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Registered number: 09775482









MAHINOUR LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2023

 
MAHINOUR LIMITED
REGISTERED NUMBER: 09775482

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

31 August
30 June
2023
2022
Note
£
£

  

Current assets
  

Stocks
  
52,800
-

Debtors: amounts falling due within one year
 4 
612,740
504,337

Cash at bank and in hand
 5 
2,261,153
357,022

  
2,926,693
861,359

Creditors: amounts falling due within one year
 6 
(2,934,478)
(906,851)

Net current liabilities
  
 
 
(7,785)
 
 
(45,492)

Total assets less current liabilities
  
(7,785)
(45,492)

  

Net liabilities
  
(7,785)
(45,492)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
(7,985)
(45,692)

  
(7,785)
(45,492)


Page 1

 
MAHINOUR LIMITED
REGISTERED NUMBER: 09775482
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2024.

K Elbessoumy
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
MAHINOUR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


General information

Mahinour Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the Statement of Financial Position date the company had net liabilities of £7,785 and is dependent on the support of its creditors who have confirmed their intention to support the company. As a result the directors believe it is appropriate to prepare the accounts on the going concern basis.

 
2.3

Revenue

Revenue comprises the wholesale of food and is recognised in the Statement of Income and Retained Earnings in the period it is contractually due.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

Page 3

 
MAHINOUR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).

Page 4

 
MAHINOUR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

4.


Debtors

31 August
30 June
2023
2022
£
£


Trade debtors
612,740
504,337

612,740
504,337



5.


Cash and cash equivalents

31 August
30 June
2023
2022
£
£

Cash at bank and in hand
2,261,153
357,022

2,261,153
357,022



6.


Creditors: Amounts falling due within one year

31 August
30 June
2023
2022
£
£

Trade creditors
176,476
24,604

Corporation tax
700
1,728

Other creditors
2,752,502
872,566

Accruals and deferred income
4,800
7,953

2,934,478
906,851



7.


Related party transactions

At the reporting date £309,144 (2022: £309,144) was due to S Mohamed, a director of the company. The loan is repayable on demand and not interest bearing.
During the year, costs for the supply of goods totalling £4,379,583 (2022: £943,920) were payable to Agro Alex Group Co, a company incorporated in Egypt in which K Elbessoumy is also a director. All transactions were carried out at arms length. At the reporting date £2,435,464 (2022: £555,922) was due to Agro Alex Group Co. The loan is repayable on demand and not interest bearing.
At the reporting date £7,500 (2022: £7,500) was due to Mahinour Co. For Import & Export, a company incorporated in Egypt in which K Elbessoumy is also a director. The loan is repayable on demand and not interest bearing.

 
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