Molana Ltd
Registered number: 11843783
Unaudited Financial Statements
For The Year Ended
28 February 2021
Castletree Consultants Ltd
Molana Ltd
Unaudited Financial Statements
For The Year Ended
28 February 2021
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Molana Ltd
Balance Sheet
As at
28 February 2021
Balance Sheet
Registered number:
11843783
For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Stocks | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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| NET LIABILITIES |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (37,518) | (12,937) | |||
Director's responsibilities
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The member has 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
Molana Ltd
Notes to the Financial Statements
For The Year Ended
28 February 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2020: 2)
3.
Stocks
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - materials and work in progress | 867 | - | |
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4.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Other taxes and social security |
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| Accruals and deferred income |
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| Director's loan account |
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Page 2
Molana Ltd
Notes to the Financial Statements (continued)
For The Year Ended
28 February 2021
6.
Directors Advances, Credits and Guarantees
Included within Creditors in note 4 above are the following loans from the director:
The first loan represents money physically introduced into the business, in addition to this the Director has also incurred expenses of £2448 on behalf of the business since its incorporation.
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Ms Golnaz Fathi Khosrowshahi |
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The above loan is unsecured, interest free and repayable to Ms Golnaz Fathi Khosrowshahi on demand.
7.
General Information
Molana Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11843783
. The registered office is 115 Westcliffe Apartments South Wharf Road, London, W2 1JB.
Page 3