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Company Registration No. 07284011 (England and Wales)
M.K. Carpets Ltd Unaudited accounts for the year ended 27 February 2023
M.K. Carpets Ltd Unaudited accounts Contents
Page
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M.K. Carpets Ltd Company Information for the year ended 27 February 2023
Directors
Rashid Khan Sarid Khan
Company Number
07284011 (England and Wales)
Registered Office
192 ILFORD LANE ILFORD ESSEX IG1 2LJ
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M.K. Carpets Ltd Statement of financial position as at 27 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,108 
4,514 
Current assets
Inventories
46,050 
43,550 
Cash at bank and in hand
3,813 
34,952 
49,863 
78,502 
Creditors: amounts falling due within one year
(151,655)
(174,046)
Net current liabilities
(101,792)
(95,544)
Total assets less current liabilities
(98,684)
(91,030)
Creditors: amounts falling due after more than one year
(38,868)
(44,400)
Net liabilities
(137,552)
(135,430)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(137,553)
(135,431)
Shareholders' funds
(137,552)
(135,430)
For the year ending 27 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 20 February 2024 and were signed on its behalf by
Rashid Khan Director Company Registration No. 07284011
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M.K. Carpets Ltd Notes to the Accounts for the year ended 27 February 2023
1
Statutory information
M.K. Carpets Ltd is a private company, limited by shares, registered in England and Wales, registration number 07284011. The registered office is 192 ILFORD LANE, ILFORD, ESSEX, IG1 2LJ.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
20% on Straight Line Method
Fixtures & fittings
20% at reducing balance method
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 28 February 2022
6,304 
3,686 
9,990 
At 27 February 2023
6,304 
3,686 
9,990 
Depreciation
At 28 February 2022
2,522 
2,954 
5,476 
Charge for the year
1,260 
146 
1,406 
At 27 February 2023
3,782 
3,100 
6,882 
Net book value
At 27 February 2023
2,522 
586 
3,108 
At 27 February 2022
3,782 
732 
4,514 
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M.K. Carpets Ltd Notes to the Accounts for the year ended 27 February 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
41,896 
103,369 
Taxes and social security
80,677 
70,677 
Loans from directors
29,082 
- 
151,655 
174,046 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
38,868 
44,400 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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