Registered number
04591872
Maitri Ltd
Filleted Accounts
for the year ended 31 January 2023
Maitri Ltd
Registered number: 04591872
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 10,950 14,600
Tangible assets 4 640 800
11,590 15,400
Current assets
Stocks 33,124 34,862
Debtors 5 38,500 52,690
Cash at bank and in hand 1,141 7,269
72,765 94,821
Creditors: amounts falling due within one year 6 (70,172) (57,736)
Net current assets 2,593 37,085
Total assets less current liabilities 14,183 52,485
Creditors: amounts falling due after more than one year 7 (49,806) (51,978)
Net (liabilities)/assets (35,623) 507
Capital and reserves
Called up share capital 4 4
Profit and loss account (35,627) 503
Shareholders' funds (35,623) 507
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.
Mr Krishan Dhokia
Director
Approved by the board on 10 October 2023
Maitri Ltd
Notes to the Accounts
for the year ended 31 January 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings Nil
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 73,000
At 31 January 2023 73,000
Amortisation
At 1 February 2022 58,400
Provided during the year 3,650
At 31 January 2023 62,050
Net book value
At 31 January 2023 10,950
At 31 January 2022 14,600
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 14,943
At 31 January 2023 14,943
Depreciation
At 1 February 2022 14,143
Charge for the year 160
At 31 January 2023 14,303
Net book value
At 31 January 2023 640
At 31 January 2022 800
5 Debtors 2023 2022
£ £
Other debtors 38,500 52,690
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 23,176 23,543
Trade creditors 36,123 24,417
Nest Pension 37 37
Taxation and social security costs 9,669 9,560
Other creditors 1,167 179
70,172 57,736
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 49,806 51,978
8 Other information
Maitri Ltd is a private company limited by shares and incorporated in England. Its registered office is:
25 Balham High Road
Balham
London
SW12 9AL
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