Registered number
07608639
MAH Professional Services Limited
Unaudited Filleted Accounts
for the year ended
30 September 2024
MAH Professional Services Limited
Registered number: 07608639
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,056 1,622
Current assets
Debtors 4 217,141 174,735
Cash at bank and in hand 194,798 342,872
411,939 517,607
Creditors: amounts falling due within one year 5 (207,008) (280,626)
Net current assets 204,931 236,981
Total assets less current liabilities 207,987 238,603
Creditors: amounts falling due after more than one year 6 (15,000) (24,000)
Net assets 192,987 214,603
Capital and reserves
Called up share capital 2 2
Profit and loss account 192,985 214,601
Shareholder's funds 192,987 214,603
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 member has 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.
Mohammed Haque
Director
Approved by the board on 1 October 2024
MAH Professional Services Limited
Notes to the Accounts
for the year ended 30 September 2024
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 (as applied to small entities by section 1A of the standard). The company previously prepared accounts under FRS 105. There are no adjustments as at the transition date of 1 October 2022.
Going concern
The director believes that the company is experiencing good levels of sales and profitability, and that it is well placed to manage its business risks successfully. Accordingly he has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements.
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 rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Work in progress
Work in progress is valued at the lower of cost and net realisable value of services provided during the year.
1 Accounting policies (continued)
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.
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.
1 Accounting policies (continued)
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 17
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 20,829
Additions 3,368
At 30 September 2024 24,197
Depreciation
At 1 October 2023 19,207
Charge for the year 1,934
At 30 September 2024 21,141
Net book value
At 30 September 2024 3,056
At 30 September 2023 1,622
4 Debtors 2024 2023
£ £
Trade debtors 182,856 153,395
Other debtors 34,285 21,340
217,141 174,735
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 14,000 -
Taxation and social security costs 153,876 224,696
Other creditors 39,132 55,930
207,008 280,626
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,000 24,000
7 Related party transactions
Included within other creditors is a short term current account balance due to the director which is interest free. At the year end the balance was £467 (2023: £1,333).
8 Controlling party
Mohammed Haque is the controlling party and the 100% shareholder.
9 Other information
MAH Professional Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor
154 Bishopsgate
London
EC2M 4LN
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