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Registration number: 07511595

Maurya Group Scotland Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Maurya Group Scotland Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Maurya Group Scotland Limited

Company Information

Director

Mr Shashikant Desai

Registered office

25 Lyon Park Avenue
Wembley
England
Middlesex
HA0 4DR

Accountants

R Zaveri
19 Norval Road
North Wembley
Middlesex
HA0 3TD

 

Maurya Group Scotland Limited

(Registration number: 07511595)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

3,000

Tangible assets

5

3,252

3,314

 

3,253

6,314

Current assets

 

Debtors

6

39,223

39,232

Cash at bank and in hand

 

38

-

 

39,261

39,232

Creditors: Amounts falling due within one year

7

(11,748)

(17,997)

Net current assets

 

27,513

21,235

Net assets

 

30,766

27,549

Capital and reserves

 

Called up share capital

8

50,000

50,000

Retained earnings

(19,234)

(22,451)

Shareholders' funds

 

30,766

27,549

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 

.........................................
Mr Shashikant Desai
Director

 

Maurya Group Scotland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
25 Lyon Park Avenue
Wembley
England
Middlesex
HA0 4DR
England

These financial statements were authorised for issue by the director on 30 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Maurya Group Scotland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on reducing basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Maurya Group Scotland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Maurya Group Scotland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

30,000

30,000

At 31 January 2024

30,000

30,000

Amortisation

At 1 February 2023

27,000

27,000

Amortisation charge

2,999

2,999

At 31 January 2024

29,999

29,999

Carrying amount

At 31 January 2024

1

1

At 31 January 2023

3,000

3,000

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

13,073

13,073

Additions

1,022

1,022

At 31 January 2024

14,095

14,095

Depreciation

At 1 February 2023

9,759

9,759

Charge for the year

1,084

1,084

At 31 January 2024

10,843

10,843

Carrying amount

At 31 January 2024

3,252

3,252

At 31 January 2023

3,314

3,314

6

Debtors

 

Maurya Group Scotland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Current

2024
£

2023
£

Trade debtors

39,104

39,104

Other debtors

119

128

 

39,223

39,232

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

11,748

17,997

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share of £1 each

50,000

50,000

50,000

50,000

         

9

Related party transactions

 

Maurya Group Scotland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

3,840

3,840