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REGISTERED NUMBER: 03272255 (England and Wales)















Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 30 April 2024

for

MAISON MOTI LIMITED

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


MAISON MOTI LIMITED

Company Information
for the year ended 30 April 2024







Directors: Ms M Mahtani
V Mahtani
M Ahmed





Registered office: 8a Southbury Road
Enfield
Middlesex
EN1 1YT





Registered number: 03272255 (England and Wales)





Auditors: Duncan & Toplis Audit Limited, Statutory Auditor
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Strategic Report
for the year ended 30 April 2024


The directors present their strategic report for the year ended 30 April 2024.

Review of business
The principal activities of Maison Moti Limited continue to be about the provision of accommodation, care, and support services for vulnerable adults with acute and enduring mental health conditions.

Our strategic plans remain focused on growth and continuous improvement.
Performance in these areas continues to be strong with internal review outcomes relating to the latter demonstrating expected achievements in terms of improved quality.

Further incremental investments to improve staff pay and enhance the company's capacity and infrastructure have continued to take place as planned.

1. Turnover increased to £6,391,953 as compared to the previous year £5,974,148.
2. Expenditure including interest increased to £5,079,439 as compared to the previous year £4,629,733.
3. Profit before tax increased to £1,068,627 as compared to the previous year £1,016,200

Principal risks and uncertainties
The primary risks and what is done to mitigate these are as follows:
1. Serious incident & injury caused by service user - Mitigated by implementation and monitoring of robust risk management processes and insurance cover.
2. Increase in interest rates - Mitigated by keeping debt: equity level low and allowing for a hike in rates in terms of debt serviceability.
3. Competition and Government cuts to social care budgets - Mitigated by keeping fee levels competitive and a business model that provides comparatively better value for money than available in the general market for this type of provision.

Comprehensive analysis of development and performance
Maison Moti continues to operate to the high-performance standards set, with outcomes for service users continuing to improve year on year. Demand for our services continues to be excellent. This is demonstrated by high levels of referrals and occupancy and met through increasing bed capacity.

Financial key performance indicators
High level Key Performance Indicators in this regard are:
1. Turnover linked to occupancy
2. Expenditure
3. Profit before tax

Other key performance indicators
The company reviews its performance against a comprehensive array of operational as well as commercial Key Performance Indicators, which include:
1. Referrals
2. Placements
3. Recovery & move-on
4. Stability in mental health
5. Satisfaction levels (service user, staff & customer)


MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Strategic Report
for the year ended 30 April 2024

Future developments
The plans for the foreseeable future remain on growth and consolidation, maintaining standards and quality. In terms of growth, our aim is to double the existing bed capacity taking it to 240 by 2029.

On behalf of the board:




M Ahmed - Director


14 November 2024

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Report of the Directors
for the year ended 30 April 2024


The directors present their report with the financial statements of the company for the year ended 30 April 2024.

Principal activity
The principal activity of the company in the year under review was that of the operation of care homes.

Dividends
The total distribution of dividends for the year ended 30 April 2024 will be £439,690 (2023: £377,327).

Directors
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

Ms M Mahtani
V Mahtani
M Ahmed

Disclosure in the strategic report
Items required under Sch. 7 are set out in the Strategic Report in accordance with s.414C(11) of the Companies Act 2006.

Directors' responsibilities statement
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Report of the Directors
for the year ended 30 April 2024


Auditors
The auditors, Duncan & Toplis Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:



M Ahmed - Director


14 November 2024

Report of the Independent Auditors to the Members of
Maison Moti Limited


Opinion
We have audited the financial statements of Maison Moti Limited (the 'company') for the year ended 30 April 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Maison Moti Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements.
- Enquiring of management concerning actual and potential litigation and claims.
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
- Reading minutes of meetings of those charged with governance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Maison Moti Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Hassan Behcet (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

14 November 2024

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Statement of Comprehensive
Income
for the year ended 30 April 2024

