Registered number
06225186
The Great Mughal Limited
Unaudited Filleted Accounts
30 April 2024
The Great Mughal Limited
Registered number: 06225186
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 115,997 128,604
Current assets
Stocks 3,527 3,527
Debtors 5 44,100 53,779
Cash at bank and in hand 85,230 131,343
132,857 188,649
Creditors: amounts falling due within one year 6 (178,183) (252,992)
Net current liabilities (45,326) (64,343)
Total assets less current liabilities 70,671 64,261
Provisions for liabilities (6,233) (6,233)
Net assets 64,438 58,028
Capital and reserves
Called up share capital 2 2
Profit and loss account 64,436 58,026
Shareholders' funds 64,438 58,028
The directors are 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 directors acknowledge their 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. R. H. Dar
Director
Approved by the board on 9 October 2024
The Great Mughal Limited
Notes to the Accounts
for the year ended 30 April 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 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.
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 11% - reducing balance
Leasehold land and buildings 11% - reducing balance
Plant and machinery 15% - reducing balance
Motor vehicles 15% - reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 15 14
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 20,000
At 30 April 2024 20,000
Amortisation
At 1 May 2023 20,000
At 30 April 2024 20,000
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Short leasehold and Improv. To Property Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 204,665 124,739 83,000 412,404
Additions - 4,959 - 4,959
At 30 April 2024 204,665 129,698 83,000 417,363
Depreciation
At 1 May 2023 142,956 94,671 46,173 283,800
Charge for the year 6,788 5,254 5,524 17,566
At 30 April 2024 149,744 99,925 51,697 301,366
Net book value
At 30 April 2024 54,921 29,773 31,303 115,997
At 30 April 2023 61,709 30,068 36,827 128,604
5 Debtors 2024 2023
£ £
Other debtors 44,100 53,779
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 19,854 26,531
Taxation and social security costs 16,688 21,930
Other creditors 141,641 204,531
178,183 252,992
7 Other information
The Great Mughal Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 New Quebec Street
London
W1H 7SF
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