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Registered number: 09965318
MJA Foods Ltd
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09965318
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,686 22,684
18,686 22,684
CURRENT ASSETS
Stocks 5 84,156 87,614
Debtors 6 67,181 95,941
Cash at bank and in hand 14,418 13,716
165,755 197,271
Creditors: Amounts Falling Due Within One Year 7 (159,784 ) (180,976 )
NET CURRENT ASSETS (LIABILITIES) 5,971 16,295
TOTAL ASSETS LESS CURRENT LIABILITIES 24,657 38,979
Creditors: Amounts Falling Due After More Than One Year 8 (20,638 ) (35,345 )
NET ASSETS 4,019 3,634
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 3,919 3,534
SHAREHOLDERS' FUNDS 4,019 3,634
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
N A Shaikh
Director
9th October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MJA Foods Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09965318 . The registered office is 109 Coleman Road, Leicester, Leicestershire, LE5 4LE.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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, excluding discounts, rebates, value added tax and other sales taxes.
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 15& SB
Motor Vehicles 15& SB
Computer Equipment 15& SB
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
2.6. Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 33,850 34,000 9,685 77,535
Additions - - 5,500 5,500
As at 31 January 2024 33,850 34,000 15,185 83,035
Depreciation
As at 1 February 2023 27,142 22,049 5,660 54,851
Provided during the period 2,702 4,650 2,146 9,498
As at 31 January 2024 29,844 26,699 7,806 64,349
Net Book Value
As at 31 January 2024 4,006 7,301 7,379 18,686
As at 1 February 2023 6,708 11,951 4,025 22,684
5. Stocks
2024 2023
£ £
Stock 84,156 87,614
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 63,910 93,397
Other debtors 3,271 2,544
67,181 95,941
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 147,033 144,376
Other creditors 6,453 28,928
Taxation and social security 6,298 7,672
159,784 180,976
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce Back Loan A/c 20,638 35,345
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Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr. Nazeer Shaikh (25,435 ) 22,901 - - (2,534 )
Amounts due are interest free and have no terms attached.
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