Company Registration No. 08326829 (England and Wales)
MDA Home Ltd
Unaudited filleted accounts
for the year ended 28 February 2023
MDA Home Ltd
Unaudited filleted accounts
Contents
MDA Home Ltd
Company Information
for the year ended 28 February 2023
Directors
Martyn David Allen
Daran Salimian
Company Number
08326829 (England and Wales)
Registered Office
Unit 8
Lyon Way Industrial Estate
Greenford
Middlesex
UB6 0BN
Accountants
1g Accountants
71 Cheyne Walk
London
NW4 3QU
MDA Home Ltd
Statement of financial position
as at 28 February 2023
Inventories
83,722
185,840
Cash at bank and in hand
32,615
54,855
Creditors: amounts falling due within one year
(108,144)
(212,431)
Net current assets
54,491
120,191
Total assets less current liabilities
54,491
120,191
Creditors: amounts falling due after more than one year
(74,011)
(130,795)
Net liabilities
(19,520)
(10,604)
Called up share capital
3
3
Profit and loss account
(19,523)
(10,607)
Shareholders' funds
(19,520)
(10,604)
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
Daran Salimian
Director
Company Registration No. 08326829
MDA Home Ltd
Notes to the Accounts
for the year ended 28 February 2023
MDA Home Ltd is a private company, limited by shares, registered in England and Wales, registration number 08326829. The registered office is Unit 8, Lyon Way Industrial Estate, Greenford, Middlesex, UB6 0BN.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised in other comprehensive income is likewise recognised in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been substantively enacted by the reporting date.
4
Tangible fixed assets
Plant & machinery
At 28 February 2023
30,095
At 28 February 2023
30,095
MDA Home Ltd
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
Trade debtors
13,837
27,446
Accrued income and prepayments
32,461
64,481
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
33,230
32,930
Trade creditors
12,549
52,361
Taxes and social security
1,064
13,247
Other creditors
9,169
9,171
Loans from directors
26,700
69,170
7
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
-
29,750
8
Transactions with related parties
Included within other expenses is recharged administrative expenses of £37,204 (2022: £58,168) and direct costs of £7,004 (2022: £252,426) payable to Luxural Limited, a company associated by virtue of significant common management and control. Included in sales is an amount of £6,527 (2022: £16,133) in relation to Trade Sales to that company. Included in other creditors is an amount of £9,171 (2022: £9,171) owed to that company.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).