Company Registration No. 05698770 (England and Wales)
Part Master Direct Limited
Unaudited accounts
for the year ended 28 February 2023
Part Master Direct Limited
Unaudited accounts
Contents
Part Master Direct Limited
Company Information
for the year ended 28 February 2023
Directors
Lotifa Khanam
Ashraful Islam
Company Number
05698770 (England and Wales)
Registered Office
Unit 4 Kubrick Business Estate
Station Approach
London
E7 0UH
Accountants
Anthony Daniel Associates
10 Julian Place
London
E14 3AT
Part Master Direct Limited
Statement of financial position
as at 28 February 2023
Tangible assets
4,709
11,434
Inventories
219,638
255,178
Cash at bank and in hand
52,123
18,323
Creditors: amounts falling due within one year
(304,426)
(331,752)
Net current assets
240,520
233,274
Total assets less current liabilities
245,229
244,708
Creditors: amounts falling due after more than one year
(29,659)
(51,919)
Net assets
215,570
192,789
Called up share capital
2
2
Profit and loss account
215,568
192,787
Shareholders' funds
215,570
192,789
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by
Ashraful Islam
Director
Company Registration No. 05698770
Part Master Direct Limited
Notes to the Accounts
for the year ended 28 February 2023
Part Master Direct Limited is a private company, limited by shares, registered in England and Wales, registration number 05698770. The registered office is Unit 4 Kubrick Business Estate, Station Approach, London, E7 0UH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on cost
Stocks and work-in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Part Master Direct Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2022
3,045
43,646
11,110
3,654
61,455
Additions
1,882
-
-
-
1,882
At 28 February 2023
4,927
43,646
11,110
3,654
63,337
At 1 March 2022
1,336
33,921
11,110
3,654
50,021
Charge for the year
828
7,779
-
-
8,607
At 28 February 2023
2,164
41,700
11,110
3,654
58,628
At 28 February 2023
2,763
1,946
-
-
4,709
At 28 February 2022
1,709
9,725
-
-
11,434
Amounts falling due within one year
Trade debtors
25,968
23,452
Accrued income and prepayments
7,267
6,123
Other debtors
239,950
261,950
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
-
5,906
Trade creditors
194,116
156,887
Taxes and social security
81,341
85,774
Loans from directors
16,222
72,201
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
19,419
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Part Master Direct Limited
Notes to the Accounts
for the year ended 28 February 2023
9
Average number of employees
During the year the average number of employees was 11 (2022: 9).