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Registered number: 13967734
MALPLEX LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13967734
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 652,739 753,222
652,739 753,222
CURRENT ASSETS
Cash at bank and in hand 124 124
124 124
Creditors: Amounts Falling Due Within One Year 5 (450 ) (450 )
NET CURRENT ASSETS (LIABILITIES) (326 ) (326 )
TOTAL ASSETS LESS CURRENT LIABILITIES 652,413 752,896
Creditors: Amounts Falling Due After More Than One Year 6 (553,846 ) (578,233 )
NET ASSETS 98,567 174,663
CAPITAL AND RESERVES
Called up share capital 7 1 1
Revaluation reserve 8 114,250 214,250
Profit and Loss Account (15,684 ) (39,588 )
SHAREHOLDERS' FUNDS 98,567 174,663
Page 1
Page 2
For the year ending 31 March 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
Aqib Murad
Director
9 January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MALPLEX LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13967734 . The registered office is 142 Chatteris Avenue, Romford, RM3 8EU.
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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Freehold Nil
Fixtures & Fittings 15% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 April 2023 750,000 3,791 753,791
Revaluation (100,000 ) - (100,000 )
As at 31 March 2024 650,000 3,791 653,791
Depreciation
As at 1 April 2023 - 569 569
Provided during the period - 483 483
As at 31 March 2024 - 1,052 1,052
Net Book Value
As at 31 March 2024 650,000 2,739 652,739
As at 1 April 2023 750,000 3,222 753,222
Page 3
Page 4
Cost or valuation as at 31 March 2024 represented by:
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
At cost 650,000 3,791 653,791
650,000 3,791 653,791
The fair value of the freehold properties as of March 2024 has been determined based on a valuation conducted by an independent external survey company.
5. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Accruals and deferred income 450 450
6. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans 364,000 364,000
Directors loan account 189,846 214,233
553,846 578,233
7. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 1 1
8. Reserves
Revaluation Reserve
£
As at 1 April 2023 214,250
Net investment property revaluation reserve (100,000 )
As at 31 March 2024 114,250
Page 4