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Registered number: 11086410
Mayfair International Advisory Group Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2021
London Accountants and Partners Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11086410
2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,611 1,552
Investments 5 150 150
1,761 1,702
CURRENT ASSETS
Debtors 6 97,367 96,357
Cash at bank and in hand 240 36,342
97,607 132,699
Creditors: Amounts Falling Due Within One Year 7 (118,160 ) (116,422 )
NET CURRENT ASSETS (LIABILITIES) (20,553 ) 16,277
TOTAL ASSETS LESS CURRENT LIABILITIES (18,792 ) 17,979
Creditors: Amounts Falling Due After More Than One Year 8 (371,758 ) (390,407 )
NET LIABILITIES (390,550 ) (372,428 )
CAPITAL AND RESERVES
Called up share capital 9 1,013 1,013
Profit and Loss Account (391,563 ) (373,441 )
SHAREHOLDERS' FUNDS (390,550) (372,428)
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For the year ending 30 November 2021 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
L S Abehassera
Director
12 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mayfair International Advisory Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11086410 . The registered office is Landsdowne House - 5th Floor, 57 Berkeley Square, Mayfair, London, England, W1J 6ER.
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.
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 25% RBM
2.4. Investment Properties
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.7.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.8.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2020: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2020 1,697
Additions 398
As at 30 November 2021 2,095
Depreciation
As at 1 December 2020 145
Provided during the period 339
As at 30 November 2021 484
Net Book Value
As at 30 November 2021 1,611
As at 1 December 2020 1,552
5. Investments
Unlisted
£
Cost
As at 1 December 2020 150
As at 30 November 2021 150
Provision
As at 1 December 2020 -
As at 30 November 2021 -
Net Book Value
As at 30 November 2021 150
As at 1 December 2020 150
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6. Debtors
2021 2020
£ £
Due within one year
Other debtors 1,700 4,700
Deferred tax current asset 91,475 87,224
VAT 4,192 4,433
97,367 96,357
7. Creditors: Amounts Falling Due Within One Year
2021 2020
£ £
Trade creditors 36,923 36,923
Bank loans and overdrafts 30,018 30,000
Net wages 3,000 -
Pension Payable 686 686
Investments 46,842 46,842
Sundry creditors (30 ) (30 )
Accruals and deferred income - 1,280
Director's loan account 721 721
118,160 116,422
8. Creditors: Amounts Falling Due After More Than One Year
2021 2020
£ £
Bank loans 359,160 381,160
Other taxes and social security 12,598 9,247
371,758 390,407
9. Share Capital
2021 2020
£ £
Allotted, Called up and fully paid 1,013 1,013
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