Registered number
SC688695
MDS SINGH LTD
Filleted Accounts
29 February 2024
MDS SINGH LTD
Registered number: SC688695
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 40,000 40,000
Tangible assets 4 37,158 40,497
Investments - -
77,158 80,497
Current assets
Stocks 70,950 31,450
Debtors - -
Investments held as current assets - -
Cash at bank and in hand 8,995 19,970
79,945 51,420
Creditors: amounts falling due within one year 5 (151,448) (127,524)
Net current liabilities (71,503) (76,104)
Total assets less current liabilities 5,655 4,393
Creditors: amounts falling due after more than one year - -
Provisions for liabilities - -
Net assets 5,655 4,393
Capital and reserves
Called up share capital 100 100
Share premium - -
Revaluation reserve - -
Profit and loss account 5,555 4,293
Shareholder's funds 5,655 4,393
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
SANDEEP SINGH
Director
Approved by the board on 28 March 2024
MDS SINGH LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at 10% reducing balance basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 40,000
Additions -
Disposals -
At 29 February 2024 40,000
Amortisation
At 1 March 2023 -
Provided during the year -
On disposals -
At 29 February 2024 -
Net book value
At 29 February 2024 40,000
At 28 February 2023 40,000
4 Tangible fixed assets
Fixtures & fittings Total
£ £
Cost
At 1 March 2023 48,650 48,650
Additions 789 789
Surplus on revaluation - -
Disposals - -
At 29 February 2024 49,439 49,439
Depreciation
At 1 March 2023 8,153 8,153
Charge for the year 4,128 4,128
Surplus on revaluation - -
On disposals - -
At 29 February 2024 12,281 12,281
Net book value
At 29 February 2024 37,158 37,158
At 28 February 2023 40,497 40,497
5 Creditors: amounts falling due within one year 2024 2023
£ £
Non-equity preference shares - -
Bank loans and overdrafts - -
Obligations under finance lease and hire purchase contracts - -
Trade creditors 48,739 5,279
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Taxation and social security costs 7,236 2,835
Other creditors 95,473 119,410
151,448 127,524
6 Off-balance sheet arrangements
None.
7 Other information
MDS SINGH LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
43 FIR VIEW
CALDERBANK
ML6 9SW
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