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REGISTERED NUMBER: 08433282 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Musalar & Co Accountants Limited

Musalar & Co Accountants Limited (Registered number: 08433282)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Musalar & Co Accountants Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: H Y Musalar





REGISTERED OFFICE: 536 Lordship Lane
Woodgreen
London
N22 5BY





REGISTERED NUMBER: 08433282 (England and Wales)





ACCOUNTANTS: Musalar & Co Accountants
International Accountant &Tax Consultant
FAIA, FFA, FIPA, FCPA, FFTA
536 Lordship Lane
London
N22 5BY

Musalar & Co Accountants Limited (Registered number: 08433282)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 90,335 91,350
Tangible assets 5 2,674 8,360
93,009 99,710

CURRENT ASSETS
Debtors 6 8,493 14,750
Cash at bank and in hand 220,253 113,965
228,746 128,715
CREDITORS
Amounts falling due within one year 7 109,246 68,019
NET CURRENT ASSETS 119,500 60,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,509

160,406

CAPITAL AND RESERVES
Called up share capital 8 10,500 5,000
Retained earnings 9 202,009 155,406
SHAREHOLDERS' FUNDS 212,509 160,406

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

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

The director acknowledges his 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.

Musalar & Co Accountants Limited (Registered number: 08433282)

Balance Sheet - continued
31 March 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 director and authorised for issue on 15 September 2024 and were signed by:





H Y Musalar - Director


Musalar & Co Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Musalar & Co Accountants 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.


Musalar & Co Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 101,500
AMORTISATION
At 1 April 2023 10,150
Amortisation for year 1,015
At 31 March 2024 11,165
NET BOOK VALUE
At 31 March 2024 90,335
At 31 March 2023 91,350

Musalar & Co Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023 77,841
Additions 3,341
At 31 March 2024 81,182
DEPRECIATION
At 1 April 2023 69,481
Charge for year 9,027
At 31 March 2024 78,508
NET BOOK VALUE
At 31 March 2024 2,674
At 31 March 2023 8,360

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 5,427 8,418
Other debtors 300 300
Prepayments 2,766 6,032
8,493 14,750

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 5,887 3,976
Paye 3,866 3,772
Tax 30,918 25,456
VAT 19,069 20,458
Other creditors 49,506 14,357
109,246 68,019

Musalar & Co Accountants Limited (Registered number: 08433282)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
10,500 Ordinary Shares Class A 1.00 10,500 5,000

5,500 Ordinary Shares Class A shares of 1.00 each were allotted and fully paid for cash at par during the year.

9. RESERVES
Retained
earnings
£   

At 1 April 2023 155,406
Profit for the year 93,203
Dividends (46,600 )
At 31 March 2024 202,009