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COMPANY REGISTRATION NUMBER: 11248430
Mayin Investments Limited
Filleted Unaudited Financial Statements
28 February 2023
Mayin Investments Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Current assets
Debtors
5
225,000
100
Cash at bank and in hand
7,158
---------
----
232,158
100
Creditors: amounts falling due within one year
6
232,010
---------
----
Net current assets
148
100
----
----
Total assets less current liabilities
148
100
----
----
Net assets
148
100
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
48
----
----
Shareholders funds
148
100
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 January 2024 , and are signed on behalf of the board by:
Mr R Popat
Director
Company registration number: 11248430
Mayin Investments Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Soar Lane, Soar Lane, Leicester, United Kingdom, LE3 5DE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is loan interest received or receivable for services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: Nil).
5. Debtors
2023
2022
£
£
Other debtors
225,000
100
---------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
950
Other creditors
231,060
---------
----
232,010
---------
----
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Popat
( 230,060)
( 230,060)
----
----
---------
---------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Popat
100
100
----
----
----
----