Registered number
01860629
MITALI ENTERPRISES LIMITED
Filleted Accounts
31 May 2024
MITALI ENTERPRISES LIMITED
Registered number: 01860629
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 232,343 235,376
Current assets
Debtors 4 13,282 18,400
Cash at bank and in hand 233,470 204,932
246,752 223,332
Creditors: amounts falling due within one year 5 (128,901) (162,023)
Net current assets 117,851 61,309
Total assets less current liabilities 350,194 296,685
Creditors: amounts falling due after more than one year 6 (14,637) (20,895)
Net assets 335,557 275,790
Capital and reserves
Called up share capital 19,000 19,000
Share premium 1,000 1,000
Profit and loss account 315,557 255,790
Shareholders' funds 335,557 275,790
The director is 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 director acknowledges his 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.
Wahid Murad Azad
Director
Approved by the board on 17 July 2024
MITALI ENTERPRISES LIMITED
Notes to the Accounts
for the year ended 31 May 2024
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:
Land and buildings 1% strate line
Fixtures, fittings, tools and equipment 15% reducing balance
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 303,329 40,553 343,882
At 31 May 2024 303,329 40,553 343,882
Depreciation
At 1 June 2023 67,953 40,553 108,506
Charge for the year 3,033 - 3,033
At 31 May 2024 70,986 40,553 111,539
Net book value
At 31 May 2024 232,343 - 232,343
At 31 May 2023 235,376 - 235,376
4 Debtors 2024 2023
£ £
Trade debtors 8,042 10,118
Other debtors 5,240 8,282
13,282 18,400
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,196 7,829
Directors current account 2,400 8,467
Trade creditors 1,440 1,704
Taxation and social security costs 36,644 34,223
Other creditors 80,221 109,800
128,901 162,023
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,933 20,895
Trade creditors 1,704 -
14,637 20,895
7 Other information
MITALI ENTERPRISES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
17 Plumbers Row
Unit 4
Upper ground
London
E1 1EQ
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