Registered number
10160948
MA & Associates Ltd
Unaudited Filleted Accounts
31 May 2023
MA & Associates Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of MA & Associates Ltd for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MA & Associates Ltd for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Pitts & SeeUs
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
2 November 2023
MA & Associates Ltd
Registered number: 10160948
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 542 677
Investments 3 325,000 325,000
325,542 325,677
Current assets
Debtors 4 34,123 -
Cash at bank and in hand 11,377 16,986
45,500 16,986
Creditors: amounts falling due within one year 5 (11,215) (717)
Net current assets 34,285 16,269
Total assets less current liabilities 359,827 341,946
Creditors: amounts falling due after more than one year 6 (21,875) (40,833)
Net assets 337,952 301,113
Capital and reserves
Called up share capital 100 100
Profit and loss account 337,852 301,013
Shareholder's funds 337,952 301,113
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 M A Ahmed
Director
Approved by the board on 2 November 2023
MA & Associates Ltd
Notes to the Accounts
for the year ended 31 May 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 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.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Average number of persons employed by the company - -
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 1,971
At 31 May 2023 1,971
Depreciation
At 1 June 2022 1,294
Charge for the year 135
At 31 May 2023 1,429
Net book value
At 31 May 2023 542
At 31 May 2022 677
3 Investments
Other
investments
£
Cost
At 1 June 2022 325,000
At 31 May 2023 325,000
4 Debtors 2023 2022
£ £
Other debtors 34,123 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,900 -
Other creditors 1,315 717
11,215 717
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,875 40,833
7 Controlling party
The director control the company by virtue of his 100% shareholding.
8 Other information
MA & Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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