Registered number
06357971
M.A.K. Couriers Limited
Filleted Accounts
31 August 2021
M.A.K. Couriers Limited
Registered number: 06357971
Balance Sheet
as at 31 August 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 30,000 30,000
Tangible assets 4 3,569 4,758
33,569 34,758
Current assets
Debtors 5 136,071 85,524
Cash at bank and in hand 362 6,433
136,433 91,957
Creditors: amounts falling due within one year 6 (166,312) (116,093)
Net current liabilities (29,879) (24,136)
Total assets less current liabilities 3,690 10,622
Creditors: amounts falling due after more than one year 7 (50,000) (50,000)
Net liabilities (46,310) (39,378)
Capital and reserves
Called up share capital 2 2
Profit and loss account (46,312) (39,380)
Shareholders' funds (46,310) (39,378)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit 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 the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K. Sandhar
Director
Approved by the board on 3 August 2022
M.A.K. Couriers Limited
Notes to the Accounts
for the year ended 31 August 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2020 30,000
At 31 August 2021 30,000
Amortisation
At 31 August 2021 -
Net book value
At 31 August 2021 30,000
At 31 August 2020 30,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
Cost
At 1 September 2020 24,252
At 31 August 2021 24,252
Depreciation
At 1 September 2020 19,494
Charge for the year 1,189
At 31 August 2021 20,683
Net book value
At 31 August 2021 3,569
At 31 August 2020 4,758
5 Debtors 2021 2020
Trade debtors 31,886 6,070
Amounts owed by group undertakings and undertakings in which the company has a participating interest 104,185 79,454
136,071 85,524
6 Creditors: amounts falling due within one year 2021 2020
Bank loans and overdrafts 20,108 6,507
Trade creditors 20,586 4,458
Amounts owed to group undertakings and undertakings in which the company has a participating interest 101,670 84,779
Taxation and social security costs 22,998 19,399
Other creditors 950 950
166,312 116,093
7 Creditors: amounts falling due after one year 2021 2020
Bank loans 50,000 50,000
8 Other information
M.A.K. Couriers Limited is a private company limited by shares and incorporated in England. Its registered office is:
45 Anglian Way
Coventry
CV3 1QR
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