MA RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024
MA Retail Limited is a company limited by shares and was incorporated in Wales.
The registered office is:-
128 City Road
London,
EC1V 2NX.
The regsitered number is 15282686.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
In view of the excess of liabilities over assets at 30 November 2024 of £4,460 the
appropriateness of the going concern basis is dependent upon the continued support of the
company's creditors.
The creditors have continued to support the company and the directors are of the opinion that they
will continue to do so. In light of the aforementioned, the directors consider it appropriate to adopt
the going concern basis in preparing the financial statements.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including the director, during the period was as follows:
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