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Registered number: 10260974
MAKE IT MINE ONLINE LTD
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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MAKE IT MINE ONLINE LTD
COMPANY INFORMATION
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MAKE IT MINE ONLINE LTD
CONTENTS
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Notes to the Financial Statements
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MAKE IT MINE ONLINE LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The directors present their report and the financial statements for the year ended 31 December 2020.
Directors' responsibilities statement
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The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The principal activity of the company is that of providing an online platform for the sale of bespoke jewellery.
The directors who served during the year were:
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T J Morgan (resigned 1 October 2020)
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J Holt (resigned 1 October 2020)
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In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
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MAKE IT MINE ONLINE LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
This report was approved by the board and signed on its behalf.
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MAKE IT MINE ONLINE LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MAKE IT MINE ONLINE LTD
FOR THE YEAR ENDED 31 DECEMBER 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Make It Mine Online Ltd for the year ended 31 December 2020 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Make It Mine Online Ltd, as a body, in accordance with the terms of our engagement letter dated 17 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Make It Mine Online Ltd and state those matters that we have agreed to state to the Board of Directors of Make It Mine Online Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Make It Mine Online Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Make It Mine Online Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Make It Mine Online Ltd. You consider that Make It Mine Online Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Make It Mine Online Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Simmons Gainsford LLP
Chartered Accountants
14th Floor
33 Cavendish Square
London
W1G 0PW
16 December 2021
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MAKE IT MINE ONLINE LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2020
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Interest receivable and similar income
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Loss for the financial year
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The notes on page 6 form part of these financial statements.
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MAKE IT MINE ONLINE LTD
REGISTERED NUMBER: 10260974
BALANCE SHEET
AS AT 31 DECEMBER 2020
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on page 6 form part of these financial statements.
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MAKE IT MINE ONLINE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Make It Mine Online Limited is a private company limited by shares and registered in England and Wales (10260974). The registered address is 14th Floor, 33 Cavendish Square, London, W1G 0PW.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The accounts have been prepared on a going concern basis as the company's directors have confirmed that they will continue to provide the necessary financial support to enable the company to meet its forecast liabilities as they fall due.
Interest income is recognised in profit or loss using the effective interest method.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 1 (2019 - 3).
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Related party transactions
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Included in other creditors is an amount due to a director off £4,662 (2019 - £2,962) owed to a director of the company. This loan is interest free and repayable on demand.
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MAKE IT MINE ONLINE LTD
These pages do not form part of that statutory financial statements
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