2023-03-012024-02-292024-02-29false11219156MALT COURT 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MALT COURT LIMITED

Registered Number
11219156
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MALT COURT LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

METHVEN, Kate Ellen

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

11219156 (England and Wales)
MALT COURT LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets38,0049,043
Tangible assets4156,487202,686
164,491211,729
Current assets
Stocks9,5189,476
Debtors519,91130,143
Cash at bank and on hand76,144259,209
105,573298,828
Creditors amounts falling due within one year6(139,681)(334,673)
Net current assets (liabilities)(34,108)(35,845)
Total assets less current liabilities130,383175,884
Creditors amounts falling due after one year7(40,628)(70,893)
Provisions for liabilities(28,979)(28,962)
Net assets60,77676,029
Capital and reserves
Called up share capital100100
Profit and loss account60,67675,929
Shareholders' funds60,77676,029
The financial statements were approved and authorised for issue by the Director on 20 August 2024, and are signed on its behalf by:
METHVEN, Kate Ellen
Director
Registered Company No. 11219156
MALT COURT LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover includes revenue earned from the sale of goods and from the rendering services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortization and any accumulated impairment losses. Intangible assets are being amortised over its useful life of 15 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-15
Plant and machinery15-
Fixtures and fittings-6.67
Office Equipment10-
Finance leases and hire purchase contracts
Hire purchase and leasing commitments Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and net realizable value, after making due allowance for obsolete and slow moving items.
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.Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year2121
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 2312,75012,750
At 29 February 2412,75012,750
Amortisation and impairment
At 01 March 233,7073,707
Charge for year1,0391,039
At 29 February 244,7464,746
Net book value
At 29 February 248,0048,004
At 28 February 239,0439,043
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 March 2388,132117,306200,4378,982414,857
Additions-3,208--3,208
At 29 February 2488,132120,514200,4378,982418,065
Depreciation and impairment
At 01 March 2337,87760,099111,9002,295212,171
Charge for year9,6908,98230,06666949,407
At 29 February 2447,56769,081141,9662,964261,578
Net book value
At 29 February 2440,56551,43358,4716,018156,487
At 28 February 2350,25557,20788,5376,687202,686
5.Debtors: amounts due within one year

2024

2023

££
Other debtors15,13818,348
Prepayments and accrued income4,77311,795
Total19,91130,143
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8,3374,453
Bank borrowings and overdrafts30,33233,867
Taxation and social security32,62030,757
Other creditors68,392259,784
Accrued liabilities and deferred income-5,812
Total139,681334,673
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts40,62870,893
Total40,62870,893
Included in creditors within one year and after one year are bank loans of £47,681 (2023: £71,548) which are secured by a fixed and floating charge over the assets of the company. In addition there is a bounce bank loan of £23,280 (2023 : £33,213).
8.Related party transactions
Included in other creditors at the year end is an amount of £67,989 (2023: £258,554) due to the directors.
9.Further information regarding the company's financial position
Operating Lease commitments At the reporting end date the company had total outstanding commitments for future minimum lease payments under non-cancellable operating leases of £507,407 (2023:£540,525)