Acorah Software Products - Accounts Production 15.0.500 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 01380277 M M Lambat S M Lambat iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01380277 2022-07-31 01380277 2023-07-31 01380277 2022-08-01 2023-07-31 01380277 frs-core:CurrentFinancialInstruments 2023-07-31 01380277 frs-core:Non-currentFinancialInstruments 2023-07-31 01380277 frs-core:ComputerEquipment 2023-07-31 01380277 frs-core:ComputerEquipment 2022-08-01 2023-07-31 01380277 frs-core:ComputerEquipment 2022-07-31 01380277 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 01380277 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-08-01 2023-07-31 01380277 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-07-31 01380277 frs-core:MotorVehicles 2023-07-31 01380277 frs-core:MotorVehicles 2022-08-01 2023-07-31 01380277 frs-core:MotorVehicles 2022-07-31 01380277 frs-core:ShareCapital 2023-07-31 01380277 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 01380277 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 01380277 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 01380277 frs-bus:SmallEntities 2022-08-01 2023-07-31 01380277 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 01380277 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 01380277 frs-bus:Director1 2022-08-01 2023-07-31 01380277 frs-bus:Director1 2022-07-31 01380277 frs-bus:Director1 2023-07-31 01380277 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 01380277 frs-countries:EnglandWales 2022-08-01 2023-07-31 01380277 2021-07-31 01380277 2022-07-31 01380277 2021-08-01 2022-07-31 01380277 frs-core:CurrentFinancialInstruments 2022-07-31 01380277 frs-core:Non-currentFinancialInstruments 2022-07-31 01380277 frs-core:ShareCapital 2022-07-31 01380277 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 01380277
Maxknit Fabrics Limited
Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01380277
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,592 28,639
26,592 28,639
CURRENT ASSETS
Stocks 5 55,350 69,220
Debtors 6 54,777 87,131
Investments 7 43,740 43,740
Cash at bank and in hand 166,178 183,209
320,045 383,300
Creditors: Amounts Falling Due Within One Year 8 (136,098 ) (152,885 )
NET CURRENT ASSETS (LIABILITIES) 183,947 230,415
TOTAL ASSETS LESS CURRENT LIABILITIES 210,539 259,054
Creditors: Amounts Falling Due After More Than One Year 9 (20,004 ) (30,004 )
NET ASSETS 190,535 229,050
CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Profit and Loss Account 180,535 219,050
SHAREHOLDERS' FUNDS 190,535 229,050
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M M Lambat
Director
10th July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Maxknit Fabrics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01380277 . The registered office is Watergates Building, 109 Coleman Road, Leicester, LE5 4LE.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 2% on cost
Motor Vehicles 20% on Cost
Computer Equipment 25% on Cost
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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Page 4
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 40,936 10,400 20,799 72,135
Additions - - 1,015 1,015
As at 31 July 2023 40,936 10,400 21,814 73,150
Depreciation
As at 1 August 2022 18,509 10,399 14,588 43,496
Provided during the period 819 - 2,243 3,062
As at 31 July 2023 19,328 10,399 16,831 46,558
Net Book Value
As at 31 July 2023 21,608 1 4,983 26,592
As at 1 August 2022 22,427 1 6,211 28,639
5. Stocks
2023 2022
£ £
Stock 55,350 69,220
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 24,195 43,116
Other debtors 30,582 44,015
54,777 87,131
7. Current Asset Investments
2023 2022
£ £
Unlisted investments 43,740 43,740
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 103,534 123,094
Bank loans and overdrafts 9,996 9,996
Other creditors 14,853 12,844
Taxation and social security 7,715 6,951
136,098 152,885
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 20,004 30,004
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
11. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 July 2023
£ £ £ £ £
Mr. Mohammed Lambat 8,322 6,434 (4,051 ) - 10,705
The above loan has been repaid since preparing accounts.
12. Related Party Transactions
The company was under the control of Mr M Lambat, the managing director throughout the current and previous year.
During the year the company had the use of premises owned by the directors. The rent charged was nil for the current year and previous year.
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