Registered number
11198225
M & A EXPORT LTD
Financial Accounts
For the Year Ended
31 May 2024
M & A EXPORT LTD
Company Information
Director
Z.Z.Ali
Accountants
RJT Accountancy Limited
4 Woodridge Avenue
Allesley Green
Coventry
CV5 7PN
Bankers
Barclays Bank plc
Registered office
20-22 Wenlock Road
London
N1 7GU
Registered number
11198225
M & A EXPORT LTD
Registered number: 11198225
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,188 306
Current assets
Stocks 30,000 44,976
Debtors 4 4,520 3,000
Cash at bank and in hand 95,418 87,046
129,938 135,022
Creditors: amounts falling due within one year 5 (64,150) (72,086)
Net current assets 65,788 62,936
Total assets less current liabilities 67,976 63,242
Creditors: amounts falling due after more than one year 6 (12,500) (22,500)
Net assets 55,476 40,742
Capital and reserves
Called up share capital 100 100
Profit and loss account 55,376 40,642
Shareholders' funds 55,476 40,742
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The directors report and profit and loss account have not been delivered to the Registrar of Companies.
Z.Z.Ali
Director
Approved by the board on 18 September 2024
M & A EXPORT LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102-Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% on reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Office Equipment Motor vehicles Total
£ £ £
Cost
At 1 June 2023 1,780 - 1,780
Additions - 2,347 2,347
At 31 May 2024 1,780 2,347 4,127
Depreciation
At 1 June 2023 1,474 - 1,474
Charge for the year 118 347 465
At 31 May 2024 1,592 347 1,939
Net book value
At 31 May 2024 188 2,000 2,188
At 31 May 2023 306 - 306
4 Debtors 2024 2023
£ £
Trade debtors - -
Other debtors 4,520 3,000
4,520 3,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 16,723 36,856
Taxation and social security costs 15,510 1,407
Other creditors 21,917 23,823
64,150 72,086
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,500 22,500
7 Other information
M & A EXPORT LTD is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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