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Registered number: 05922643
MAHIKI LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
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MAHIKI LIMITED
REGISTERED NUMBER: 05922643
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2015
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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Capital redemption reserve
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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MAHIKI LIMITED
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MARCH 2015
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 12 February 2016.
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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MAHIKI LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company is showing net liabilities at the balance sheet date of £11,461. In order to continue trading, the company is dependent on loans from companies with common directors. The directors have confirmed the intention of said companies to continue to support the company for the forseeable future.
On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of the aforementioned support.
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Turnover comprises revenue recognised by the company in respect of food, drink and recreational services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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S/Term Leasehold Property
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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Page 3
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MAHIKI LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
2.TANGIBLE FIXED ASSETS
3.CREDITORS:
Amounts falling due within one year
The aggregate amount of creditors falling due within one year for which security has been given amounted to £166,667 (2014: £166,667).
4.CREDITORS:
Amounts falling due after more than one year
The aggregate amount of creditors falling due after more than one year for which security has been given amounted to £83,333 (2014: £250,000).
5.SHARE CAPITAL
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Allotted, called up and fully paid
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91 Ordinary shares of £1 each
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Page 4
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MAHIKI LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
6.DIRECTORS' BENEFITS: ADVANCES, CREDIT AND GUARANTEES
During the year, the directors of the company maintained unsecured loan accounts with the company. Interest at 4% is charged by the company on amounts overdrawn by the directors with the loan accounts being repayable on demand with no fixed date of repayment. The balance due from/(to) directors at the balance sheet date including the interest charged by the company in the year is shown in the table below:
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