2024 2023
Notes £ £

Turnover 6,391,953 5,974,148

Administrative expenses (4,765,564 ) (4,714,118 )
1,626,389 1,260,030

Other operating income 8,775 14,600
Operating profit 5 1,635,164 1,274,630


Interest payable and similar expenses 6 (566,537 ) (258,430 )
Profit before taxation 1,068,627 1,016,200

Tax on profit 7 (245,730 ) (116,917 )
Profit for the financial year 822,897 899,283

Other comprehensive income - -
Total comprehensive income for the year 822,897 899,283

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 9 60,860 114,161
Tangible assets 10 15,765,125 12,781,773
15,825,985 12,895,934

Current assets
Debtors 11 755,888 660,077
Cash at bank and in hand 85,304 251,139
841,192 911,216
Creditors
Amounts falling due within one year 12 1,457,829 1,035,360
Net current liabilities (616,637 ) (124,144 )
Total assets less current liabilities 15,209,348 12,771,790

Creditors
Amounts falling due after more than one year 13 (7,705,278 ) (5,688,064 )

Provisions for liabilities 17 (483,222 ) (446,085 )
Net assets 7,020,848 6,637,641

Capital and reserves
Called up share capital 18 1,000 1,000
Revaluation reserve 19 55,589 55,589
Retained earnings 19 6,964,259 6,581,052
7,020,848 6,637,641

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





M Ahmed - Director


MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Statement of Changes in Equity
for the year ended 30 April 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£ £ £ £
Balance at 1 May 2022 1,000 6,059,096 55,589 6,115,685

Changes in equity
Dividends - (377,327 ) - (377,327 )
Total comprehensive income - 899,283 - 899,283
Balance at 30 April 2023 1,000 6,581,052 55,589 6,637,641

Changes in equity
Dividends - (439,690 ) - (439,690 )
Total comprehensive income - 822,897 - 822,897
Balance at 30 April 2024 1,000 6,964,259 55,589 7,020,848

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Cash Flow Statement
for the year ended 30 April 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 1,932,243 1,798,321
Interest paid (566,537 ) (258,430 )
Tax paid (120,353 ) (130,269 )
Net cash from operating activities 1,245,353 1,409,622

Cash flows from investing activities
Purchase of intangible fixed assets (7,000 ) -
Purchase of tangible fixed assets (3,175,712 ) (1,970,135 )
Net cash from investing activities (3,182,712 ) (1,970,135 )

Cash flows from financing activities
New loans in year 2,767,000 1,424,000
Loan repayments in year (555,786 ) (389,737 )
Equity dividends paid (439,690 ) (377,327 )
Net cash from financing activities 1,771,524 656,936

(Decrease)/increase in cash and cash equivalents (165,835 ) 96,423
Cash and cash equivalents at beginning of
year

2

251,139

154,716

Cash and cash equivalents at end of year 2 85,304 251,139

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Cash Flow Statement
for the year ended 30 April 2024


1. Reconciliation of profit before taxation to cash generated from operations

2024 2023
£ £
Profit before taxation 1,068,627 1,016,200
Depreciation charges 192,360 181,914
Amortisation 60,300 160,901
Finance costs 566,537 258,430
1,887,824 1,617,445
(Increase)/decrease in trade and other debtors (95,811 ) 41,529
Increase in trade and other creditors 140,230 139,347
Cash generated from operations 1,932,243 1,798,321

2. Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30/4/24 1/5/23
£ £
Cash and cash equivalents 85,304 251,139
Year ended 30 April 2023
30/4/23 1/5/22
£ £
Cash and cash equivalents 251,139 154,716


3. Analysis of changes in net debt

At 1/5/23 Cash flow At 30/4/24
£ £ £
Net cash
Cash at bank and in hand 251,139 (165,835 ) 85,304
251,139 (165,835 ) 85,304
Debt
Debts falling due within 1 year (304,000 ) (194,000 ) (498,000 )
Debts falling due after 1 year (5,688,064 ) (2,017,214 ) (7,705,278 )
(5,992,064 ) (2,211,214 ) (8,203,278 )
Total (5,740,925 ) (2,377,049 ) (8,117,974 )

