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REGISTERED NUMBER: SC523006 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Mandalay North Limited

Mandalay North Limited (Registered number: SC523006)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mandalay North Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: A Gogna
H Gogna
J Singh





REGISTERED OFFICE: 15 Birkdale Crescent
Glasgow
G68 0JZ





REGISTERED NUMBER: SC523006 (Scotland)





ACCOUNTANTS: FNS Accounting
42 Nithsdale Road
Glasgow
G41 2AN

Mandalay North Limited (Registered number: SC523006)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 863,423 487,620

CURRENT ASSETS
Debtors 5 - 9,569
Cash at bank and in hand 7,515 246,350
7,515 255,919
CREDITORS
Amounts falling due within one year 6 166,760 246,974
NET CURRENT (LIABILITIES)/ASSETS (159,245 ) 8,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

704,178

496,565

CREDITORS
Amounts falling due after more than one
year

7

190,150

226,986
NET ASSETS 514,028 269,579

CAPITAL AND RESERVES
Called up share capital 9 300 300
Retained earnings 10 513,728 269,279
SHAREHOLDERS' FUNDS 514,028 269,579

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Mandalay North Limited (Registered number: SC523006)

Balance Sheet - continued
31 December 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 19 September 2023 and were signed on its behalf by:





A Gogna - Director


Mandalay North Limited (Registered number: SC523006)

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

1. STATUTORY INFORMATION

Mandalay North Limited is a private company, limited by shares , registered in Scotland. 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.

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.

3. EMPLOYEES AND DIRECTORS

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

Mandalay North Limited (Registered number: SC523006)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2022 480,195 27,500 507,695
Additions 377,288 - 377,288
At 31 December 2022 857,483 27,500 884,983
DEPRECIATION
At 1 January 2022 - 20,075 20,075
Charge for year - 1,485 1,485
At 31 December 2022 - 21,560 21,560
NET BOOK VALUE
At 31 December 2022 857,483 5,940 863,423
At 31 December 2021 480,195 7,425 487,620

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors - 9,569

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other loans (see note 8) 110,539 218,035
Trade creditors 1 -
Tax 55,620 28,339
Accrued expenses 600 600
166,760 246,974

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Other loans (see note 8) 190,150 226,986

8. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Director loan 110,539 218,035

Mandalay North Limited (Registered number: SC523006)

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

8. LOANS - continued
31.12.22 31.12.21
£    £   
Amounts falling due between one and two years:
Bank Loan 190,150 226,986

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
300 Ordinary 1 300 300

10. RESERVES
Retained
earnings
£   

At 1 January 2022 269,279
Profit for the year 244,449
At 31 December 2022 513,728