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Registered Number: 11065352
England and Wales

 

 

 

MAS BAZAR WHITECHAPEL LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 125,835    139,217 
125,835    139,217 
Current assets      
Stocks 5 177,000    173,810 
Debtors 6 170,466    92,245 
Cash at bank and in hand 28,822    61,059 
376,288    327,114 
Creditors: amount falling due within one year 7 (195,431)   (219,426)
Net current assets 180,857    107,688 
 
Total assets less current liabilities 306,692    246,905 
Creditors: amount falling due after more than one year 8 (34,511)   (44,390)
Net assets 272,181    202,515 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 272,081    202,415 
Shareholders' funds 272,181    202,515 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 11 September 2024 and were signed by:


-------------------------------
Ruhul ISLAM
Director
1
General Information
MAS BAZAR WHITECHAPEL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11065352, registration address 265 Whitechapel Road, London, England, E1 1BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
Plant and Machinery 15% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Staff Costs

2023
£
  2022
£
Wages and salaries 206,359    161,810 
Social security costs 7,373    3,051 
Other staff costs 225    1,289 
213,957    166,150 
 
Average number of employees during the year Number   Number
Administration 18    17 
18    17 

3.

Average number of employees

Average number of employees during the year was 18 (2022 : 15).
4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 January 2023 50,000    47,827    52,750    65,499    216,076 
Additions        
Disposals        
At 31 December 2023 50,000    47,827    52,750    65,499    216,076 
Depreciation
At 01 January 2023   22,531    20,663    33,665    76,859 
Charge for year   3,794    4,813    4,775    13,382 
On disposals        
At 31 December 2023   26,325    25,476    38,440    90,241 
Net book values
Closing balance as at 31 December 2023 50,000    21,502    27,274    27,059    125,835 
Opening balance as at 01 January 2023 50,000    25,296    32,087    31,834    139,217 


5.

Stocks

2023
£
  2022
£
Stocks 177,000    173,810 
177,000    173,810 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 150,000   
VAT 20,466    92,245 
170,466    92,245 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 128,888    178,183 
Corporation Tax 54,588    32,740 
PAYE & Social Security 11,955    8,503 
195,431    219,426 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 24,511    34,390 
Directors' Loan Accounts 10,000    10,000 
34,511    44,390 

2