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REGISTERED NUMBER: 08433282 (England and Wales)















Financial Statements for the Year Ended 31 March 2022

for

Musalar & Co AccountantsLimited

Musalar & Co AccountantsLimited (Registered number: 08433282)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Musalar & Co AccountantsLimited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: H Y Musalar
Mrs G Musalar





REGISTERED OFFICE: 536 Lordship Lane
Woodgreen
London
N22 5BY





REGISTERED NUMBER: 08433282 (England and Wales)





ACCOUNTANTS: Musalar & Co Accountants
International Accountant &Tax Consultant
FAIA, FFA, FCPA, FFTA
536 Lordship Lane
London
N22 5BY

Musalar & Co AccountantsLimited (Registered number: 08433282)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 92,365 93,380
Tangible assets 5 19,062 26,486
111,427 119,866

CURRENT ASSETS
Debtors 6 11,044 23,236
Investments 7 - 6,600
Cash at bank and in hand 54,208 182,060
65,252 211,896
CREDITORS
Amounts falling due within one year 8 63,614 57,838
NET CURRENT ASSETS 1,638 154,058
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,065

273,924

CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Retained earnings 11 108,065 268,924
SHAREHOLDERS' FUNDS 113,065 273,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Musalar & Co AccountantsLimited (Registered number: 08433282)

Balance Sheet - continued
31 March 2022


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 Board of Directors and authorised for issue on 14 August 2022 and were signed on its behalf by:





Mrs G Musalar - Director


Musalar & Co AccountantsLimited (Registered number: 08433282)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Musalar & Co AccountantsLimited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Musalar & Co AccountantsLimited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 101,500
AMORTISATION
At 1 April 2021 8,120
Amortisation for year 1,015
At 31 March 2022 9,135
NET BOOK VALUE
At 31 March 2022 92,365
At 31 March 2021 93,380

Musalar & Co AccountantsLimited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2021 65,803
Additions 7,171
At 31 March 2022 72,974
DEPRECIATION
At 1 April 2021 39,317
Charge for year 14,595
At 31 March 2022 53,912
NET BOOK VALUE
At 31 March 2022 19,062
At 31 March 2021 26,486

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 4,712 11,109
Other debtors 300 -
Prepayments 6,032 12,127
11,044 23,236

7. CURRENT ASSET INVESTMENTS
31.3.22 31.3.21
£    £   
Investments - 6,600

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts (see note 9) 28 -
Trade creditors 10,216 2,723
Paye 3,209 3,348
Tax 24,270 23,207
VAT 18,090 19,104
Other creditors 7,801 9,456
63,614 57,838

Musalar & Co AccountantsLimited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

9. LOANS

An analysis of the maturity of loans is given below:

31.3.22 31.3.21
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 28 -

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
5,000 Ordinary Shares Class A 1.00 5,000 5,000

11. RESERVES
Retained
earnings
£   

At 1 April 2021 268,924
Profit for the year 97,177
Dividends (258,036 )
At 31 March 2022 108,065