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements
for the year ended 30 April 2024


1. Statutory information

Maison Moti 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A review of the provision for future taxation is carried out by management. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when the asset is disposed off.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of several businesses, is being amortised evenly over its estimated useful life of ten years from the date of acquisition.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over the length of the lease
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

No depreciation is provided on freehold properties as, in the directors' opinion, the lives of the assets and the prices prevailing at the time of acquisition are such that their depreciation would not be material. Upon regular impairment reviews by the directors, in accordance with FRS 102, provisions will be made should any impairment in valuation of these properties occur.

The directors have taken advantage of the exemptions in FRS 102 paragraph 35.10 to include previous revaluations as deemed cost.

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating leases
Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term.

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


3. Employees and directors
2024 2023
£ £
Wages and salaries 2,780,868 2,492,506
Social security costs 262,442 239,751
Other pension costs 55,583 51,535
3,098,893 2,783,792

The average number of employees during the year was as follows:
2024 2023

Management & Head Office 28 31
Support Staff 76 70
Directors 2 -
106 101

4. Directors' emoluments
2024 2023
£ £
Directors' remuneration 281,460 262,106
Directors' pension contributions to money purchase schemes 8,750 7,500

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director is as follows:
2024 2023
£ £
Emoluments etc 275,260 255,906
Pension contributions to money purchase schemes 8,750 7,500

5. Operating profit

The operating profit is stated after charging:

2024 2023
£ £
Other operating leases 316,676 405,937
Depreciation - owned assets 192,360 181,914
Goodwill amortisation 60,301 160,901
Auditors' remuneration 7,770 7,400

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


6. Interest payable and similar expenses
2024 2023
£ £
Bank loan interest 560,455 258,430
Interest on late tax 6,082 -
566,537 258,430

7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 208,594 73,271

Deferred tax 37,136 43,646
Tax on profit 245,730 116,917

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£ £
Profit before tax 1,068,627 1,016,200
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

267,157

193,078

Effects of:
Expenses not deductible for tax purposes - 1,343
Capital allowances in excess of depreciation (49,974 ) (125,629 )
Structures and Building Allowance (2,981 ) (57 )
Deferred tax 37,136 43,646
Research and development (5,608 ) -
Donations - (612 )
Tax rate increase adjustment - 5,148
Total tax charge 245,730 116,917

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


8. Dividends

20232022
£ £
Ordinary 'A' shares of £1 each
Interim185,327181,129
Ordinary 'B' shares of £1 each
Interim48,00046,500
Ordinary 'C' shares of £1 each
Interim48,00046,500
Ordinary 'D' shares of £1 each
Interim48,00046,500
Ordinary 'E' shares of £1 each
Interim48,00046,500
377,327367,129

9. Intangible fixed assets
Computer
Goodwill software Totals
£ £ £
Cost
At 1 May 2023 1,659,013 43,860 1,702,873
Additions - 7,000 7,000
At 30 April 2024 1,659,013 50,860 1,709,873
Amortisation
At 1 May 2023 1,588,712 - 1,588,712
Amortisation for year 60,301 - 60,301
At 30 April 2024 1,649,013 - 1,649,013
Net book value
At 30 April 2024 10,000 50,860 60,860
At 30 April 2023 70,301 43,860 114,161

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


10. Tangible fixed assets
Fixtures
Freehold Long and
property leasehold fittings
£ £ £
Cost or valuation
At 1 May 2023 10,696,665 2,319,899 787,674
Additions 2,987,846 129,635 31,637
At 30 April 2024 13,684,511 2,449,534 819,311
Depreciation
At 1 May 2023 - 547,212 521,227
Charge for year - 124,259 41,291
At 30 April 2024 - 671,471 562,518
Net book value
At 30 April 2024 13,684,511 1,778,063 256,793
At 30 April 2023 10,696,665 1,772,687 266,447

