONS FOR LIABILITIES

40

53

NET ASSETS

199

151

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

99

51

SHAREHOLDERS' FUNDS

199

151

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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 15th March 2021 and were signed by:

P J Mahon - Director

1.	STATUTORY INFORMATION

Mafiza 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 etc

-

25% on reducing balance

Government grants

Government grants in relation to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

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 1 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st September 2019

and 31st August 2020

500

DEPRECIATION

At 1st September 2019

219

Charge for year

70

At 31st August 2020

289

NET BOOK VALUE

At 31st August 2020

211

At 31st August 2019

281

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

4,020

-

Other debtors and prepayments

5,592

13,692

9,612

13,692

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

10,107

16,759

Other creditors and accruals

1,105

945

11,212

17,704

7.	RELATED PARTY DISCLOSURES

At the year end the director owed the company £5,591 (2019 -£13,693). This loan is interest free and repayable on demand.