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Registered number: 13144610
MAZ RG1 FOODS LTD
Unaudited Financial Statements
For The Year Ended 31 January 2024
BAS Tax Advisors & Co.
Suite110W, Sterling House,
Langston Road,
Loughton
IG2 6NQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13144610
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,460 31,245
32,460 31,245
CURRENT ASSETS
Stocks 5 3,348 4,582
Debtors 6 - 3,147
Cash at bank and in hand 3,533 2,656
6,881 10,385
Creditors: Amounts Falling Due Within One Year 7 (83,362 ) (87,614 )
NET CURRENT ASSETS (LIABILITIES) (76,481 ) (77,229 )
TOTAL ASSETS LESS CURRENT LIABILITIES (44,021 ) (45,984 )
Creditors: Amounts Falling Due After More Than One Year 8 (37,608 ) (51,607 )
NET LIABILITIES (81,629 ) (97,591 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (81,630 ) (97,592 )
SHAREHOLDERS' FUNDS (81,629) (97,591)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Minhajuddin MOHAMMED
Director
28/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MAZ RG1 FOODS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13144610 . The registered office is 108 St Albans Road, London, IG3 8NW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 18%
Fixtures & Fittings 18%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 26,576 13,924 40,500
Additions - 8,340 8,340
As at 31 January 2024 26,576 22,264 48,840
Depreciation
As at 1 February 2023 6,042 3,213 9,255
Provided during the period 3,696 3,429 7,125
As at 31 January 2024 9,738 6,642 16,380
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 January 2024 16,838 15,622 32,460
As at 1 February 2023 20,534 10,711 31,245
5. Stocks
2024 2023
£ £
Finished goods 3,348 4,582
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 3,147
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 39,384 48,373
Director's loan account 43,978 39,241
83,362 87,614
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors - 28,945
Directors loan account 37,608 22,662
37,608 51,607
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4