Registered number
09254782
M N Accountancy & Management Services Ltd
Filleted Accounts
31 October 2023
M N Accountancy & Management Services Ltd
Registered number: 09254782
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,740 836
Initial setup costs 4 794 794
12,534 1,630
Current assets
Debtors 5 38,008 23,104
Cash at bank and in hand 10,896 8,612
48,904 31,716
Creditors: amounts falling due within one year 6 (19,825) (15,084)
Net current assets 29,079 16,632
Total assets less current liabilities 41,613 18,262
Creditors: amounts falling due after more than one year 7 (39,803) (11,796)
Net assets 1,810 6,466
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,710 6,366
Shareholders' funds 1,810 6,466
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.
Mr Md Nur Hossain
Director
Approved by the board on 30 October 2024
M N Accountancy & Management Services Ltd
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. 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.
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:
Plant and machinery 33% reducing balance basis
Fixtures, fittings, tools and equipment 0% current year
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 6 6
3 Tangible fixed assets
Plant and machinery etc Fixtures, fittings, tools and equipment Total
£ £ £
Cost
At 1 November 2022 3,848 - 3,848
Additions - 11,175 11,175
At 31 October 2023 3,848 11,175 15,023
Depreciation
At 1 November 2022 3,012 - 3,012
Charge for the year 271 - 271
At 31 October 2023 3,283 - 3,283
Net book value
At 31 October 2023 565 11,175 11,740
At 31 October 2022 836 - 836
4 Investments
Initial setup costs
Other
investments
£
Cost
At 1 November 2022 794
At 31 October 2023 794
5 Debtors 2023 2022
£ £
Trade debtors 18,736 22,754
Amounts owed by group undertakings and undertakings in which the company has a participating interest 6,122 -
Accrued & deferred income 12,500 -
Other debtors 650 350
38,008 23,104
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,908 3,831
Corporation tax 5,007 5,964
Other taxes and social security costs 6,543 5,189
Other creditors 3,367 100
19,825 15,084
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 39,803 11,796
8 Other information
M N Accountancy & Management Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
317 Dagnam Park Drive
Harold Hill
Romford
Essex
RM3 9ED
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