Registered number
04458311
MAI (ACCOUNTANTS) LIMITED
Filleted Accounts
30 June 2024
MAI (ACCOUNTANTS) LIMITED
Registered number: 04458311
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - -
Current assets
Work in progress 1,000 1,000
Debtors 5 2,890 7,650
Cash at bank and in hand 86,775 66,220
90,665 74,870
Creditors: amounts falling due within one year 6 (8,204) (9,598)
Net current assets 82,461 65,272
Net assets 82,461 65,272
Capital and reserves
Called up share capital 100 100
Profit and loss account 82,361 65,172
Shareholders' funds 82,461 65,272
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.
M A IBRAHIM
Director
Approved by the board on 31 August 2024
MAI (ACCOUNTANTS) LIMITED
Notes to the Accounts
for the year ended 30 June 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. 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:
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 30 June 2024 25,000
Amortisation
At 1 July 2023 25,000
At 30 June 2024 25,000
Net book value
At 30 June 2024 -
At 30 June 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 5,695
At 30 June 2024 5,695
Depreciation
At 1 July 2023 5,695
At 30 June 2024 5,695
Net book value
At 30 June 2024 -
5 Debtors 2024 2023
£ £
Trade debtors 2,890 7,650
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,032 3,464
Other creditors 4,172 6,134
8,204 9,598
7 Other information
MAI (ACCOUNTANTS) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
7 St Andrews Street
Blackburn
Lancashire
BB1 7AE
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