Registered number
08987023
MALHOTRA BROTHERS LIMITED
Filleted Accounts
31 October 2023
MALHOTRA BROTHERS LIMITED
Registered number: 08987023
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,241,241 1,241,241
Current assets
Debtors 4 285,700 278,642
Cash at bank and in hand 15,359 13,151
301,059 291,793
Creditors: amounts falling due within one year 5 (424,266) (415,449)
Net current liabilities (123,207) (123,656)
Total assets less current liabilities 1,118,034 1,117,585
Creditors: amounts falling due after more than one year 6 (851,934) (866,647)
Provisions for liabilities (23,419) (23,419)
Net assets 242,681 227,519
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 99,839 99,839
Profit and loss account 142,840 127,678
Shareholders' funds 242,681 227,519
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.
Ajitsingh KAPOOR
Director
Approved by the board on 15 October 2024
MALHOTRA BROTHERS LIMITED
Notes to the Accounts
for the year ended 31 October 2023
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 (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
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 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investment properties
Land and buildings
£
Cost
At 1 November 2022 1,241,241
At 31 October 2023 1,241,241
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 1,241,241
At 31 October 2022 1,241,241
Freehold land and buildings: 2023 2022
£ £
Historical cost 1,117,982 1,117,982
Cumulative depreciation based on historical cost - -
1,117,982 1,117,982
The investment properties were measured for fair value by the directors, and in their opinion the
fair value of the investment property is fairly stated.
4 Debtors 2023 2022
£ £
Trade debtors 24,000 24,092
Other debtors 261,700 254,550
285,700 278,642
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,083 5,500
Trade creditors 1,920 960
Taxation and social security costs 12,784 19,584
Directors loan account 368,450 365,375
Other creditors 24,029 24,030
424,266 415,449
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 851,934 866,647
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 851,934 866,647
Secured bank loans 851,934 866,647
The bank loan is secured by first charge over the freehold land and building held by the company.
8 Revaluation reserve 2023 2022
£ £
At 1 November 2022 99,839 99,839
At 31 October 2023 99,839 99,839
9 Related party transactions 2023 2022
£ £
A R Food & Wine Ltd (A company incorporated in England and Wales with common control)
Rent receivable 36,000 36,000
Other creditors include unsecured loan from 13,792 13,792
AJSingh Group Ltd (A company incorporated in England and Wales with common control)
Other debtors include unsecured loan to 69,550 62,050
A J Singh Real Estate Ltd (A company incorporated in England and Wales with common control)
Other debtors include unsecured loan to 174,250 20,000
10 Controlling party
The company is under the control of its director Mr Ajitsingh KAPOOR.
11 Other information
MALHOTRA BROTHERS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
61 Cranford Lane
Hounslow
TW5 9HA
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