Maltby & Greek Wholesale Limited Filleted accounts for Companies House (small and micro)

MALTBY & GREEK WHOLESALE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08810322

MALTBY & GREEK WHOLESALE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2023

MALTBY & GREEK WHOLESALE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

MALTBY & GREEK WHOLESALE LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mr I Chatziioannou
	Mr A Luoma
	Miss E Papanikolaou
	Mr S Kokotos
	Mr V Bacolitsas

Registered office	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

Accountants	TC BSG Valentine Limited
	Accountants
	Lynton House
	7-12 Tavistock Square
	London
	WC1H 9BQ

MALTBY & GREEK WHOLESALE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2023

	2023		2022
Note	£	£	£	£

FIXED ASSETS

Intangible assets	4	27,819	–
Tangible assets	5	80,973	113,605
Investments	6	1	1
		---------	---------
		108,793	113,606

CURRENT ASSETS

Stocks		616,046	299,318
Debtors	7	446,489	302,063
Cash at bank and in hand		71,150	431
		------------	---------
		1,133,685	601,812

CREDITORS: amounts falling due within one year	8	( 578,947)		( 327,451)
		------------		---------
NET CURRENT ASSETS			554,738		274,361
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			663,531		387,967

CREDITORS: amounts falling due after more than one year	9	( 107,364)	( 42,019)
		---------	---------
NET ASSETS		556,167	345,948
		---------	---------

CAPITAL AND RESERVES

Called up share capital	392	361
Share premium account	801,837	547,221
Profit and loss account	( 246,062)	( 201,634)
	---------	---------
SHAREHOLDERS FUNDS	556,167	345,948
	---------	---------

These 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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MALTBY & GREEK WHOLESALE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 29 December 2023 , and are signed on behalf of the board by:

Mr I Chatziioannou

Director

Company registration number: 08810322

MALTBY & GREEK WHOLESALE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7 - 12 Tavistock Square, London, WC1H 9BQ.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% straight line
Motor Vehicles	-	20% straight line
Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2022: 10 ).

4. Intangible assets

	Website
	£
Cost
Additions	31,735
	--------
At 31 March 2023	31,735
	--------
Amortisation
Charge for the year	3,916
	--------
At 31 March 2023	3,916
	--------
Carrying amount
At 31 March 2023	27,819
	--------
At 31 March 2022	–
	--------

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2022	156,631	48,735	269	205,635
Additions	5,145	–	1,992	7,137
	---------	--------	-------	---------
At 31 March 2023	161,776	48,735	2,261	212,772
	---------	--------	-------	---------
Depreciation
At 1 April 2022	74,959	16,802	269	92,030
Charge for the year	29,531	9,746	492	39,769
	---------	--------	-------	---------
At 31 March 2023	104,490	26,548	761	131,799
	---------	--------	-------	---------
Carrying amount
At 31 March 2023	57,286	22,187	1,500	80,973
	---------	--------	-------	---------
At 31 March 2022	81,672	31,933	–	113,605
	---------	--------	-------	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2022 and 31 March 2023	1
	----
Impairment
At 1 April 2022 and 31 March 2023	–
	----

Carrying amount
At 31 March 2023	1
	----
At 31 March 2022	1
	----

7. Debtors

	2023	2022
	£	£
Trade debtors	259,248	197,667
Other debtors	187,241	104,396
	---------	---------
	446,489	302,063
	---------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	22,882	25,093
Trade creditors	452,282	222,033
Social security and other taxes	38,855	35,791
Other creditors	64,928	44,534
	---------	---------
	578,947	327,451
	---------	---------

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	107,364	42,019
	---------	--------

The bank loans and overdrafts are secured over the company's assets.

10. Related party transactions

The company has taken advantage of the exemption allowed under the Financial Reporting Standard 102 not to disclose related party transactions between wholly owned members of the same group of companies.