Company registration number: SC234260
Unaudited financial statements
for the year ended 30 September 2023
for
Majestic Hospitality Ltd.
Pages for filing with the Registrar
Company registration number: SC234260
Majestic Hospitality Ltd.
Balance sheet
as at 30 September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 267 302
267 302
Current assets
Stocks 490 370
Cash at bank and in hand 70,942 55,440
71,432 55,810
Creditors: amounts falling due within
one year
(42,159) (44,262)
Net current assets 29,273 11,548
Total assets less current liabilities 29,540 11,850
NET ASSETS 29,540 11,850
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 24,540 6,850
TOTAL EQUITY 29,540 11,850
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 September 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: SC234260
Majestic Hospitality Ltd.
Balance sheet - continued
as at 30 September 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 17 September 2024 and signed on its behalf by:
Mrs H Pirrie, Director Miss M Ritchie, Director
17 September 2024 17 September 2024
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Majestic Hospitality Ltd.
Notes to the financial statements
for the year ended 30 September 2023
1 Company information
The company is registered in Scotland. Its registered number is SC234260. The company is limited by shares. Its registered office is 0/1, 66 Highburgh Road, Glasgow, G12 9EN.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 10% straight line
Computer equipment - 25% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Majestic Hospitality Ltd.
Notes to the financial statements - continued
for the year ended 30 September 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 4 (2022 - 3).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 October 2022 3,403
Additions 88
At 30 September 2023 3,491
Depreciation
At 1 October 2022 3,101
Charge for year 123
At 30 September 2023 3,224
Net book value
At 30 September 2023 267
At 30 September 2022 302
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