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REGISTERED NUMBER: 08936749 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

MFASL Ltd

MFASL Ltd (Registered number: 08936749)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MFASL Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M Fielding
Ms M Moran





REGISTERED OFFICE: 10 Wyndham Place
London
W1H 2PU





REGISTERED NUMBER: 08936749 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

MFASL Ltd (Registered number: 08936749)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,437 20,583

CURRENT ASSETS
Debtors 5 286,883 306,225
Cash at bank and in hand 31,457 49,190
318,340 355,415
CREDITORS
Amounts falling due within one year 6 234,825 261,664
NET CURRENT ASSETS 83,515 93,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

98,952

114,334

CREDITORS
Amounts falling due after more than one
year

7

33,021

43,056
NET ASSETS 65,931 71,278

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 65,831 71,178
SHAREHOLDERS' FUNDS 65,931 71,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

MFASL Ltd (Registered number: 08936749)

Balance Sheet - continued
31 August 2023


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 29 August 2024 and were signed on its behalf by:





M Fielding - Director


MFASL Ltd (Registered number: 08936749)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

MFASL Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

MFASL Ltd (Registered number: 08936749)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 20,732
DEPRECIATION
At 1 September 2022 149
Charge for year 5,146
At 31 August 2023 5,295
NET BOOK VALUE
At 31 August 2023 15,437
At 31 August 2022 20,583

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Amounts receivable 132,567 136,971
Other debtors 152 -
VAT 575 -
133,294 136,971

Amounts falling due after more than one year:
Loan debtor 153,589 169,254

Aggregate amounts 286,883 306,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 -
Trade creditors 35,016 35,830
Tax 80,485 99,150
Social security and other taxes 1,519 1,346
Accrued expenses 112,249 125,338
234,825 261,664

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 33,021 43,056

MFASL Ltd (Registered number: 08936749)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loan represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme.

The loan carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
49 A Ordinary £1 49 49
41 B Ordinary £1 41 41
10 C Ordinary £1 10 10
100 100

9. RESERVES
Retained
earnings
£   

At 1 September 2022 71,178
Profit for the year 34,653
Dividends (40,000 )
At 31 August 2023 65,831

10. RELATED PARTY DISCLOSURES

During the year the company paid £NIL (2022: £24,068) to Mrs S Fielding for consultancy fees.

During the year the company paid dividends of £37,000 (2022: £35,000) to Mrs S Fielding and £3,000 (2022: £2,000) to Mrs M Moran. Mrs S Fielding is the spouse of Mr Fielding, a director and Mrs M Moran is a director of the company.