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Registered number: 02552082










MAYFAIR TRADING CORPORATION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
MAYFAIR TRADING CORPORATION LIMITED
REGISTERED NUMBER: 02552082

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

  

Current assets
  

Current asset investments
 3 
9,057
6,657

Cash at bank and in hand
  
1,066
727

  
10,123
7,384

Creditors: amounts falling due within one year
 4 
(93,765)
(87,732)

Net current liabilities
  
 
 
(83,642)
 
 
(80,348)

Total assets less current liabilities
  
(83,642)
(80,348)

  

Net liabilities
  
(83,642)
(80,348)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
(83,842)
(80,548)

  
(83,642)
(80,348)


Page 1

 
MAYFAIR TRADING CORPORATION LIMITED
REGISTERED NUMBER: 02552082
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






M Alexander
Director

Date: 3 November 2023

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
MAYFAIR TRADING CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Mayfair Trading Corporation Limited (02552082) is a private company limited by shares and incorporated in England & Wales. Its registered office is 17a Larkfield Road, Surrey, GU9 7DB. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year under review the company made a loss of £3,294 (2021: £1,025 profit), and at the end of the year had carried forward retained losses of £83,642 (2021: £80,348). This may call into question the company’s continued ability to trade.
The company continues to be supported financially by the parent company and by the company's director, being the ultimate controlling party. This support will remain for the foreseeable future. 
The director therefore considers it appropriate for the accounts to be prepared on a going concern basis.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
MAYFAIR TRADING CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Current asset investments

2023
2022
£
£

Unlisted investments
9,057
6,657



4.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
86,300
86,300

Other creditors
6,955
940

Accruals and deferred income
510
492

93,765
87,732


 
Page 4