Company Registration No. 09288183 (England and Wales)
M. AHMED REFURBISHMENTS LIMITED
ANNUAL AND REPORT
AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
M. AHMED REFURBISHMENTS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,054
695
Current assets
Debtors
4
31,496
10,584
Cash at bank and in hand
83,165
105,614
114,661
116,198
Creditors: amounts falling due within one year
5
(60,649)
(68,090)
Net current assets
54,012
48,108
Total assets less current liabilities
55,066
48,803
Creditors: amounts falling due after more than one year
6
(17,917)
(26,930)
Net assets
37,149
21,873
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
37,049
21,773
Total equity
37,149
21,873
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
M. AHMED REFURBISHMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
2
The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
Mr M Ahmed
Director
Company Registration No. 09288183
M. AHMED REFURBISHMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
3
1
Accounting policies
Company information
M. Ahmed Refurbishments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 16 Whiteshute Lane, St Cross, Winchester, Hampshire, SO23 9RA.
1.1
Accounting convention
These financial statements are the first to have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The reported financial position and financial performance for the year are not affected by the transition to FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment
33% straight line
Computer equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
M. AHMED REFURBISHMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies (Continued)
4
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
M. AHMED REFURBISHMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
4,493
Additions
1,025
At 31 October 2023
5,518
Depreciation and impairment
At 1 November 2022
3,798
Depreciation charged in the year
666
At 31 October 2023
4,464
Carrying amount
At 31 October 2023
1,054
At 31 October 2022
695
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
22,420
Other debtors
9,076
10,584
31,496
10,584
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,781
6,817
Taxation and social security
13,539
16,739
Other creditors
41,329
44,534
60,649
68,090
M. AHMED REFURBISHMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
6
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
17,917
26,930
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
100
100