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Registered Number: 11065352
England and Wales

 

 

 

MAS BAZAR WHITECHAPEL LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2021

End date: 31 December 2022
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 4 139,217    124,061 
139,217    124,061 
Current assets      
Stocks 5 173,810    136,560 
Debtors 6 92,245    25,420 
Cash at bank and in hand 61,057    73,345 
327,112    235,325 
Creditors: amount falling due within one year 7 (219,426)   (158,388)
Net current assets 107,686    76,937 
 
Total assets less current liabilities 246,903    200,998 
Creditors: amount falling due after more than one year 8 (44,390)   (44,396)
Accruals and deferred income 2   
Net assets 202,515    156,602 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 202,415    156,502 
Shareholder's funds 202,515    156,602 
 


For the period ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 29 September 2023 and were signed by:


-------------------------------
Ruhul ISLAM
Director
1
General Information
MAS BAZAR WHITECHAPEL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11065352, registration address 265 Whitechapel Road, London, England, E1 1BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Plant and Machinery 15% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Staff Costs

2022
£
  2021
£
Wages and salaries 161,810    125,752 
Social security costs 3,051    590 
Other staff costs 1,289   
166,150    126,342 

3.

Average number of employees

Average number of employees during the period was 7 (2021 : 15).
4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 December 2021 50,000    47,827    20,000    65,499    183,326 
Additions     32,750      32,750 
Disposals        
At 31 December 2022 50,000    47,827    52,750    65,499    216,076 
Depreciation
At 01 December 2021   18,067    15,000    26,198    59,265 
Charge for period   4,464    5,663    7,467    17,594 
On disposals        
At 31 December 2022   22,531    20,663    33,665    76,859 
Net book values
Closing balance as at 31 December 2022 50,000    25,296    32,087    31,834    139,217 
Opening balance as at 01 December 2021 50,000    29,760    5,000    39,301    124,061 


5.

Stocks

2022
£
  2021
£
Stocks 173,810    136,560 
173,810    136,560 

6.

Debtors: amounts falling due within one year

2022
£
  2021
£
VAT 92,245    25,420 
92,245    25,420 

7.

Creditors: amount falling due within one year

2022
£
  2021
£
Trade Creditors 178,183    132,123 
Corporation Tax 32,740    14,534 
PAYE & Social Security 8,503    7,331 
Accrued Expenses   4,400 
219,426    158,388 

8.

Creditors: amount falling due after more than one year

2022
£
  2021
£
Bank Loans & Overdrafts 34,390    44,396 
Directors' Loan Accounts 10,000   
44,390    44,396 

2