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
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
M.K. Carpets Ltd
Statement of financial position
as at 27 February 2023
Tangible assets
3,108
4,514
Cash at bank and in hand
3,813
34,952
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)
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
M.K. Carpets Ltd
Notes to the Accounts
for the year ended 27 February 2023
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.
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
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
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
At 27 February 2023
2,522
586
3,108
At 27 February 2022
3,782
732
4,514
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
Taxes and social security
80,677
70,677
Loans from directors
29,082
-
6
Creditors: amounts falling due after more than one year
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).