REGISTERED NUMBER: |
MIGRANT ASSIST LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2022 |
REGISTERED NUMBER: |
MIGRANT ASSIST LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2022 |
MIGRANT ASSIST LIMITED (REGISTERED NUMBER: 08791325) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2022 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
MIGRANT ASSIST LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH NOVEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
923 Finchley Road |
London |
NW11 7PE |
MIGRANT ASSIST LIMITED (REGISTERED NUMBER: 08791325) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
30TH NOVEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
MIGRANT ASSIST LIMITED (REGISTERED NUMBER: 08791325) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
30TH NOVEMBER 2022 |
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 |
MIGRANT ASSIST LIMITED (REGISTERED NUMBER: 08791325) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2022 |
1. | STATUTORY INFORMATION |
Migrant Assist Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements - going concern |
The directors have undertaken not to withdraw their loans to the company until alternative sources of finance are in place. For this reason, the directors believe that the going concern basis is the appropriate basis for the preparation of these financial statements. |
Turnover |
Turnover represents invoiced sales of services. |
Tangible fixed assets |
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. |
Depreciation is provided on the following basis: |
Fixtures and fittings - 50.00% on cost |
Computer equipment - 50.00% on cost |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
MIGRANT ASSIST LIMITED (REGISTERED NUMBER: 08791325) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The Company only enters into basic financial instruments 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 non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st December 2021 |
and 30th November 2022 |
DEPRECIATION |
At 1st December 2021 |
Charge for year |
At 30th November 2022 |
NET BOOK VALUE |
At 30th November 2022 |
At 30th November 2021 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
6. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £10,850 were paid to the directors . |
During the year, various amounts were advanced to a director, L Saldanha Da Silva amounting to £12,480 (2021: £18,149) which includes interest of £261 charged on the average overdrawn balance at a rate of 2.5%. Amounts were repaid in the year totalling £10,850 (2021: £7,700). |
At the year end the balance owed to the company was £12,079 (2021: £10,449). This loan carries interest and repayable on demand. |
MIGRANT ASSIST LIMITED (REGISTERED NUMBER: 08791325) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2022 |
7. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |