IRIS Accounts Production v24.2.0.383 02181094 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021810942023-01-31021810942024-01-31021810942023-02-012024-01-31021810942022-01-31021810942022-02-012023-01-31021810942023-01-3102181094ns15:EnglandWales2023-02-012024-01-3102181094ns14:PoundSterling2023-02-012024-01-3102181094ns10:Director12023-02-012024-01-3102181094ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3102181094ns10:SmallEntities2023-02-012024-01-3102181094ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3102181094ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3102181094ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3102181094ns10:FullAccounts2023-02-012024-01-3102181094ns10:OrdinaryShareClass12023-02-012024-01-3102181094ns10:Director22023-02-012024-01-3102181094ns10:Director32023-02-012024-01-3102181094ns10:Director42023-02-012024-01-3102181094ns10:Director52023-02-012024-01-3102181094ns10:Director62023-02-012024-01-3102181094ns10:Director72023-02-012024-01-3102181094ns10:CompanySecretary12023-02-012024-01-3102181094ns10:RegisteredOffice2023-02-012024-01-3102181094ns5:CurrentFinancialInstruments2024-01-3102181094ns5:CurrentFinancialInstruments2023-01-3102181094ns5:Non-currentFinancialInstruments2024-01-3102181094ns5:Non-currentFinancialInstruments2023-01-3102181094ns5:ShareCapital2024-01-3102181094ns5:ShareCapital2023-01-3102181094ns5:FurtherSpecificReserve3ComponentTotalEquity2024-01-3102181094ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-3102181094ns5:RetainedEarningsAccumulatedLosses2024-01-3102181094ns5:RetainedEarningsAccumulatedLosses2023-01-3102181094ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3102181094ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3102181094ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-3102181094ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-3102181094ns10:OrdinaryShareClass12024-01-3102181094ns5:RetainedEarningsAccumulatedLosses2023-01-3102181094ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-3102181094ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-31
REGISTERED NUMBER: 02181094 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MAHAL INVESTMENTS LIMITED

MAHAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02181094)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MAHAL INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: V S Mahal
S S Mahal
S S Mahal
N S Mahal
Mrs H K Mahal
Mrs C Mahal
A S Mahal





SECRETARY: N S Mahal





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





REGISTERED NUMBER: 02181094 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

MAHAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02181094)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 5,260,000 4,464,250

CURRENT ASSETS
Debtors 5 130,255 26,080
Cash at bank 74,449 274,965
204,704 301,045
CREDITORS
Amounts falling due within one year 6 253,080 96,291
NET CURRENT (LIABILITIES)/ASSETS (48,376 ) 204,754
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,211,624

4,669,004

CREDITORS
Amounts falling due after more than one year 7 (20,009 ) (30,007 )

PROVISIONS FOR LIABILITIES (198,926 ) (115,982 )
NET ASSETS 4,992,689 4,523,015

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 1,647,617 1,312,316
Retained earnings 9 3,344,972 3,210,599
SHAREHOLDERS' FUNDS 4,992,689 4,523,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MAHAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02181094)

BALANCE SHEET - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





N S Mahal - Director


MAHAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02181094)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Mahal Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable, excluding VAT.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value for the year are as follows:

- rental yield obtainable using market data and similar properties sold or on the market in the area.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price.

Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

MAHAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02181094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 4,464,250
Additions 398,505
Revaluations 397,245
At 31 January 2024 5,260,000
NET BOOK VALUE
At 31 January 2024 5,260,000
At 31 January 2023 4,464,250

The investment properties are included at there fair value. The property was valued by the directors at 31 January 2024.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 119,529 14,165
Prepayments and accrued income 10,726 11,915
130,255 26,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 100,000 -
Trade creditors 31,957 -
Corporation tax 38,560 24,632
Social security and other taxes 4,390 4,390
Accruals and deferred income 68,173 57,269
253,080 96,291

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 20,009 30,007

MAHAL INVESTMENTS LIMITED (REGISTERED NUMBER: 02181094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 3,210,599 1,312,316 4,522,915
Profit for the year 448,674 448,674
Deferred tax 82,943 (82,943 ) -
Loss on investment property - 21,000 21,000
Revaluations on
investment properties (397,244 ) 397,244 -
At 31 January 2024 3,344,972 1,647,617 4,992,589

10. RELATED PARTY DISCLOSURES

Included in other loans is a loan amounting to £100,000 (2023 - £nil) to G.S. Mahal & Co. Limited which is owned by two of the shareholders. No interest was charged on this loan.