Company Registration No. 12154547 (England and Wales)
M&R DELIGHTS LIMITED
Unaudited accounts
for the year ended 31 July 2023
M&R DELIGHTS LIMITED
Statement of financial position
as at 31 July 2023
Tangible assets
37,703
45,979
Cash at bank and in hand
62,818
40,864
Creditors: amounts falling due within one year
(51,576)
(39,050)
Net current assets
22,099
9,538
Total assets less current liabilities
59,802
55,517
Creditors: amounts falling due after more than one year
(17,382)
(27,887)
Provisions for liabilities
Deferred tax
(1,302)
(1,587)
Called up share capital
100
100
Profit and loss account
41,018
25,943
Shareholders' funds
41,118
26,043
For the year ending 31 July 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 14 March 2024 and were signed on its behalf by
Sami Ijaz Rao
Director
Company Registration No. 12154547
M&R DELIGHTS LIMITED
Notes to the Accounts
for the year ended 31 July 2023
M&R DELIGHTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12154547. The registered office is 46 SHUTTLEWORTH LANE, BARDFORD, BD8 0JR, ENGLAND.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% Reducing Balance
Motor vehicles
18% Reducing Balance
Fixtures & fittings
18% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 assets and liabilities are not discounted.
Government grants and fundings are credited to the profit and loss account in the period the related expenditure is recognised.
M&R DELIGHTS LIMITED
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Total
5
Deferred taxation
2023
2022
Accelerated capital allowances
1,302
1,587
Provision at start of year
1,587
1,935
Credited to the profit and loss account
(285)
(348)
Provision at end of year
1,302
1,587
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
7
Average number of employees
During the year the average number of employees was 4 (2022: 4).