Motor Computer
vehicles equipment Totals
£ £ £
Cost or valuation
At 1 May 2023 35,294 207,311 14,046,843
Additions - 26,594 3,175,712
At 30 April 2024 35,294 233,905 17,222,555
Depreciation
At 1 May 2023 17,024 179,607 1,265,070
Charge for year 8,823 17,987 192,360
At 30 April 2024 25,847 197,594 1,457,430
Net book value
At 30 April 2024 9,447 36,311 15,765,125
At 30 April 2023 18,270 27,704 12,781,773

Cost or valuation at 30 April 2024 is represented by:

Fixtures
Freehold Long and
property leasehold fittings
£ £ £
Valuation in 2010 102,484 - -
Valuation in 2012 (33,855 ) - -
Cost 13,615,882 2,449,534 819,311
13,684,511 2,449,534 819,311

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


10. Tangible fixed assets - continued

Motor Computer
vehicles equipment Totals
£ £ £
Valuation in 2010 - - 102,484
Valuation in 2012 - - (33,855 )
Cost 35,294 233,905 17,153,926
35,294 233,905 17,222,555

11. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 543,292 483,683
Other debtors 28,614 24,756
Prepayments and accrued income 183,982 151,638
755,888 660,077

12. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts (see note 14) 498,000 304,000
Trade creditors 438,177 279,185
Tax 234,717 190,122
Social security and other taxes 64,464 62,588
Other creditors 48,950 26,308
Accruals and deferred income 173,521 173,157
1,457,829 1,035,360

13. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans (see note 14) 7,705,278 5,688,064

14. Loans

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 498,000 304,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,992,000 1,248,190

Amounts falling due in more than five years:

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


14. Loans - continued
2024 2023
£ £
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 5,713,278 4,439,874

15. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 321,417 404,351
Between one and five years 600,196 631,193
In more than five years 413,816 611,163
1,335,429 1,646,707

16. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 8,203,278 5,992,064

Bank loans are secured by way of a first legal charge over the property to which the loan relates and a fixed and floating debenture over the remaining assets of the company.

17. Provisions for liabilities
2024 2023
£ £
Deferred tax
Accelerated capital allowances 439,576 402,439
Revaluation 43,646 43,646
483,222 446,085

Deferred tax
£
Balance at 1 May 2023 446,085
Provided during year 37,137
Balance at 30 April 2024 483,222

MAISON MOTI LIMITED (REGISTERED NUMBER: 03272255)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


18. Called up share capital

Allotted, issued and fully paid:

Number:

Class:
Nominal
Value:

2023

2022
£    £   
720 Ordinary 'A' £1 720 720
250 Ordinary 'B' £1 250 250
10 Ordinary 'C' £1 10 10
10 Ordinary 'D' £1 10 10
10 Ordinary 'E' £1 10 10
1,000 1,000


All shares rank pari passu in all respects except for as specified in the Articles of Association dated 2nd December 2020.

19. Reserves
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 May 2023 6,581,052 55,589 6,636,641
Profit for the year 822,897 822,897
Dividends (439,690 ) (439,690 )
At 30 April 2024 6,964,259 55,589 7,019,848

20. Related party disclosures

During the year rent amounting to £180,564 (2023: £180,564) was paid in the normal course of business to M Mahtani and her sons in respect of properties occupied by the company. M Mahtani and her sons also waived rent on properties occupied by the company to the value of £38,067 (2023: £38,067).

M Mahtani and her sons have allowed a first legal charge to be placed on their investment properties, and M Mahtani has given a personal guarantee amounting to £150,000 to further secure the company's bank borrowing.

21. Ultimate controlling party

The company is controlled by M Mahtani.