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REGISTERED NUMBER: 08433282 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Musalar & Co Accountants Limited

Musalar & Co Accountants Limited (Registered number: 08433282)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Musalar & Co Accountants Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: H Y 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 Accountants Limited (Registered number: 08433282)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 91,350 92,365
Tangible assets 5 8,360 19,062
99,710 111,427

CURRENT ASSETS
Debtors 6 14,750 11,044
Cash at bank and in hand 113,965 54,208
128,715 65,252
CREDITORS
Amounts falling due within one year 7 68,019 63,614
NET CURRENT ASSETS 60,696 1,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

160,406

113,065

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Retained earnings 10 155,406 108,065
SHAREHOLDERS' FUNDS 160,406 113,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Accountants Limited (Registered number: 08433282)

Balance Sheet - continued
31 March 2023


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 21 October 2023 and were signed on its behalf by:





H Y Musalar - Director


Musalar & Co Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Musalar & Co Accountants Limited 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 Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

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 6 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 101,500
AMORTISATION
At 1 April 2022 9,135
Amortisation for year 1,015
At 31 March 2023 10,150
NET BOOK VALUE
At 31 March 2023 91,350
At 31 March 2022 92,365

Musalar & Co Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022 72,974
Additions 4,867
At 31 March 2023 77,841
DEPRECIATION
At 1 April 2022 53,912
Charge for year 15,569
At 31 March 2023 69,481
NET BOOK VALUE
At 31 March 2023 8,360
At 31 March 2022 19,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 8,418 4,712
Other debtors 300 300
Prepayments 6,032 6,032
14,750 11,044

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 8) - 28
Trade creditors 3,976 10,216
Paye 3,772 3,209
Tax 25,456 24,270
VAT 20,458 18,090
Other creditors 14,357 7,801
68,019 63,614

Musalar & Co Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 28

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
5,000 Ordinary Shares Class A 1.00 5,000 5,000

10. RESERVES
Retained
earnings
£   

At 1 April 2022 108,065
Profit for the year 99,082
Dividends (51,741 )
At 31 March 2023 155,406