Registered number
07067726
Mahir's Experience Holdings Limited
Filleted Accounts
31 December 2023
Mahir's Experience Holdings Limited
Registered number: 07067726
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 682,326 701,199
Current assets
Debtors 4 - 20,725
Cash at bank and in hand 63,785 198,989
63,785 219,714
Creditors: amounts falling due within one year 5 (392,951) (526,868)
Net current liabilities (329,166) (307,154)
Total assets less current liabilities 353,160 394,045
Creditors: amounts falling due after more than one year 6 (233,510) (293,160)
Net assets 119,650 100,885
Capital and reserves
Called up share capital 100 100
Profit and loss account 119,550 100,785
Shareholders' funds 119,650 100,885
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 profit and loss account has not been delivered to the Registrar of Companies.
Harvir Singh Sahota
Director
Approved by the board on 26 September 2024
Mahir's Experience Holdings Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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% Reducing balance
Office equipment 20% Reducing balance
Plant and machinery 10% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 627,399 22,286 97,624 747,309
At 31 December 2023 627,399 22,286 97,624 747,309
Depreciation
At 1 January 2023 - 16,750 29,360 46,110
Charge for the year - 1,807 17,066 18,873
At 31 December 2023 - 18,557 46,426 64,983
Net book value
At 31 December 2023 627,399 3,729 51,198 682,326
At 31 December 2022 627,399 5,536 68,264 701,199
4 Debtors 2023 2022
£ £
Trade debtors - 20,725
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 61,566 72,730
Obligations under finance lease and hire purchase contracts 16,195 16,195
Trade creditors 1,061 872
Amounts owed to related parties 282,816 353,956
Corporation tax 8,829 15,723
Other taxes and social security costs 401 35,390
Other creditors 22,083 32,002
392,951 526,868
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 195,547 239,002
Obligations under finance lease and hire purchase contracts 37,963 54,158
233,510 293,160
7 Related party transactions
As at 31 December 2023, Mahirs Experience Holdings Ltd owed £282,816 to Mahirs Experience Ltd, a company in which Harvir Singh Sahota is a Director.
8 Other information
Mahir's Experience Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hawthorns Court
Colliery Road
West Bromwich
West Midlands
B71 4JS
Mahir's Experience Holdings Limited 07067726 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Harvir Singh Sahota No description of principal activity 07067726 2022-01-01 2022-12-31 07067726 core:WithinOneYear 2022-12-31 07067726 core:AfterOneYear 2022-12-31 07067726 core:ShareCapital 2022-12-31 07067726 core:RetainedEarningsAccumulatedLosses 2022-12-31 07067726 2023-01-01 2023-12-31 07067726 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07067726 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07067726 bus:Director40 2023-01-01 2023-12-31 07067726 1 2023-01-01 2023-12-31 07067726 2 2023-01-01 2023-12-31 07067726 core:LandBuildings 2023-01-01 2023-12-31 07067726 core:PlantMachinery 2023-01-01 2023-12-31 07067726 core:Vehicles 2023-01-01 2023-12-31 07067726 countries:England 2023-01-01 2023-12-31 07067726 bus:FRS102 2023-01-01 2023-12-31 07067726 bus:FilletedAccounts 2023-01-01 2023-12-31 07067726 2023-12-31 07067726 core:WithinOneYear 2023-12-31 07067726 core:AfterOneYear 2023-12-31 07067726 core:ShareCapital 2023-12-31 07067726 core:RetainedEarningsAccumulatedLosses 2023-12-31 07067726 core:LandBuildings 2023-12-31 07067726 core:PlantMachinery 2023-12-31 07067726 core:Vehicles 2023-12-31 07067726 2022-12-31 07067726 core:LandBuildings 2022-12-31 07067726 core:PlantMachinery 2022-12-31 07067726 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure