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REGISTERED NUMBER: 07450449 (England and Wales)


Financial Statements for the Year Ended 30 November 2023

for

M and B Patel Limited

M and B Patel Limited (Registered number: 07450449)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


M and B Patel Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mr Manishkumar Chhotubhai Patel





REGISTERED OFFICE: Bridge House
9 - 13 Holbrook Lane
Coventry
United Kingdom
CV6 4AD





REGISTERED NUMBER: 07450449 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

M and B Patel Limited (Registered number: 07450449)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 250,000 250,000
Tangible assets 5 21,372 15,707
271,372 265,707

CURRENT ASSETS
Stocks 59,628 58,476
Debtors 6 3,083 2,875
Cash at bank and in hand 15,966 7,171
78,677 68,522
CREDITORS
Amounts falling due within one year 7 261,195 232,953
NET CURRENT LIABILITIES (182,518 ) (164,431 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,854

101,276

CREDITORS
Amounts falling due after more than one
year

8

35,640

42,132
NET ASSETS 53,214 59,144

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 52,214 58,144
SHAREHOLDERS' FUNDS 53,214 59,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M and B Patel Limited (Registered number: 07450449)

Statement of Financial Position - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 November 2024 and were signed by:





Mr Manishkumar Chhotubhai Patel - Director


M and B Patel Limited (Registered number: 07450449)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

M and B Patel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net sales of invoiced goods and services excluding Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 250,000
NET BOOK VALUE
At 30 November 2023 250,000
At 30 November 2022 250,000

M and B Patel Limited (Registered number: 07450449)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 52,811
Additions 11,008
At 30 November 2023 63,819
DEPRECIATION
At 1 December 2022 37,104
Charge for year 5,343
At 30 November 2023 42,447
NET BOOK VALUE
At 30 November 2023 21,372
At 30 November 2022 15,707

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 3,083 2,875

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 146,493 146,454
Taxation and social security 62,105 77,935
Other creditors 52,597 8,564
261,195 232,953

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 35,640 42,132

M and B Patel Limited (Registered number: 07450449)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £10 1,000 1,000